Balyasny Asset Management L.P. Increases Position in Olo Inc. (NYSE:OLO)

Balyasny Asset Management L.P. boosted its holdings in shares of Olo Inc. (NYSE:OLO - Free Report) by 67.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 138,770 shares of the company's stock after buying an additional 56,073 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.08% of OLO worth $1,066,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Tandem Financial LLC purchased a new position in OLO during the fourth quarter valued at approximately $26,000. Global Retirement Partners LLC purchased a new position in OLO during the fourth quarter valued at approximately $27,000. SBI Securities Co. Ltd. purchased a new position in OLO during the fourth quarter valued at approximately $35,000. Envestnet Asset Management Inc. purchased a new position in OLO during the fourth quarter valued at approximately $80,000. Finally, Franklin Resources Inc. purchased a new position in OLO during the fourth quarter valued at approximately $81,000. 93.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on OLO shares. Lake Street Capital lifted their price target on shares of OLO from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, May 9th. StockNews.com lowered shares of OLO from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th.

OLO Price Performance

NYSE OLO traded down $0.19 on Monday, hitting $8.97. The stock had a trading volume of 1,625,621 shares, compared to its average volume of 1,246,870. The business's fifty day moving average price is $6.74 and its 200 day moving average price is $7.01. Olo Inc. has a 52-week low of $4.20 and a 52-week high of $9.78. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -89.69 and a beta of 1.41.

OLO (NYSE:OLO - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.01. The firm had revenue of $80.68 million for the quarter, compared to analyst estimates of $77.47 million. OLO had a negative net margin of 5.89% and a positive return on equity of 0.34%. The business's quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.05 earnings per share. As a group, sell-side analysts anticipate that Olo Inc. will post -0.03 EPS for the current year.

OLO Company Profile

Olo, Inc engages in the provision of a cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded by Noah H. Glass on June 1, 2005 and is headquartered in New York, NY.