Caxton Associates LP Makes New $516,000 Investment in Olo Inc. (NYSE:OLO)

Caxton Associates LP purchased a new position in Olo Inc. (NYSE:OLO - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 67,239 shares of the company's stock, valued at approximately $516,000.

Other hedge funds have also modified their holdings of the company. Tandem Financial LLC purchased a new stake in shares of OLO in the fourth quarter valued at $26,000. Global Retirement Partners LLC bought a new stake in shares of OLO in the 4th quarter valued at about $27,000. SBI Securities Co. Ltd. purchased a new position in OLO during the 4th quarter worth $35,000. Envestnet Asset Management Inc. acquired a new position in OLO during the 4th quarter valued at approximately $80,000. Finally, Franklin Resources Inc. acquired a new position in shares of OLO in the fourth quarter valued at about $81,000. 93.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. StockNews.com cut shares of OLO from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Lake Street Capital lifted their price target on OLO from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Friday.

OLO Stock Up 7.5 %

Shares of OLO traded up $0.60 during trading on Friday, reaching $8.65. 3,643,954 shares of the company traded hands, compared to its average volume of 1,221,260. The stock has a market cap of $1.44 billion, a PE ratio of -86.49 and a beta of 1.41. The stock has a 50-day simple moving average of $6.39 and a 200-day simple moving average of $6.80. Olo Inc. has a twelve month low of $4.20 and a twelve month high of $8.82.

OLO (NYSE:OLO - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.01. OLO had a positive return on equity of 0.34% and a negative net margin of 5.89%. The company had revenue of $80.68 million during the quarter, compared to analysts' expectations of $77.47 million. During the same period last year, the business posted $0.05 EPS. OLO's revenue for the quarter was up 21.3% on a year-over-year basis. On average, equities research analysts predict that Olo Inc. will post -0.03 EPS for the current year.

About OLO

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