Centiva Capital LP Invests $278,000 in Olo Inc. (NYSE:OLO)

Centiva Capital LP purchased a new stake in shares of Olo Inc. (NYSE:OLO - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 36,146 shares of the company's stock, valued at approximately $278,000.

Other hedge funds also recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its position in OLO by 5.1% in the 4th quarter. Arizona State Retirement System now owns 30,358 shares of the company's stock valued at $233,000 after buying an additional 1,464 shares during the period. Invesco Ltd. raised its holdings in shares of OLO by 1.9% in the fourth quarter. Invesco Ltd. now owns 121,611 shares of the company's stock worth $934,000 after buying an additional 2,261 shares during the last quarter. Tandem Financial LLC purchased a new position in shares of OLO in the fourth quarter worth $26,000. Global Retirement Partners LLC purchased a new position in shares of OLO in the fourth quarter worth $27,000. Finally, Connors Investor Services Inc. increased its stake in shares of OLO by 13.2% in the fourth quarter. Connors Investor Services Inc. now owns 38,495 shares of the company's stock worth $296,000 after acquiring an additional 4,495 shares during the period. 93.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on OLO shares. Lake Street Capital raised their price target on shares of OLO from $9.00 to $10.00 and gave the company a "buy" rating in a research report on Friday. StockNews.com downgraded shares of OLO from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th.

OLO Stock Up 6.1%

Shares of OLO stock opened at $9.18 on Tuesday. Olo Inc. has a 52-week low of $4.20 and a 52-week high of $9.24. The company has a 50 day moving average of $6.44 and a 200 day moving average of $6.86. The company has a market capitalization of $1.52 billion, a P/E ratio of -91.74 and a beta of 1.41.

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

About OLO

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.

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