Driehaus Capital Management LLC Makes New $9.69 Million Investment in Olo Inc. (NYSE:OLO)

Driehaus Capital Management LLC bought a new position in shares of Olo Inc. (NYSE:OLO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,261,888 shares of the company's stock, valued at approximately $9,691,000. Driehaus Capital Management LLC owned 0.77% of OLO as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Arizona State Retirement System boosted its holdings in shares of OLO by 5.1% during the 4th quarter. Arizona State Retirement System now owns 30,358 shares of the company's stock worth $233,000 after buying an additional 1,464 shares during the period. Invesco Ltd. boosted its holdings in shares of OLO by 1.9% during the 4th 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 period. Tandem Financial LLC bought a new stake in shares of OLO during the 4th quarter worth about $26,000. Global Retirement Partners LLC bought a new stake in shares of OLO during the 4th quarter worth about $27,000. Finally, EP Wealth Advisors LLC boosted its holdings in shares of OLO by 13.3% during the 4th quarter. EP Wealth Advisors LLC now owns 36,342 shares of the company's stock worth $279,000 after buying an additional 4,260 shares during the period. Institutional investors own 93.40% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on OLO shares. StockNews.com downgraded shares of OLO from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Lake Street Capital lifted their price objective on shares of OLO from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday, May 9th.

OLO Price Performance

OLO stock traded down $0.19 during midday trading on Thursday, hitting $9.28. The company's stock had a trading volume of 640,656 shares, compared to its average volume of 1,236,328. Olo Inc. has a 1-year low of $4.20 and a 1-year high of $9.78. The company has a 50-day moving average price of $6.57 and a two-hundred day moving average price of $6.90. The company has a market cap of $1.54 billion, a price-to-earnings ratio of -92.74 and a beta of 1.41.

OLO (NYSE:OLO - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $80.68 million during the quarter, compared to analysts' expectations 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 revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.05 EPS. Sell-side analysts forecast 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.