Amanah Holdings Trust Invests $3.38 Million in Olo Inc. $OLO

Key Points

• Amanah Holdings Trust has acquired 380,000 shares of Olo Inc. valued at approximately $3.38 million, making OLO the trust's 15th largest position.
• Multiple analysts recently downgraded OLO's ratings, with the average target price set at $10.17 and a consensus rating of "Hold."
• Olo Inc. reported a 21.6% increase in revenue year-over-year, although it missed earnings per share estimates in its latest quarterly report.

Amanah Holdings Trust bought a new stake in shares of Olo Inc. (NYSE:OLO - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 380,000 shares of the company's stock, valued at approximately $3,382,000. OLO accounts for 0.8% of Amanah Holdings Trust's holdings, making the stock its 15th biggest position. Amanah Holdings Trust owned 0.23% of OLO as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Voya Investment Management LLC raised its holdings in shares of OLO by 66.4% during the 1st quarter. Voya Investment Management LLC now owns 56,683 shares of the company's stock valued at $342,000 after buying an additional 22,616 shares during the period. SCS Capital Management LLC purchased a new stake in shares of OLO during the 1st quarter valued at about $146,000. Caxton Associates LLP purchased a new stake in shares of OLO during the 1st quarter valued at about $363,000. Dynamic Technology Lab Private Ltd increased its holdings in OLO by 13.2% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,071 shares of the company's stock worth $151,000 after purchasing an additional 2,922 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of OLO by 6.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 63,148 shares of the company's stock worth $381,000 after acquiring an additional 3,666 shares in the last quarter. 93.40% of the stock is currently owned by hedge funds and other institutional investors.

OLO Stock Performance

NYSE:OLO remained flat at $10.26 during midday trading on Friday. Olo Inc. has a one year low of $4.56 and a one year high of $10.55. The company has a market capitalization of $1.74 billion, a P/E ratio of 28.50 and a beta of 1.58. The firm's 50 day simple moving average is $10.24 and its 200 day simple moving average is $8.51.

OLO (NYSE:OLO - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.01). OLO had a negative net margin of 0.28% and a positive return on equity of 2.13%. The company had revenue of $85.72 million for the quarter, compared to analyst estimates of $82.23 million. During the same quarter in the prior year, the firm earned $0.05 EPS. The company's revenue for the quarter was up 21.6% compared to the same quarter last year. Equities research analysts predict that Olo Inc. will post -0.03 EPS for the current year.

Insider Activity

In other OLO news, COO Joanna G. Lambert sold 38,275 shares of the business's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $10.25, for a total value of $392,318.75. Following the transaction, the chief operating officer owned 886,871 shares in the company, valued at $9,090,427.75. The trade was a 4.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Robert Morvillo sold 10,736 shares of the business's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $10.25, for a total value of $110,044.00. Following the completion of the transaction, the insider owned 375,780 shares in the company, valued at $3,851,745. This trade represents a 2.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,623 shares of company stock valued at $1,041,336 in the last ninety days. Corporate insiders own 38.41% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on OLO. Piper Sandler lifted their target price on OLO from $8.00 to $10.25 and gave the stock a "neutral" rating in a research report on Monday, July 7th. Wall Street Zen lowered OLO from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $10.25 target price on shares of OLO in a research report on Monday, July 7th. Lake Street Capital lowered OLO from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Finally, Truist Financial lowered OLO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 8th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $10.17.

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.