Broadwood Capital Inc. bought a new stake in shares of Olo Inc. (NYSE:OLO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,782,334 shares of the company's stock, valued at approximately $10,765,000. OLO makes up about 0.9% of Broadwood Capital Inc.'s portfolio, making the stock its 7th largest position. Broadwood Capital Inc. owned about 1.07% of OLO as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. acquired a new position in OLO in the fourth quarter valued at approximately $80,000. Calamos Advisors LLC acquired a new position in OLO in the first quarter valued at approximately $63,000. SMI Advisory Services LLC acquired a new position in OLO in the first quarter valued at approximately $62,000. Corton Capital Inc. acquired a new position in OLO in the first quarter valued at approximately $66,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in OLO in the first quarter valued at approximately $93,000. Institutional investors and hedge funds own 93.40% of the company's stock.
OLO Stock Up 0.0%
OLO stock opened at $10.26 on Wednesday. The company's fifty day simple moving average is $10.05 and its 200-day simple moving average is $8.24. Olo Inc. has a 12 month low of $4.56 and a 12 month high of $10.55. The stock has a market cap of $1.74 billion, a P/E ratio of 28.49 and a beta of 1.58.
OLO (NYSE:OLO - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.07 EPS for the quarter, missing the consensus estimate 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 analysts' expectations of $82.23 million. During the same quarter in the prior year, the firm earned $0.05 earnings per share. The company's revenue was up 21.6% on a year-over-year basis. On average, equities research analysts expect that Olo Inc. will post -0.03 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, Director Zuhairah Scott Washington sold 10,000 shares of OLO stock in a transaction on Monday, June 16th. The shares were sold at an average price of $8.48, for a total value of $84,800.00. Following the completion of the sale, the director owned 68,677 shares of the company's stock, valued at approximately $582,380.96. The trade was a 12.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel Harris Meyer sold 6,000 shares of OLO stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $10.20, for a total transaction of $61,200.00. Following the completion of the sale, the director directly owned 125,324 shares of the company's stock, valued at approximately $1,278,304.80. The trade was a 4.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,630 shares of company stock worth $925,654 in the last 90 days. 38.41% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of brokerages have commented on OLO. Royal Bank Of Canada restated a "sector perform" rating and issued a $10.25 target price on shares of OLO in a research note on Monday, July 7th. Truist Financial cut OLO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 8th. Lake Street Capital cut OLO from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. Wall Street Zen cut OLO from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Piper Sandler lifted their price target on shares of OLO from $8.00 to $10.25 and gave the stock a "neutral" rating in a research report on Monday, July 7th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $10.17.
Check Out Our Latest Report on OLO
OLO Company Profile
(
Free Report)
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.
Further Reading
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