Caxton Associates LLP Makes New $363,000 Investment in Olo Inc. $OLO

Key Points

• Caxton Associates LLP has made a new investment in Olo Inc., purchasing 60,128 shares valued at approximately $363,000 during the first quarter.
• Despite the investment interest, Olo Inc. reported earnings per share (EPS) of $0.07 for the last quarter, missing analysts' expectations of $0.08, although revenue increased by 21.6% year-over-year.
• Olo's stock currently has a market capitalization of $1.74 billion and an average analyst rating of "Hold" with a consensus price target of $10.17.

Caxton Associates LLP bought a new position in shares of Olo Inc. (NYSE:OLO - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 60,128 shares of the company's stock, valued at approximately $363,000.

Several other hedge funds and other institutional investors have also modified their holdings of OLO. Northern Trust Corp boosted its holdings in shares of OLO by 8.0% during the 4th quarter. Northern Trust Corp now owns 1,016,295 shares of the company's stock worth $7,805,000 after buying an additional 75,307 shares during the period. Ameriprise Financial Inc. boosted its holdings in OLO by 2.0% in the 4th quarter. Ameriprise Financial Inc. now owns 672,841 shares of the company's stock valued at $5,167,000 after purchasing an additional 13,387 shares during the period. BNP Paribas Financial Markets bought a new stake in OLO in the 4th quarter valued at about $3,320,000. Graham Capital Management L.P. bought a new stake in OLO in the 4th quarter valued at about $554,000. Finally, Lazard Asset Management LLC boosted its holdings in OLO by 21.4% in the 4th quarter. Lazard Asset Management LLC now owns 215,349 shares of the company's stock valued at $1,653,000 after purchasing an additional 37,978 shares during the period. Institutional investors own 93.40% of the company's stock.

OLO Stock Performance

NYSE OLO remained flat at $10.26 on Thursday. Olo Inc. has a one year low of $4.56 and a one year high of $10.55. The business's fifty day simple moving average is $10.24 and its two-hundred day simple moving average is $8.51. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 28.50 and a beta of 1.58.

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

Wall Street Analyst Weigh In

OLO has been the subject of a number of recent research reports. Royal Bank Of Canada reissued a "sector perform" rating and issued a $10.25 price objective on shares of OLO in a report on Monday, July 7th. Wall Street Zen downgraded shares of OLO from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Truist Financial downgraded shares of OLO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 8th. Piper Sandler boosted their price objective on shares of OLO from $8.00 to $10.25 and gave the company a "neutral" rating in a report on Monday, July 7th. Finally, Lake Street Capital cut shares of OLO from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, OLO presently has a consensus rating of "Hold" and an average target price of $10.17.

Insider Transactions at OLO

In other OLO news, Director Daniel Harris Meyer sold 6,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $10.20, for a total value of $61,200.00. Following the completion of the sale, the director owned 125,324 shares in the company, valued at approximately $1,278,304.80. This trade represents a 4.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Joanna G. Lambert sold 38,275 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $10.25, for a total transaction of $392,318.75. Following the completion of the sale, the chief operating officer owned 886,871 shares of the company's stock, valued at approximately $9,090,427.75. This trade represents a 4.14% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 101,623 shares of company stock valued at $1,041,336. Corporate insiders own 38.41% of the company's stock.

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.