26,075 Shares in Olo Inc. (NYSE:OLO) Bought by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC acquired a new stake in Olo Inc. (NYSE:OLO - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 26,075 shares of the company's stock, valued at approximately $157,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Arizona State Retirement System increased its holdings in 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 purchasing an additional 1,464 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in OLO by 3.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,482 shares of the company's stock worth $457,000 after purchasing an additional 1,740 shares during the period. Invesco Ltd. increased its holdings in OLO by 1.9% during the 4th quarter. Invesco Ltd. now owns 121,611 shares of the company's stock worth $934,000 after purchasing an additional 2,261 shares during the period. California State Teachers Retirement System increased its holdings in OLO by 2.8% during the 4th quarter. California State Teachers Retirement System now owns 97,847 shares of the company's stock worth $751,000 after purchasing an additional 2,666 shares during the period. Finally, Diversified Trust Co increased its holdings in OLO by 12.8% during the 1st quarter. Diversified Trust Co now owns 33,343 shares of the company's stock worth $201,000 after purchasing an additional 3,793 shares during the period. Hedge funds and other institutional investors own 93.40% of the company's stock.

OLO Stock Performance

Shares of NYSE:OLO traded up $0.01 on Monday, hitting $10.13. 3,766,040 shares of the company's stock were exchanged, compared to its average volume of 1,925,201. The firm's 50-day moving average is $8.89 and its 200 day moving average is $7.54. The company has a market capitalization of $1.68 billion, a PE ratio of 506.50 and a beta of 1.57. Olo Inc. has a 1-year low of $4.53 and a 1-year high of $10.15.

OLO (NYSE:OLO - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.01. The firm had revenue of $80.68 million during the quarter, compared to analysts' expectations of $77.47 million. OLO had a return on equity of 1.46% and a net margin of 1.09%. The business's revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS. On average, analysts anticipate that Olo Inc. will post -0.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Truist Financial downgraded OLO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 8th. Piper Sandler upped their price objective on OLO from $8.00 to $10.25 and gave the stock a "neutral" rating in a research report on Monday, July 7th. Lake Street Capital cut OLO from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Wall Street Zen cut OLO from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $10.25 price objective on shares of OLO in a research report on Monday, July 7th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $10.17.

Insider Transactions at OLO

In other OLO news, CFO Peter J. Benevides sold 23,078 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $8.80, for a total transaction of $203,086.40. Following the completion of the sale, the chief financial officer directly owned 702,061 shares of the company's stock, valued at $6,178,136.80. This represents a 3.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Morvillo sold 10,129 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $8.80, for a total value of $89,135.20. Following the sale, the insider directly owned 386,516 shares of the company's stock, valued at approximately $3,401,340.80. This represents a 2.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 98,630 shares of company stock worth $864,454. Insiders own 39.33% 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.