HB Wealth Management LLC Buys Shares of 27,941 Olo Inc. (NYSE:OLO)

HB Wealth Management LLC bought a new stake in Olo Inc. (NYSE:OLO - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 27,941 shares of the company's stock, valued at approximately $169,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of OLO. SMI Advisory Services LLC acquired a new stake in OLO during the 1st quarter worth $62,000. Calamos Advisors LLC purchased a new stake in shares of OLO in the 1st quarter valued at approximately $63,000. Envestnet Asset Management Inc. purchased a new position in shares of OLO in the fourth quarter valued at approximately $80,000. Franklin Resources Inc. purchased a new position in shares of OLO in the 4th quarter valued at about $81,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in OLO during the 1st quarter worth about $93,000. Institutional investors and hedge funds own 93.40% of the company's stock.

Insider Transactions at OLO

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

OLO Stock Performance

Shares of OLO stock traded down $0.08 on Thursday, hitting $10.32. The stock had a trading volume of 2,949,492 shares, compared to its average volume of 2,233,979. Olo Inc. has a 52-week low of $4.56 and a 52-week high of $10.55. The stock's 50 day moving average is $9.44 and its 200-day moving average is $7.86. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 148.29 and a beta of 1.58.

OLO (NYSE:OLO - Get Free Report) last released its earnings results 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). The company had revenue of $85.72 million during the quarter, compared to the consensus estimate of $82.23 million. OLO had a positive return on equity of 2.13% and a negative net margin of 0.28%. OLO's revenue for the quarter was up 21.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.05 EPS. Equities analysts expect that Olo Inc. will post -0.03 earnings per share for the current year.

Analysts Set New Price Targets

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