219,342 Shares in Olo Inc. (NYSE:OLO) Acquired by Jackson Creek Investment Advisors LLC

Jackson Creek Investment Advisors LLC bought a new position in Olo Inc. (NYSE:OLO - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 219,342 shares of the company's stock, valued at approximately $1,325,000. Jackson Creek Investment Advisors LLC owned approximately 0.13% of OLO at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in OLO. Driehaus Capital Management LLC bought a new position in shares of OLO during the fourth quarter valued at approximately $9,691,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of OLO by 138.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,895,935 shares of the company's stock worth $14,561,000 after purchasing an additional 1,100,307 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of OLO by 274.6% during the first quarter. Bank of New York Mellon Corp now owns 1,351,488 shares of the company's stock worth $8,163,000 after purchasing an additional 990,719 shares during the last quarter. Two Sigma Advisers LP increased its holdings in OLO by 85.6% in the fourth quarter. Two Sigma Advisers LP now owns 1,655,500 shares of the company's stock valued at $12,714,000 after buying an additional 763,400 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in OLO by 48.5% in the fourth quarter. Nuveen Asset Management LLC now owns 2,321,232 shares of the company's stock valued at $17,827,000 after buying an additional 757,617 shares in the last quarter. 93.40% of the stock is currently owned by institutional investors.

OLO Stock Performance

Shares of NYSE:OLO traded up $0.02 during trading hours on Monday, reaching $10.15. The stock had a trading volume of 361,509 shares, compared to its average volume of 1,618,424. Olo Inc. has a 1 year low of $4.56 and a 1 year high of $10.16. The firm's 50 day moving average is $9.13 and its 200-day moving average is $7.62. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 507.50 and a beta of 1.57.

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

Analyst Upgrades and Downgrades

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

Insider Activity

In other OLO news, CEO Noah H. Glass sold 10,152 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $8.80, for a total transaction of $89,337.60. Following the completion of the transaction, the chief executive officer owned 278,202 shares in the company, valued at approximately $2,448,177.60. This represents a 3.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sherri Manning sold 5,657 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $8.80, for a total transaction of $49,781.60. Following the transaction, the insider owned 297,926 shares of the company's stock, valued at approximately $2,621,748.80. The trade was a 1.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 98,630 shares of company stock worth $864,454 over the last 90 days. 39.33% of the stock is owned by corporate insiders.

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.