Laurus Global Equity Management Inc. Invests $424,000 in Olo Inc. (NYSE:OLO)

Laurus Global Equity Management Inc. purchased a new stake in Olo Inc. (NYSE:OLO - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 70,230 shares of the company's stock, valued at approximately $424,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SMI Advisory Services LLC bought a new position in OLO in the first quarter valued at about $62,000. Calamos Advisors LLC bought a new position in OLO in the first quarter valued at about $63,000. Envestnet Asset Management Inc. bought a new position in OLO in the fourth quarter valued at about $80,000. Franklin Resources Inc. bought a new position in OLO in the fourth quarter valued at about $81,000. Finally, TFJ Management LLC bought a new position in OLO in the fourth quarter valued at about $107,000. Institutional investors and hedge funds own 93.40% of the company's stock.

OLO Stock Up 0.0%

Shares of OLO stock traded up $0.01 during trading hours on Tuesday, hitting $10.13. 3,214,070 shares of the company's stock traded hands, compared to its average volume of 1,591,957. The stock's 50 day simple moving average is $8.95 and its 200 day simple moving average is $7.55. Olo Inc. has a 12 month low of $4.53 and a 12 month high of $10.15. The stock has a market cap of $1.68 billion, a PE ratio of 506.50 and a beta of 1.57.

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

Insiders Place Their Bets

In other OLO news, insider Sherri Manning sold 5,657 shares of the business'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 value of $49,781.60. Following the transaction, the insider directly 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Noah H. Glass sold 10,152 shares of the business'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 $89,337.60. Following the completion of the transaction, the chief executive officer directly owned 278,202 shares in the company, valued at approximately $2,448,177.60. This trade represents a 3.52% 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. Insiders own 39.33% of the company's stock.

Analyst Upgrades and Downgrades

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

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.