Lazard Asset Management LLC Increases Stock Holdings in Olo Inc. (NYSE:OLO)

Lazard Asset Management LLC grew its holdings in shares of Olo Inc. (NYSE:OLO - Free Report) by 21.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 215,349 shares of the company's stock after purchasing an additional 37,978 shares during the period. Lazard Asset Management LLC owned approximately 0.13% of OLO worth $1,653,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tandem Financial LLC acquired a new position in OLO during the 4th quarter worth approximately $26,000. Global Retirement Partners LLC acquired a new stake in shares of OLO in the 4th quarter worth approximately $27,000. SBI Securities Co. Ltd. acquired a new stake in shares of OLO in the 4th quarter worth approximately $35,000. Envestnet Asset Management Inc. acquired a new stake in shares of OLO in the 4th quarter worth approximately $80,000. Finally, Franklin Resources Inc. acquired a new stake in shares of OLO in the 4th quarter worth approximately $81,000. Institutional investors and hedge funds own 93.40% of the company's stock.

OLO Stock Performance

OLO stock traded down $0.06 on Friday, reaching $8.74. The company had a trading volume of 990,053 shares, compared to its average volume of 1,250,737. Olo Inc. has a 1 year low of $4.20 and a 1 year high of $9.78. The company's fifty day moving average is $6.96 and its 200 day moving average is $7.08. The company has a market cap of $1.45 billion, a P/E ratio of -87.39 and a beta of 1.41.

OLO (NYSE:OLO - Get Free Report) last posted 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. OLO had a positive return on equity of 0.34% and a negative net margin of 5.89%. The firm had revenue of $80.68 million for the quarter, compared to analyst estimates of $77.47 million. During the same quarter in the prior year, the company earned $0.05 EPS. OLO's revenue was up 21.3% on a year-over-year basis. On average, sell-side analysts predict that Olo Inc. will post -0.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Wall Street Zen upgraded OLO from a "hold" rating to a "buy" rating in a report on Thursday. Lake Street Capital upped their price target on OLO from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, May 9th.

OLO 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.