Northern Trust Corp Acquires 75,307 Shares of Olo Inc. (NYSE:OLO)

Northern Trust Corp grew its holdings in shares of Olo Inc. (NYSE:OLO - Free Report) by 8.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,016,295 shares of the company's stock after purchasing an additional 75,307 shares during the period. Northern Trust Corp owned approximately 0.62% of OLO worth $7,805,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its position in OLO by 138.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,895,935 shares of the company's stock valued at $14,561,000 after acquiring an additional 1,100,307 shares in the last quarter. Norges Bank acquired a new stake in shares of OLO in the fourth quarter worth $5,181,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of OLO by 44.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,032,634 shares of the company's stock worth $15,611,000 after acquiring an additional 622,106 shares during the last quarter. Federated Hermes Inc. boosted its stake in OLO by 6,935.0% during the fourth quarter. Federated Hermes Inc. now owns 556,470 shares of the company's stock worth $4,274,000 after buying an additional 548,560 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in OLO by 544.8% during the fourth quarter. Alliancebernstein L.P. now owns 558,290 shares of the company's stock worth $4,288,000 after buying an additional 471,700 shares in the last quarter. Institutional investors own 93.40% of the company's stock.

Wall Street Analysts Forecast Growth

OLO has been the subject of a number of analyst reports. Lake Street Capital lifted their price objective on OLO from $9.00 to $10.00 and gave the company a "buy" rating in a report on Friday, May 9th. Wall Street Zen raised OLO from a "hold" rating to a "buy" rating in a report on Thursday.

OLO Trading Down 0.7%

OLO stock traded down $0.06 during trading hours on Friday, hitting $8.74. 990,053 shares of the stock were exchanged, compared to its average volume of 1,251,675. The firm has a market capitalization of $1.45 billion, a P/E ratio of -87.39 and a beta of 1.41. The company has a 50-day simple moving average of $6.96 and a two-hundred day simple moving average of $7.09. Olo Inc. has a 12 month low of $4.20 and a 12 month high of $9.78.

OLO (NYSE:OLO - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.07 EPS for the quarter, topping 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 company had revenue of $80.68 million for the quarter, compared to analysts' expectations of $77.47 million. During the same quarter last year, the business earned $0.05 earnings per share. OLO's revenue was up 21.3% on a year-over-year basis. On average, equities research analysts predict that Olo Inc. will post -0.03 earnings per share for the current year.

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.