Olo Inc. (NYSE:OLO) Shares Acquired by Northern Trust Corp

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

Several other hedge funds have also added to or reduced their stakes in OLO. Arrowstreet Capital Limited Partnership grew its holdings in OLO by 138.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,895,935 shares of the company's stock valued at $14,561,000 after buying an additional 1,100,307 shares in the last quarter. Norges Bank bought a new stake in shares of OLO in the 4th quarter valued at approximately $5,181,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of OLO by 44.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,032,634 shares of the company's stock valued at $15,611,000 after purchasing an additional 622,106 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of OLO by 6,935.0% in the 4th quarter. Federated Hermes Inc. now owns 556,470 shares of the company's stock valued at $4,274,000 after purchasing an additional 548,560 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of OLO by 544.8% in the 4th quarter. Alliancebernstein L.P. now owns 558,290 shares of the company's stock valued at $4,288,000 after purchasing an additional 471,700 shares during the last quarter. 93.40% of the stock is owned by institutional investors.

OLO Price Performance

Shares of NYSE OLO traded down $0.06 during midday trading on Friday, hitting $8.74. 990,053 shares of the company's stock were exchanged, compared to its average volume of 1,250,737. Olo Inc. has a twelve month low of $4.20 and a twelve month high of $9.78. The company has a market cap of $1.45 billion, a PE ratio of -87.39 and a beta of 1.41. The firm's fifty day simple moving average is $6.96 and its 200-day simple moving average is $7.08.

OLO (NYSE:OLO - Get Free Report) last released 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 business had revenue of $80.68 million for the quarter, compared to analyst estimates of $77.47 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The company's revenue for the quarter was up 21.3% compared to the same quarter last year. Equities analysts anticipate that Olo Inc. will post -0.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.