Nuveen LLC Invests $15.33 Million in Olo Inc. $OLO

Key Points

• Nuveen LLC acquired 2,538,059 shares of Olo Inc. ($OLO) valued at approximately $15.33 million, representing 1.53% ownership as of their latest SEC filing.
• A significant portion of Olo Inc.'s stock, about 93.40%, is owned by institutional investors, including recent increases in stakes from firms like LPL Financial and Wells Fargo.
• Analysts have given Olo Inc. a consensus rating of "Hold" with an average price target of $10.17, with several downgrading their ratings in recent reports.

Nuveen LLC bought a new stake in Olo Inc. (NYSE:OLO - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,538,059 shares of the company's stock, valued at approximately $15,330,000. Nuveen LLC owned about 1.53% of OLO at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of OLO. SMI Advisory Services LLC purchased a new position in shares of OLO in the 1st quarter valued at approximately $62,000. Calamos Advisors LLC purchased a new stake in shares of OLO in the first quarter valued at approximately $63,000. Corton Capital Inc. purchased a new stake in shares of OLO in the first quarter valued at approximately $66,000. Envestnet Asset Management Inc. purchased a new stake in shares of OLO in the fourth quarter valued at approximately $80,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of OLO in the first quarter valued at approximately $93,000. 93.40% of the stock is currently owned by hedge funds and other institutional investors.

OLO Stock Performance

OLO stock traded up $0.01 during midday trading on Tuesday, hitting $10.25. 2,150,934 shares of the stock were exchanged, compared to its average volume of 5,239,485. The stock's 50-day moving average price is $9.88 and its 200-day moving average price is $8.14. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 146.29 and a beta of 1.58. Olo Inc. has a fifty-two week low of $4.56 and a fifty-two week high of $10.55.

OLO (NYSE:OLO - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). OLO had a positive return on equity of 2.13% and a negative net margin of 0.28%.The firm had revenue of $85.72 million for the quarter, compared to analyst estimates of $82.23 million. During the same period in the prior year, the firm posted $0.05 earnings per share. The business's revenue for the quarter was up 21.6% compared to the same quarter last year. Research analysts anticipate that Olo Inc. will post -0.03 EPS for the current year.

Insider Transactions at OLO

In related news, insider Robert Morvillo sold 10,129 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 value of $89,135.20. Following the completion of the transaction, the insider directly owned 386,516 shares in the company, valued at approximately $3,401,340.80. This represents a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Zuhairah Scott Washington sold 10,000 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $8.48, for a total value of $84,800.00. Following the completion of the sale, the director directly owned 68,677 shares of the company's stock, valued at $582,380.96. The trade was a 12.71% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 104,630 shares of company stock valued at $925,654. Corporate insiders own 38.41% of the company's stock.

Analyst Upgrades and Downgrades

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

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.