Palogic Value Management L.P. Cuts Stock Holdings in Olo Inc. $OLO

Key Points

• Palogic Value Management L.P. reduced its position in Olo Inc. by 15.3%, now owning approximately $1.52 million worth of shares.
• Insider transactions included a notable sale by Director Zuhairah Scott Washington, who sold 10,000 shares at an average price of $8.48, representing a 12.71% decrease in ownership.
• Analysts have recently set an average target price of $10.17 for OLO shares, with several ratings being downgraded to "hold."

Palogic Value Management L.P. lessened its stake in Olo Inc. (NYSE:OLO - Free Report) by 15.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 250,987 shares of the company's stock after selling 45,316 shares during the period. Palogic Value Management L.P. owned 0.15% of OLO worth $1,516,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Caxton Associates LLP purchased a new position in OLO in the 1st quarter worth about $363,000. Dynamic Technology Lab Private Ltd increased its position in OLO by 13.2% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,071 shares of the company's stock valued at $151,000 after purchasing an additional 2,922 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in OLO by 6.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 63,148 shares of the company's stock valued at $381,000 after purchasing an additional 3,666 shares during the period. Broadwood Capital Inc. purchased a new position in OLO during the 1st quarter valued at about $10,765,000. Finally, EP Wealth Advisors LLC increased its position in OLO by 27.7% during the 1st quarter. EP Wealth Advisors LLC now owns 46,426 shares of the company's stock valued at $280,000 after purchasing an additional 10,084 shares during the period. Hedge funds and other institutional investors own 93.40% of the company's stock.

OLO Price Performance

OLO stock remained flat at $10.26 during trading on Friday. The business's 50 day simple moving average is $10.23 and its 200 day simple moving average is $8.42. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 146.57 and a beta of 1.58. Olo Inc. has a 12 month low of $4.56 and a 12 month high of $10.55.

OLO (NYSE:OLO - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.01). The company had revenue of $85.72 million during the quarter, compared to analyst estimates of $82.23 million. OLO had a positive return on equity of 2.13% and a negative net margin of 0.28%.The firm's revenue for the quarter was up 21.6% on a year-over-year basis. During the same quarter last year, the business earned $0.05 earnings per share. Sell-side analysts forecast that Olo Inc. will post -0.03 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Joanna G. Lambert sold 38,275 shares of OLO stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $10.25, for a total value of $392,318.75. Following the completion of the sale, the chief operating officer directly owned 886,871 shares in the company, valued at $9,090,427.75. This trade represents a 4.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Noah H. Glass sold 11,735 shares of OLO stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $10.25, for a total transaction of $120,283.75. Following the completion of the sale, the chief executive officer owned 266,467 shares of the company's stock, valued at $2,731,286.75. This trade represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 112,623 shares of company stock worth $1,134,646 over the last ninety days. Company insiders own 38.41% of the company's stock.

Wall Street Analyst Weigh In

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