Palogic Value Management L.P. Has $1.52 Million Position 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. reduced its holdings in shares of Olo Inc. (NYSE:OLO - Free Report) by 15.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 250,987 shares of the company's stock after selling 45,316 shares during the period. Palogic Value Management L.P. owned about 0.15% of OLO worth $1,516,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of OLO by 3.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,482 shares of the company's stock valued at $457,000 after acquiring an additional 1,740 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of OLO by 2.0% during the 4th quarter. Ameriprise Financial Inc. now owns 672,841 shares of the company's stock valued at $5,167,000 after acquiring an additional 13,387 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of OLO by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 29,504 shares of the company's stock valued at $227,000 after acquiring an additional 9,709 shares in the last quarter. Northern Trust Corp boosted its position in shares of OLO by 8.0% during the 4th quarter. Northern Trust Corp now owns 1,016,295 shares of the company's stock valued at $7,805,000 after acquiring an additional 75,307 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of OLO by 20.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,173 shares of the company's stock valued at $1,269,000 after acquiring an additional 27,496 shares in the last quarter. 93.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at OLO

In other OLO news, Director Zuhairah Scott Washington sold 10,000 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $8.48, for a total value of $84,800.00. Following the completion of the transaction, the director directly owned 68,677 shares of the company's stock, valued at approximately $582,380.96. The trade was a 12.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel Harris Meyer sold 6,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $10.20, for a total transaction of $61,200.00. Following the completion of the transaction, the director directly owned 125,324 shares of the company's stock, valued at approximately $1,278,304.80. This represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,000 shares of company stock valued at $154,510. Insiders own 38.41% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on OLO shares. Royal Bank Of Canada reiterated 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 lowered shares of OLO from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Wall Street Zen lowered shares of OLO from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Truist Financial lowered shares of OLO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 8th. Finally, Piper Sandler boosted their price target on shares of OLO from $8.00 to $10.25 and gave the company a "neutral" rating in a research report on Monday, July 7th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, OLO currently has an average rating of "Hold" and an average target price of $10.17.

OLO Stock Up 0.1%

NYSE:OLO opened at $10.28 on Tuesday. The firm has a market cap of $1.74 billion, a PE 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. The company's 50-day moving average price is $10.17 and its two-hundred day moving average price is $8.34.

OLO (NYSE:OLO - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $85.72 million during the quarter, compared to the consensus estimate of $82.23 million. During the same period in the prior year, the firm posted $0.05 earnings per share. The company's revenue was up 21.6% on a year-over-year basis. On average, research analysts expect that Olo Inc. will post -0.03 EPS for the current fiscal 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.

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