Palogic Value Management L.P. Sells 395,000 Shares of Olo Inc. (NYSE:OLO)

Palogic Value Management L.P. lessened its stake in shares of Olo Inc. (NYSE:OLO - Free Report) by 57.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 296,303 shares of the company's stock after selling 395,000 shares during the quarter. Palogic Value Management L.P. owned about 0.18% of OLO worth $2,276,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in OLO. Arizona State Retirement System lifted its stake in shares of OLO by 5.1% in the 4th quarter. Arizona State Retirement System now owns 30,358 shares of the company's stock worth $233,000 after purchasing an additional 1,464 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of OLO by 3.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,482 shares of the company's stock worth $457,000 after purchasing an additional 1,740 shares during the period. Invesco Ltd. lifted its stake in shares of OLO by 1.9% in the 4th quarter. Invesco Ltd. now owns 121,611 shares of the company's stock worth $934,000 after purchasing an additional 2,261 shares during the period. Tandem Financial LLC bought a new position in shares of OLO in the 4th quarter worth approximately $26,000. Finally, Global Retirement Partners LLC bought a new position in shares of OLO in the 4th quarter worth approximately $27,000. Hedge funds and other institutional investors own 93.40% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Lake Street Capital increased their price objective on shares of 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 cut shares of OLO from a "buy" rating to a "hold" rating in a research note on Friday.

OLO Price Performance

NYSE OLO remained flat at $8.73 on Friday. 1,273,055 shares of the company's stock were exchanged, compared to its average volume of 1,259,450. Olo Inc. has a 12 month low of $4.20 and a 12 month high of $9.78. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -87.29 and a beta of 1.41. The firm's 50 day moving average price is $7.20 and its 200-day moving average price is $7.19.

OLO (NYSE:OLO - Get Free Report) last released its 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 negative net margin of 5.89% and a positive return on equity of 0.34%. 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 EPS. The firm's revenue was up 21.3% compared to the same quarter last year. As a group, research analysts predict that Olo Inc. will post -0.03 earnings per share for the current year.

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.