Russell Investments Group Ltd. Buys 256,326 Shares of Olo Inc. $OLO

Key Points

• Russell Investments Group Ltd. significantly increased its stake in Olo Inc. by 1,144.5%, owning 278,722 shares valued at approximately $1.68 million after acquiring 256,326 additional shares in the first quarter.
• Olo Inc.'s recent quarterly earnings report revealed a net margin of -0.28% and a revenue of $85.72 million, surpassing analyst expectations while its EPS was $0.07, slightly below the consensus estimate.
• Multiple hedge funds including Nuveen LLC and Invesco Ltd. have increased their holdings in OLO, contributing to institutional investors owning 93.40% of the company's stock overall.

Russell Investments Group Ltd. lifted its holdings in shares of Olo Inc. (NYSE:OLO - Free Report) by 1,144.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 278,722 shares of the company's stock after acquiring an additional 256,326 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.17% of OLO worth $1,684,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in OLO by 3.0% in the fourth 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 in the last quarter. Invesco Ltd. raised its holdings in OLO by 1.9% in the fourth quarter. Invesco Ltd. now owns 121,611 shares of the company's stock worth $934,000 after purchasing an additional 2,261 shares in the last quarter. California State Teachers Retirement System raised its holdings in OLO by 2.8% in the fourth quarter. California State Teachers Retirement System now owns 97,847 shares of the company's stock worth $751,000 after purchasing an additional 2,666 shares in the last quarter. Diversified Trust Co raised its holdings in OLO by 12.8% in the first quarter. Diversified Trust Co now owns 33,343 shares of the company's stock worth $201,000 after purchasing an additional 3,793 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its holdings in OLO by 13.3% in the fourth quarter. EP Wealth Advisors LLC now owns 36,342 shares of the company's stock worth $279,000 after purchasing an additional 4,260 shares in the last quarter. Institutional investors own 93.40% of the company's stock.

Insider Activity

In other OLO news, insider Sherri Manning sold 5,657 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $8.80, for a total value of $49,781.60. Following the transaction, the insider owned 297,926 shares of the company's stock, valued at approximately $2,621,748.80. This represents a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Morvillo sold 10,129 shares of the stock in a transaction dated Thursday, June 5th. The shares were 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,630 shares of company stock worth $925,654. 38.41% of the stock is owned by corporate insiders.

OLO Stock Up 0.1%

Shares of NYSE OLO traded up $0.02 during trading on Friday, reaching $10.25. 2,042,322 shares of the company traded hands, compared to its average volume of 4,249,581. The firm has a 50 day simple moving average of $9.98 and a 200-day simple moving average of $8.19. The stock has a market capitalization of $1.74 billion, a PE ratio of 146.14 and a beta of 1.58. Olo Inc. has a 52-week low of $4.56 and a 52-week high of $10.55.

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

Analysts Set New Price Targets

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

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.