Two Sigma Advisers LP Grows Stake in Olo Inc. (NYSE:OLO)

Two Sigma Advisers LP increased its holdings in Olo Inc. (NYSE:OLO - Free Report) by 85.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,655,500 shares of the company's stock after purchasing an additional 763,400 shares during the quarter. Two Sigma Advisers LP owned approximately 1.01% of OLO worth $12,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of OLO in the 4th quarter worth approximately $2,346,000. Norges Bank purchased a new stake in OLO in the fourth quarter worth $5,181,000. Moloney Securities Asset Management LLC bought a new position in OLO in the 4th quarter worth $407,000. Teacher Retirement System of Texas purchased a new stake in shares of OLO in the 4th quarter worth about $890,000. Finally, Geode Capital Management LLC lifted its position in shares of OLO by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 2,466,289 shares of the company's stock worth $18,945,000 after purchasing an additional 21,484 shares during the period. Hedge funds and other institutional investors own 93.40% of the company's stock.

OLO Stock Up 3.1%

Shares of NYSE:OLO traded up $0.28 during midday trading on Tuesday, reaching $9.03. The company's stock had a trading volume of 629,470 shares, compared to its average volume of 1,249,274. The firm has a 50 day moving average of $7.01 and a 200-day moving average of $7.12. The firm has a market capitalization of $1.50 billion, a P/E ratio of -90.24 and a beta of 1.41. Olo Inc. has a 12-month low of $4.20 and a 12-month high of $9.78.

OLO (NYSE:OLO - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.01. The company had revenue of $80.68 million during the quarter, compared to analysts' expectations of $77.47 million. OLO had a negative net margin of 5.89% and a positive return on equity of 0.34%. OLO's revenue was up 21.3% on a year-over-year basis. During the same period last year, the company posted $0.05 EPS. On average, research analysts predict that Olo Inc. will post -0.03 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OLO. Wall Street Zen upgraded shares of OLO from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Lake Street Capital upped their target price on OLO from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, May 9th.

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.