Stock Traders Buy Large Volume of OLO Call Options (NYSE:OLO)

Olo Inc. (NYSE:OLO - Get Free Report) was the recipient of unusually large options trading activity on Thursday. Traders purchased 2,218 call options on the stock. This is an increase of 452% compared to the typical daily volume of 402 call options.

Insider Activity

In other OLO news, insider Robert Morvillo sold 10,129 shares of OLO stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $8.80, for a total transaction of $89,135.20. Following the completion of the transaction, the insider directly owned 386,516 shares of the company's stock, valued at $3,401,340.80. The trade was a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Peter J. Benevides sold 23,078 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $8.80, for a total transaction of $203,086.40. Following the completion of the sale, the chief financial officer directly owned 702,061 shares of the company's stock, valued at approximately $6,178,136.80. The trade was a 3.18% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 98,630 shares of company stock valued at $864,454. 39.33% of the stock is owned by corporate insiders.

Institutional Trading of OLO

Hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in shares of OLO in the 4th quarter valued at $2,346,000. Norges Bank acquired a new position in shares of OLO in the fourth quarter valued at approximately $5,181,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in OLO by 3.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,482 shares of the company's stock valued at $457,000 after buying an additional 1,740 shares during the last quarter. Ameriprise Financial Inc. boosted its position in OLO by 2.0% during the 4th quarter. Ameriprise Financial Inc. now owns 672,841 shares of the company's stock worth $5,167,000 after buying an additional 13,387 shares during the period. Finally, ProShare Advisors LLC raised its stake in shares of OLO by 49.0% during the fourth 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 during the last quarter. Institutional investors and hedge funds own 93.40% of the company's stock.

OLO Stock Up 13.5%

Shares of OLO stock traded up $1.21 during trading hours on Thursday, reaching $10.12. The company's stock had a trading volume of 22,928,819 shares, compared to its average volume of 1,417,173. OLO has a fifty-two week low of $4.20 and a fifty-two week high of $10.28. The firm's 50 day simple moving average is $8.39 and its 200-day simple moving average is $7.42. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 505.50 and a beta of 1.57.

OLO (NYSE:OLO - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. The business had revenue of $80.68 million for the quarter, compared to analyst estimates of $77.47 million. OLO had a return on equity of 1.46% and a net margin of 1.09%. OLO's revenue was up 21.3% compared to the same quarter last year. During the same period last year, the firm posted $0.05 earnings per share. Sell-side analysts predict that OLO will post -0.03 earnings per share for the current year.

Wall Street Analyst Weigh In

OLO has been the topic of a number of recent analyst reports. Lake Street Capital raised their price target on OLO from $9.00 to $10.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Wall Street Zen lowered shares of OLO from a "buy" rating to a "hold" rating in a report on Friday, May 30th.

OLO Company 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.

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