Moloney Securities Asset Management LLC Buys New Shares in Olo Inc. (NYSE:OLO)

Moloney Securities Asset Management LLC purchased a new position in Olo Inc. (NYSE:OLO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 53,000 shares of the company’s stock, valued at approximately $407,000.

Several other institutional investors also recently modified their holdings of OLO. Tandem Financial LLC bought a new stake in shares of OLO during the 4th quarter worth $26,000. SPC Financial Inc. acquired a new position in shares of OLO in the 3rd quarter valued at $65,000. Point72 Asset Management L.P. purchased a new position in OLO in the 3rd quarter worth about $74,000. Benjamin Edwards Inc. purchased a new position in OLO in the 3rd quarter worth about $91,000. Finally, Marshall Wace LLP acquired a new stake in OLO during the 2nd quarter worth about $99,000. Institutional investors own 93.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on OLO shares. Royal Bank of Canada lifted their target price on shares of OLO from $8.00 to $9.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Piper Sandler reiterated a “neutral” rating and set a $8.00 price objective on shares of OLO in a research report on Wednesday, January 8th. Finally, StockNews.com downgraded shares of OLO from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th.

OLO Price Performance

NYSE:OLO opened at $7.17 on Tuesday. The stock’s 50-day moving average is $7.56 and its two-hundred day moving average is $6.14. The stock has a market cap of $1.17 billion, a PE ratio of -71.64 and a beta of 1.41. Olo Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $8.35.

About OLO

Olo, Inc engages in the provision of cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded in 2005 and is headquartered in New York, NY.