Olo Inc. (NYSE:OLO) Stake Reduced by Legato Capital Management LLC

Legato Capital Management LLC cut its holdings in Olo Inc. (NYSE:OLO) by 23.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 116,527 shares of the company’s stock after selling 34,842 shares during the quarter. Legato Capital Management LLC owned about 0.07% of OLO worth $895,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in OLO by 14.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,017,934 shares of the company’s stock worth $5,049,000 after acquiring an additional 127,569 shares in the last quarter. Barclays PLC raised its position in OLO by 399.3% in the third quarter. Barclays PLC now owns 190,335 shares of the company’s stock worth $943,000 after acquiring an additional 152,214 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in OLO in the third quarter worth about $1,600,000. XTX Topco Ltd raised its holdings in OLO by 478.6% during the 3rd quarter. XTX Topco Ltd now owns 168,577 shares of the company’s stock worth $836,000 after buying an additional 139,441 shares during the period. Finally, Walleye Capital LLC acquired a new stake in OLO during the 3rd quarter worth about $1,437,000. 93.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

OLO Price Performance

Shares of OLO opened at $7.35 on Friday. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -73.45 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. The business’s 50-day moving average is $7.56 and its 200-day moving average is $6.17.

OLO Company Profile

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.