CenterBook Partners LP Reduces Position in Olo Inc. (NYSE:OLO)

CenterBook Partners LP trimmed its position in Olo Inc. (NYSE:OLO) by 97.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,260 shares of the company’s stock after selling 1,370,171 shares during the quarter. CenterBook Partners LP’s holdings in OLO were worth $309,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Tandem Financial LLC bought a new stake in OLO in the 4th quarter worth $26,000. Global Retirement Partners LLC bought a new stake in shares of OLO in the fourth quarter worth about $27,000. SBI Securities Co. Ltd. purchased a new position in OLO during the 4th quarter valued at about $35,000. Point72 Asset Management L.P. bought a new position in OLO during the 3rd quarter valued at approximately $74,000. Finally, Envestnet Asset Management Inc. bought a new position in OLO during the 4th quarter valued at approximately $80,000. 93.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OLO has been the topic of several research analyst reports. StockNews.com cut OLO from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Royal Bank of Canada boosted their price objective on shares of OLO from $8.00 to $9.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Piper Sandler restated a “neutral” rating and issued a $8.00 price objective on shares of OLO in a report on Wednesday, January 8th.

OLO Stock Performance

Shares of NYSE:OLO opened at $6.17 on Friday. The firm has a market capitalization of $1.02 billion, a P/E ratio of -61.64 and a beta of 1.42. The stock has a 50 day moving average price of $6.54 and a 200-day moving average price of $6.57. Olo Inc. has a 52-week low of $4.20 and a 52-week high of $8.35.

OLO (NYSE:OLO) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). OLO had a positive return on equity of 0.34% and a negative net margin of 5.89%. The firm had revenue of $76.07 million during the quarter, compared to the consensus estimate of $72.76 million. On average, equities analysts forecast that Olo Inc. will post -0.03 EPS for the current fiscal year.

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.