AlphaQuest LLC Buys Shares of 65,235 Olo Inc. (NYSE:OLO)

AlphaQuest LLC bought a new stake in shares of Olo Inc. (NYSE:OLO) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 65,235 shares of the company’s stock, valued at approximately $501,000.

Several other hedge funds have also bought and sold shares of OLO. Aigen Investment Management LP bought a new stake in OLO during the third quarter valued at approximately $132,000. MQS Management LLC lifted its position in OLO by 15.9% during the third quarter. MQS Management LLC now owns 28,363 shares of the company’s stock valued at $141,000 after purchasing an additional 3,898 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in OLO by 52.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,410,528 shares of the company’s stock valued at $6,996,000 after purchasing an additional 487,919 shares during the last quarter. Intech Investment Management LLC bought a new stake in OLO during the third quarter valued at approximately $100,000. Finally, Landscape Capital Management L.L.C. bought a new stake in OLO during the third quarter valued at approximately $1,600,000. 93.40% of the stock is currently owned by institutional investors.

OLO Stock Performance

OLO stock opened at $6.32 on Thursday. Olo Inc. has a one year low of $4.20 and a one year high of $8.35. The company’s 50 day moving average price is $7.19 and its two-hundred day moving average price is $6.38. The company has a market capitalization of $1.05 billion, a PE ratio of -63.16 and a beta of 1.41.

OLO (NYSE:OLO) last issued its earnings results on Tuesday, February 25th. The company reported $0.01 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $72.76 million. On average, research analysts predict that Olo Inc. will post -0.03 EPS for the current year.

Analyst Ratings Changes

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

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.