Renaissance Technologies LLC Acquires 174,200 Shares of Olo Inc. (NYSE:OLO)

Renaissance Technologies LLC boosted its holdings in Olo Inc. (NYSE:OLO) by 11.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,660,700 shares of the company’s stock after acquiring an additional 174,200 shares during the quarter. Renaissance Technologies LLC owned 1.01% of OLO worth $12,754,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Tandem Financial LLC bought a new position in shares of OLO in the fourth quarter valued at approximately $26,000. Global Retirement Partners LLC bought a new position in OLO during the 4th quarter valued at $27,000. SBI Securities Co. Ltd. bought a new position in OLO during the 4th quarter valued at $35,000. Envestnet Asset Management Inc. purchased a new position in OLO during the 4th quarter worth $80,000. Finally, Franklin Resources Inc. bought a new stake in shares of OLO in the 4th quarter worth $81,000. Institutional investors and hedge funds own 93.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on OLO. StockNews.com cut shares of OLO from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Piper Sandler restated a “neutral” rating and issued a $8.00 target price on shares of OLO in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada increased their price target on OLO from $8.00 to $9.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd.

OLO Stock Performance

NYSE OLO opened at $6.11 on Wednesday. The company has a market capitalization of $1.01 billion, a PE ratio of -61.11 and a beta of 1.42. Olo Inc. has a 52-week low of $4.20 and a 52-week high of $8.35. The company has a 50-day simple moving average of $6.49 and a 200 day simple moving average of $6.58.

OLO (NYSE:OLO) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.01 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 company had revenue of $76.07 million during the quarter, compared to the consensus estimate of $72.76 million. As a group, analysts forecast that Olo Inc. will post -0.03 EPS for the current fiscal year.

OLO 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.