Algert Global LLC Raises Stock Holdings in Olo Inc. (NYSE:OLO)

Algert Global LLC grew its position in Olo Inc. (NYSE:OLO) by 9.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 778,395 shares of the company’s stock after acquiring an additional 68,076 shares during the quarter. Algert Global LLC’s holdings in OLO were worth $3,861,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Federated Hermes Inc. increased its position in OLO by 644,200.0% in the 2nd quarter. Federated Hermes Inc. now owns 6,443 shares of the company’s stock valued at $28,000 after acquiring an additional 6,442 shares during the period. Wallace Advisory Group LLC purchased a new position in shares of OLO in the 2nd quarter valued at approximately $57,000. SPC Financial Inc. purchased a new stake in shares of OLO during the third quarter worth approximately $65,000. Point72 DIFC Ltd raised its stake in shares of OLO by 52.7% during the second quarter. Point72 DIFC Ltd now owns 14,388 shares of the company’s stock worth $64,000 after purchasing an additional 4,964 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in OLO by 230.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 17,532 shares of the company’s stock valued at $77,000 after buying an additional 12,225 shares during the last quarter. 93.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on OLO shares. Piper Sandler restated an “overweight” rating and set a $8.00 price objective on shares of OLO in a research report on Thursday, August 1st. StockNews.com downgraded shares of OLO from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Lake Street Capital boosted their target price on OLO from $8.50 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st.

OLO Stock Performance

OLO stock opened at $7.25 on Tuesday. Olo Inc. has a one year low of $4.20 and a one year high of $7.47. The company has a market cap of $1.19 billion, a P/E ratio of -72.49 and a beta of 1.26. The business has a fifty day moving average of $5.37 and a two-hundred day moving average of $4.99.

Insider Activity at OLO

In other OLO news, insider Sherri Manning sold 9,356 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $45,844.40. Following the completion of the transaction, the insider now directly owns 148,414 shares of the company’s stock, valued at approximately $727,228.60. This trade represents a 5.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Peter J. Benevides sold 10,530 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $4.90, for a total value of $51,597.00. Following the sale, the chief financial officer now directly owns 414,403 shares in the company, valued at $2,030,574.70. This trade represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,148 shares of company stock worth $554,425 over the last 90 days. Company insiders own 39.33% of the company’s stock.

OLO Profile

Olo Inc operates an open SaaS platform for restaurants in the United States. The company’s platform enables on-demand digital commerce operations, which cover digital ordering, delivery, front-of-house management, and payments. Its solutions include Order, a suite of solutions powering restaurant brands’ on-demand commerce operations, enabling digital ordering, delivery, and channel management through ordering, dispatch, rails, switchboard, network, virtual brands, kiosk, catering, and sync modules; Engage, a suite of restaurant-centric marketing solutions optimizing guest lifetime value by strengthening and enhancing the restaurants’ direct guest relationships, through the guest data platform, marketing, sentiment, and host modules; and Pay, a frictionless payment platform that enables restaurants to grow and protect their digital business through customer payment experience that offers advanced fraud prevention to improve authorization rates for valid transactions, and increase basket conversion through its Olo Pay module.