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

Renaissance Technologies LLC raised its holdings in shares of Olo Inc. (NYSE:OLO) by 11.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,660,700 shares of the company’s stock after acquiring an additional 174,200 shares during the quarter. Renaissance Technologies LLC’s holdings in OLO were worth $12,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Arizona State Retirement System raised its stake in shares of OLO by 5.1% during the 4th quarter. Arizona State Retirement System now owns 30,358 shares of the company’s stock valued at $233,000 after purchasing an additional 1,464 shares during the period. Invesco Ltd. grew its holdings in OLO by 1.9% during the 4th quarter. Invesco Ltd. now owns 121,611 shares of the company’s stock valued at $934,000 after buying an additional 2,261 shares in the last quarter. Tandem Financial LLC bought a new stake in shares of OLO during the fourth quarter valued at about $26,000. Global Retirement Partners LLC purchased a new stake in shares of OLO in the fourth quarter worth about $27,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of OLO in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 93.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on OLO. StockNews.com cut shares of OLO from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Piper Sandler reissued a “neutral” rating and set a $8.00 price objective on shares of OLO in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada upped their target price on OLO from $8.00 to $9.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd.

OLO Price Performance

OLO stock opened at $6.11 on Wednesday. The firm has a 50 day simple moving average of $6.49 and a two-hundred day simple moving average of $6.58. The stock has a market cap of $1.01 billion, a PE ratio of -61.11 and a beta of 1.42. Olo Inc. has a one year low of $4.20 and a one year high of $8.35.

OLO (NYSE:OLO) last released its 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 negative net margin of 5.89% and a positive return on equity of 0.34%. The firm had revenue of $76.07 million during the quarter, compared to the consensus estimate of $72.76 million. On average, research analysts expect 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.