Olo Inc. (NYSE:OLO) Shares Acquired by Summit Global Investments

Summit Global Investments grew its stake in Olo Inc. (NYSE:OLO) by 21.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 129,900 shares of the company’s stock after acquiring an additional 22,600 shares during the period. Summit Global Investments owned about 0.08% of OLO worth $743,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in OLO. Vanguard Group Inc. raised its position in OLO by 4.4% in the third quarter. Vanguard Group Inc. now owns 11,849,783 shares of the company’s stock valued at $71,810,000 after purchasing an additional 495,247 shares during the period. Bank of New York Mellon Corp lifted its stake in OLO by 9.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,729,180 shares of the company’s stock worth $10,479,000 after acquiring an additional 144,759 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in OLO by 190.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 821,404 shares of the company’s stock worth $4,978,000 after acquiring an additional 538,231 shares in the last quarter. Advantage Alpha Capital Partners LP boosted its holdings in OLO by 83.5% during the 3rd quarter. Advantage Alpha Capital Partners LP now owns 662,108 shares of the company’s stock valued at $4,012,000 after acquiring an additional 301,302 shares during the period. Finally, Panagora Asset Management Inc. grew its position in OLO by 94.6% in the 3rd quarter. Panagora Asset Management Inc. now owns 577,563 shares of the company’s stock valued at $3,500,000 after acquiring an additional 280,811 shares in the last quarter. 93.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Piper Sandler increased their price target on shares of OLO from $7.00 to $8.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, OLO presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.10.

OLO Stock Performance

Shares of NYSE OLO opened at $4.79 on Friday. Olo Inc. has a 1-year low of $4.25 and a 1-year high of $8.84. The stock’s 50-day moving average is $5.27 and its two-hundred day moving average is $5.36.

OLO (NYSE:OLO) last issued its earnings results on Wednesday, February 21st. The company reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05. OLO had a negative net margin of 25.53% and a negative return on equity of 2.96%. The firm had revenue of $63.00 million during the quarter, compared to the consensus estimate of $58.91 million. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. The company’s revenue was up 26.5% compared to the same quarter last year. Sell-side analysts expect that Olo Inc. will post -0.1 EPS for the current fiscal year.

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.