Lathrop Investment Management Corp Sells 56,604 Shares of Olo Inc. (NYSE:OLO)

Lathrop Investment Management Corp trimmed its position in shares of Olo Inc. (NYSE:OLO) by 13.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 377,496 shares of the company’s stock after selling 56,604 shares during the quarter. Lathrop Investment Management Corp owned about 0.23% of OLO worth $1,872,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Federated Hermes Inc. lifted its position in OLO by 644,200.0% during the second 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 last quarter. Wallace Advisory Group LLC purchased a new stake in shares of OLO during the 2nd quarter valued at $57,000. Point72 DIFC Ltd boosted its position in shares of OLO by 52.7% in the 2nd quarter. Point72 DIFC Ltd now owns 14,388 shares of the company’s stock worth $64,000 after purchasing an additional 4,964 shares in the last quarter. SPC Financial Inc. purchased a new position in OLO during the 3rd quarter worth $65,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in OLO by 230.4% in the second 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 currently owned by institutional investors.

OLO Price Performance

Shares of NYSE OLO opened at $7.00 on Friday. The firm’s 50 day simple moving average is $5.28 and its 200-day simple moving average is $4.95. Olo Inc. has a 12 month low of $4.20 and a 12 month high of $7.13. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -69.99 and a beta of 1.26.

Analysts Set New Price Targets

Several research firms have recently issued reports on OLO. StockNews.com upgraded shares of OLO from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Piper Sandler reiterated an “overweight” rating and issued a $8.00 price target on shares of OLO in a report on Thursday, August 1st. Finally, Lake Street Capital upped their price objective on shares of OLO from $8.50 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 1st.

Insider Activity at OLO

In other news, CRO Diego Panama sold 13,555 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $66,419.50. Following the transaction, the executive now directly owns 569,859 shares of the company’s stock, valued at approximately $2,792,309.10. This trade represents a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Sherri Manning sold 9,356 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total transaction of $45,844.40. Following the sale, the insider now directly owns 148,414 shares of the company’s stock, valued at approximately $727,228.60. This represents a 5.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,148 shares of company stock valued at $554,425. 39.33% of the stock is owned by company insiders.

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.