Olo Inc. (NYSE:OLO) Shares Bought by MQS Management LLC

MQS Management LLC raised its holdings in Olo Inc. (NYSE:OLO) by 15.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,363 shares of the company’s stock after purchasing an additional 3,898 shares during the period. MQS Management LLC’s holdings in OLO were worth $141,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Aigen Investment Management LP acquired a new stake in shares of OLO in the third quarter worth approximately $132,000. Rice Hall James & Associates LLC boosted its stake in shares of OLO by 56.2% in the third quarter. Rice Hall James & Associates LLC now owns 549,550 shares of the company’s stock worth $2,726,000 after acquiring an additional 197,810 shares during the last quarter. SPC Financial Inc. acquired a new stake in shares of OLO in the third quarter worth approximately $65,000. Creative Planning boosted its stake in shares of OLO by 15.1% in the third quarter. Creative Planning now owns 30,371 shares of the company’s stock worth $151,000 after acquiring an additional 3,974 shares during the last quarter. Finally, Essex Investment Management Co. LLC acquired a new stake in shares of OLO in the third quarter worth approximately $2,236,000. 93.40% of the stock is owned by institutional investors and hedge funds.

OLO Stock Performance

Shares of OLO stock opened at $6.42 on Friday. Olo Inc. has a one year low of $4.20 and a one year high of $7.13. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -64.19 and a beta of 1.26. The business’s 50 day moving average price is $5.13 and its 200 day moving average price is $4.90.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OLO. StockNews.com raised OLO from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Lake Street Capital lifted their price objective on OLO from $8.50 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Piper Sandler reiterated an “overweight” rating and set a $8.00 price objective on shares of OLO in a research report on Thursday, August 1st.

Insider Buying and Selling at OLO

In other OLO news, CRO Diego Panama sold 13,555 shares of OLO stock in a transaction on Friday, September 6th. The stock was sold at an average price of $4.90, for a total value of $66,419.50. Following the sale, the executive now owns 569,859 shares in the company, valued at $2,792,309.10. The trade was a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sherri Manning sold 9,356 shares of OLO stock in a transaction on 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 sale, the insider now owns 148,414 shares in the company, valued at $727,228.60. This represents a 5.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,148 shares of company stock worth $554,425 over the last quarter. 39.33% of the stock is currently owned by company insiders.

OLO Company 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.