Olo Inc. (NYSE:OLO) Shares Sold by Lathrop Investment Management Corp

Lathrop Investment Management Corp lessened its holdings in Olo Inc. (NYSE:OLO) by 13.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 377,496 shares of the company’s stock after selling 56,604 shares during the period. Lathrop Investment Management Corp’s holdings in OLO were worth $1,872,000 at the end of the most recent quarter.

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

Insider Transactions at OLO

In related news, insider Sherri Manning sold 9,356 shares of the company’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 $45,844.40. Following the completion of the transaction, the insider now directly owns 148,414 shares of the company’s stock, valued at $727,228.60. This represents a 5.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Noah H. Glass sold 10,423 shares of the firm’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 transaction of $51,072.70. Following the sale, the chief executive officer now directly owns 312,393 shares in the company, valued at approximately $1,530,725.70. The trade was a 3.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,148 shares of company stock valued at $554,425. 39.33% of the stock is currently owned by corporate insiders.

OLO Price Performance

OLO opened at $7.00 on Friday. The business has a fifty day moving average price of $5.28 and a 200 day moving average price of $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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in 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 boosted their price target on shares of OLO from $8.50 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Piper Sandler restated an “overweight” rating and issued a $8.00 price objective on shares of OLO in a report on Thursday, August 1st.

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.