Rhumbline Advisers Has $1.19 Million Holdings in Olo Inc. (NYSE:OLO)

Rhumbline Advisers increased its stake in Olo Inc. (NYSE:OLO) by 5.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 154,282 shares of the company’s stock after acquiring an additional 7,995 shares during the quarter. Rhumbline Advisers’ holdings in OLO were worth $1,185,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Moloney Securities Asset Management LLC acquired a new stake in OLO in the fourth quarter worth $407,000. Tandem Financial LLC acquired a new position in shares of OLO during the fourth quarter valued at about $26,000. SG Americas Securities LLC boosted its position in shares of OLO by 19.1% during the 4th quarter. SG Americas Securities LLC now owns 49,771 shares of the company’s stock worth $382,000 after purchasing an additional 7,979 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of OLO by 220.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 558,507 shares of the company’s stock valued at $2,770,000 after buying an additional 384,196 shares during the period. Finally, Barclays PLC raised its stake in OLO by 399.3% during the 3rd quarter. Barclays PLC now owns 190,335 shares of the company’s stock worth $943,000 after buying an additional 152,214 shares during the period. Institutional investors own 93.40% of the company’s stock.

OLO Stock Up 2.4 %

Shares of OLO stock opened at $6.75 on Thursday. The company has a market cap of $1.10 billion, a PE ratio of -67.44 and a beta of 1.41. Olo Inc. has a 52 week low of $4.20 and a 52 week high of $8.35. The business has a 50 day moving average price of $7.34 and a 200-day moving average price of $6.36.

OLO (NYSE:OLO) last released its quarterly 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 company had revenue of $76.07 million during the quarter, compared to analysts’ expectations of $72.76 million. As a group, research analysts anticipate that Olo Inc. will post -0.03 EPS for the current year.

Wall Street Analyst Weigh In

OLO has been the topic of several recent research reports. Royal Bank of Canada increased their price target on OLO from $8.00 to $9.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Piper Sandler reiterated a “neutral” rating and issued a $8.00 target price on shares of OLO in a report on Wednesday, January 8th. Finally, StockNews.com lowered shares of OLO from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th.

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.