OLO Sees Unusually Large Options Volume (NYSE:OLO)

Olo Inc. (NYSE:OLO) was the recipient of unusually large options trading on Thursday. Stock traders bought 2,218 call options on the stock. This is an increase of 452% compared to the average daily volume of 402 call options.

Analysts Set New Price Targets

Several equities research analysts have weighed in on OLO shares. Wall Street Zen downgraded OLO from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Lake Street Capital upped their price objective on OLO from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, May 9th.

OLO Stock Performance

NYSE:OLO opened at $10.12 on Friday. The stock has a market cap of $1.68 billion, a P/E ratio of 506.25 and a beta of 1.57. OLO has a 1 year low of $4.20 and a 1 year high of $10.14. The stock has a 50-day simple moving average of $8.55 and a 200-day simple moving average of $7.45.

OLO (NYSE:OLO) last announced its earnings results on Thursday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $80.68 million during the quarter, compared to analysts’ expectations of $77.47 million. OLO had a return on equity of 1.46% and a net margin of 1.09%. The business’s revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS. On average, equities research analysts predict that OLO will post -0.03 EPS for the current year.

Insider Activity

In other OLO news, COO Joanna G. Lambert sold 38,614 shares of the company’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $8.80, for a total transaction of $339,803.20. Following the sale, the chief operating officer owned 925,146 shares in the company, valued at $8,141,284.80. This represents a 4.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Zuhairah Scott Washington sold 10,000 shares of the company’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $8.48, for a total value of $84,800.00. Following the sale, the director owned 68,677 shares in the company, valued at approximately $582,380.96. This trade represents a 12.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 98,630 shares of company stock worth $864,454 over the last three months. Company insiders own 39.33% of the company’s stock.

Institutional Trading of OLO

A number of large investors have recently made changes to their positions in OLO. Nuveen LLC acquired a new stake in shares of OLO in the 1st quarter valued at about $15,330,000. Broadwood Capital Inc. acquired a new stake in OLO during the 1st quarter worth approximately $10,765,000. Driehaus Capital Management LLC acquired a new stake in OLO during the 4th quarter worth approximately $9,691,000. Arrowstreet Capital Limited Partnership lifted its position in OLO by 138.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,895,935 shares of the company’s stock worth $14,561,000 after acquiring an additional 1,100,307 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in OLO by 274.6% during the 1st quarter. Bank of New York Mellon Corp now owns 1,351,488 shares of the company’s stock worth $8,163,000 after acquiring an additional 990,719 shares during the period. 93.40% of the stock is owned by institutional investors and hedge funds.

OLO Company Profile

Olo, Inc engages in the provision of a cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded by Noah H. Glass on June 1, 2005 and is headquartered in New York, NY.