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

MQS Management LLC reduced its stake in shares of Olo Inc. (NYSE:OLO) by 27.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,599 shares of the company’s stock after selling 6,158 shares during the period. MQS Management LLC’s holdings in OLO were worth $91,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Diversified Trust Co lifted its position in shares of OLO by 8.8% in the 1st quarter. Diversified Trust Co now owns 28,207 shares of the company’s stock worth $155,000 after buying an additional 2,285 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of OLO by 29.7% in the 4th quarter. Victory Capital Management Inc. now owns 14,056 shares of the company’s stock worth $80,000 after buying an additional 3,219 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of OLO by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,636 shares of the company’s stock worth $218,000 after buying an additional 3,340 shares during the last quarter. Portside Wealth Group LLC lifted its position in shares of OLO by 9.2% in the 4th quarter. Portside Wealth Group LLC now owns 41,014 shares of the company’s stock worth $235,000 after buying an additional 3,467 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of OLO by 18.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,178 shares of the company’s stock worth $150,000 after buying an additional 3,991 shares during the last quarter. 93.40% of the stock is owned by institutional investors and hedge funds.

OLO Stock Performance

Shares of OLO stock traded up $0.09 during trading hours on Thursday, reaching $4.80. The company’s stock had a trading volume of 1,318,551 shares, compared to its average volume of 961,552. The company’s 50 day simple moving average is $4.53 and its 200 day simple moving average is $5.02. Olo Inc. has a one year low of $4.20 and a one year high of $8.84. The stock has a market cap of $770.48 million, a P/E ratio of -16.55 and a beta of 1.26.

OLO (NYSE:OLO) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. The company had revenue of $66.51 million for the quarter, compared to the consensus estimate of $64.22 million. OLO had a negative net margin of 19.35% and a negative return on equity of 1.56%. The company’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same period last year, the firm posted ($0.06) EPS. On average, sell-side analysts predict that Olo Inc. will post -0.08 earnings per share for the current fiscal year.

Insider Activity at OLO

In related news, COO Joanna G. Lambert sold 6,290 shares of OLO stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $4.51, for a total value of $28,367.90. Following the sale, the chief operating officer now directly owns 659,049 shares in the company, valued at approximately $2,972,310.99. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other OLO news, CEO Noah H. Glass sold 10,155 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $4.52, for a total transaction of $45,900.60. Following the transaction, the chief executive officer now owns 322,816 shares of the company’s stock, valued at approximately $1,459,128.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Joanna G. Lambert sold 6,290 shares of OLO stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $4.51, for a total transaction of $28,367.90. Following the completion of the transaction, the chief operating officer now directly owns 659,049 shares in the company, valued at approximately $2,972,310.99. The disclosure for this sale can be found here. Insiders have sold a total of 78,686 shares of company stock worth $362,798 in the last ninety days. 39.33% of the stock is owned by insiders.

About OLO

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.