OLO (NYSE:OLO) Upgraded at StockNews.com

StockNews.com upgraded shares of OLO (NYSE:OLO) from a hold rating to a buy rating in a research report report published on Monday.

OLO Stock Up 1.4 %

Shares of OLO stock opened at $7.34 on Monday. The stock has a market cap of $1.20 billion, a PE ratio of -73.39 and a beta of 1.46. The business has a fifty day simple moving average of $5.63 and a 200-day simple moving average of $5.09. OLO has a 12 month low of $4.20 and a 12 month high of $7.47.

Insider Buying and Selling

In related news, CRO Diego Panama sold 13,555 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $4.90, for a total transaction of $66,419.50. Following the completion of the sale, the executive now directly owns 569,859 shares in the company, valued at approximately $2,792,309.10. This trade represents a 2.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sherri Manning sold 9,356 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $45,844.40. Following the transaction, the insider now owns 148,414 shares in the company, valued at approximately $727,228.60. This trade represents a 5.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,148 shares of company stock worth $554,425. Corporate insiders own 39.33% of the company’s stock.

Hedge Funds Weigh In On OLO

Several institutional investors have recently bought and sold shares of OLO. Federated Hermes Inc. raised its holdings in OLO by 644,200.0% during 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 in the last quarter. Wallace Advisory Group LLC bought a new position in OLO during the second quarter valued at about $57,000. Point72 DIFC Ltd raised its holdings in OLO by 52.7% during the second quarter. Point72 DIFC Ltd now owns 14,388 shares of the company’s stock valued at $64,000 after buying an additional 4,964 shares in the last quarter. SPC Financial Inc. bought a new position in OLO during the third quarter valued at about $65,000. Finally, Point72 Asset Management L.P. bought a new position in OLO during the third quarter valued at about $74,000. 93.40% of the stock is currently owned by institutional investors.

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.