Driehaus Capital Management LLC Invests $9.69 Million in Olo Inc. (NYSE:OLO)

Driehaus Capital Management LLC bought a new stake in shares of Olo Inc. (NYSE:OLO) in the 4th quarter, HoldingsChannel.com reports. The firm bought 1,261,888 shares of the company’s stock, valued at approximately $9,691,000.

A number of other hedge funds and other institutional investors have also modified their holdings of OLO. Arrowstreet Capital Limited Partnership lifted its stake in OLO by 138.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,895,935 shares of the company’s stock valued at $14,561,000 after buying an additional 1,100,307 shares in the last quarter. Norges Bank acquired a new stake in shares of OLO during the fourth quarter valued at approximately $5,181,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of OLO by 44.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,032,634 shares of the company’s stock valued at $15,611,000 after acquiring an additional 622,106 shares in the last quarter. Federated Hermes Inc. boosted its stake in OLO by 6,935.0% in the 4th quarter. Federated Hermes Inc. now owns 556,470 shares of the company’s stock worth $4,274,000 after purchasing an additional 548,560 shares during the period. Finally, Alliancebernstein L.P. grew its position in OLO by 544.8% during the 4th quarter. Alliancebernstein L.P. now owns 558,290 shares of the company’s stock worth $4,288,000 after purchasing an additional 471,700 shares in the last quarter. Institutional investors and hedge funds own 93.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on OLO shares. StockNews.com lowered OLO from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Lake Street Capital increased their price objective on OLO from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday.

OLO Stock Performance

OLO stock opened at $8.65 on Friday. Olo Inc. has a twelve month low of $4.20 and a twelve month high of $8.83. The firm has a market cap of $1.44 billion, a PE ratio of -86.49 and a beta of 1.41. The firm’s 50 day moving average price is $6.39 and its two-hundred day moving average price is $6.80.

OLO (NYSE:OLO) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. OLO had a negative net margin of 5.89% and a positive return on equity of 0.34%. The business had revenue of $80.68 million for the quarter, compared to the consensus estimate of $77.47 million. During the same period in the prior year, the business posted $0.05 earnings per share. OLO’s revenue for the quarter was up 21.3% compared to the same quarter last year. Equities analysts anticipate that Olo Inc. will post -0.03 EPS for the current fiscal year.

OLO Profile

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.