Zacks Investment Management Increases Stock Position in Olo Inc. (NYSE:OLO)

Zacks Investment Management grew its stake in shares of Olo Inc. (NYSE:OLO) by 26.7% during the third quarter, HoldingsChannel.com reports. The fund owned 82,699 shares of the company’s stock after buying an additional 17,447 shares during the quarter. Zacks Investment Management’s holdings in OLO were worth $410,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in OLO. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of OLO by 52.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,410,528 shares of the company’s stock valued at $6,996,000 after acquiring an additional 487,919 shares during the last quarter. Essex Investment Management Co. LLC purchased a new stake in shares of OLO during the 3rd quarter valued at about $2,236,000. Algert Global LLC boosted its holdings in shares of OLO by 114.0% during the 2nd quarter. Algert Global LLC now owns 710,319 shares of the company’s stock valued at $3,140,000 after acquiring an additional 378,368 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of OLO by 154.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 567,864 shares of the company’s stock valued at $2,510,000 after acquiring an additional 344,676 shares during the last quarter. Finally, Landscape Capital Management L.L.C. bought a new position in shares of OLO in the 3rd quarter worth approximately $1,600,000. Hedge funds and other institutional investors own 93.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of OLO from a “buy” rating to a “hold” rating in a research note on Tuesday.

OLO Stock Up 2.0 %

Shares of NYSE:OLO opened at $7.62 on Wednesday. The firm’s 50 day moving average price is $5.89 and its 200-day moving average price is $5.19. Olo Inc. has a twelve month low of $4.20 and a twelve month high of $7.76. The stock has a market capitalization of $1.25 billion, a PE ratio of -76.20 and a beta of 1.46.

OLO 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.