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

Driehaus Capital Management LLC acquired a new stake in shares of Olo Inc. (NYSE:OLO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,261,888 shares of the company’s stock, valued at approximately $9,691,000. Driehaus Capital Management LLC owned 0.77% of OLO at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in shares of OLO by 399.3% during the third quarter. Barclays PLC now owns 190,335 shares of the company’s stock valued at $943,000 after acquiring an additional 152,214 shares during the period. Raymond James Financial Inc. acquired a new position in OLO during the 4th quarter valued at about $2,346,000. Norges Bank bought a new position in OLO in the 4th quarter worth about $5,181,000. Moloney Securities Asset Management LLC acquired a new stake in shares of OLO in the fourth quarter valued at approximately $407,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of OLO by 220.4% during the third quarter. JPMorgan Chase & Co. now owns 558,507 shares of the company’s stock valued at $2,770,000 after buying an additional 384,196 shares during the last quarter. 93.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OLO has been the topic of several analyst reports. StockNews.com cut OLO from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Lake Street Capital lifted their price objective on shares of OLO from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday.

OLO Price Performance

Shares of NYSE:OLO opened at $8.65 on Friday. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -86.49 and a beta of 1.41. Olo Inc. has a 12 month low of $4.20 and a 12 month high of $8.83. The stock’s 50 day moving average price is $6.39 and its 200 day moving average price is $6.80.

OLO (NYSE:OLO) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. The business had revenue of $80.68 million during the quarter, compared to analyst estimates of $77.47 million. OLO had a positive return on equity of 0.34% and a negative net margin of 5.89%. The company’s revenue was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 earnings per share. On average, sell-side analysts expect that Olo Inc. will post -0.03 EPS for the current year.

About OLO

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.