Quadrature Capital Ltd Lowers Stock Holdings in Olo Inc. (NYSE:OLO)

Quadrature Capital Ltd reduced its stake in Olo Inc. (NYSE:OLO) by 56.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,585 shares of the company’s stock after selling 75,712 shares during the period. Quadrature Capital Ltd’s holdings in OLO were worth $286,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of OLO. Federated Hermes Inc. lifted its stake in OLO by 644,200.0% in the second quarter. Federated Hermes Inc. now owns 6,443 shares of the company’s stock worth $28,000 after acquiring an additional 6,442 shares during the period. Wallace Advisory Group LLC bought a new stake in shares of OLO in the 2nd quarter valued at about $57,000. Point72 DIFC Ltd lifted its position in shares of OLO by 52.7% in the 2nd quarter. Point72 DIFC Ltd now owns 14,388 shares of the company’s stock worth $64,000 after purchasing an additional 4,964 shares during the period. SPC Financial Inc. bought a new position in shares of OLO during the third quarter valued at approximately $65,000. Finally, Point72 Asset Management L.P. purchased a new position in OLO during the third quarter valued at approximately $74,000. 93.40% of the stock is owned by hedge funds and other institutional investors.

OLO Stock Performance

OLO stock opened at $7.62 on Wednesday. Olo Inc. has a one year low of $4.20 and a one year high of $7.76. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -76.20 and a beta of 1.46. The firm has a 50-day simple moving average of $5.89 and a two-hundred day simple moving average of $5.19.

Wall Street Analysts Forecast Growth

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

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.