Intact Investment Management Inc. Cuts Position in Lightspeed Commerce Inc. (NYSE:LSPD)

Intact Investment Management Inc. decreased its holdings in Lightspeed Commerce Inc. (NYSE:LSPD) by 30.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 120,900 shares of the company’s stock after selling 52,300 shares during the period. Intact Investment Management Inc. owned approximately 0.08% of Lightspeed Commerce worth $2,538,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. New York State Common Retirement Fund raised its stake in shares of Lightspeed Commerce by 13.9% during the third quarter. New York State Common Retirement Fund now owns 20,350 shares of the company’s stock valued at $286,000 after purchasing an additional 2,482 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Lightspeed Commerce by 15.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,372 shares of the company’s stock worth $400,000 after buying an additional 3,731 shares in the last quarter. Public Sector Pension Investment Board grew its position in shares of Lightspeed Commerce by 1.5% during the third quarter. Public Sector Pension Investment Board now owns 295,780 shares of the company’s stock worth $4,174,000 after buying an additional 4,229 shares in the last quarter. FMR LLC grew its position in shares of Lightspeed Commerce by 0.6% during the third quarter. FMR LLC now owns 1,079,798 shares of the company’s stock worth $15,151,000 after buying an additional 6,518 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in shares of Lightspeed Commerce by 4.9% during the third quarter. CIBC Asset Management Inc now owns 146,430 shares of the company’s stock worth $2,063,000 after buying an additional 6,886 shares in the last quarter. Hedge funds and other institutional investors own 68.68% of the company’s stock.

Lightspeed Commerce Stock Performance

Shares of NYSE LSPD traded up $0.18 during midday trading on Friday, reaching $13.40. 480,666 shares of the company traded hands, compared to its average volume of 837,068. Lightspeed Commerce Inc. has a 52 week low of $12.23 and a 52 week high of $21.71. The stock has a 50-day moving average price of $13.61 and a 200 day moving average price of $15.69. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.21 and a quick ratio of 6.09. The company has a market cap of $2.05 billion, a price-to-earnings ratio of -9.93 and a beta of 2.37.

Lightspeed Commerce (NYSE:LSPD) last issued its quarterly earnings results on Thursday, February 8th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.12. Lightspeed Commerce had a negative net margin of 23.85% and a negative return on equity of 2.68%. The firm had revenue of $239.70 million for the quarter, compared to analysts’ expectations of $236.31 million. Sell-side analysts anticipate that Lightspeed Commerce Inc. will post -0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LSPD. TD Securities downgraded shares of Lightspeed Commerce from a “buy” rating to a “hold” rating and decreased their price target for the stock from $25.00 to $17.50 in a research report on Friday, February 9th. Truist Financial lifted their price objective on shares of Lightspeed Commerce from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, January 12th. Wells Fargo & Company decreased their price objective on shares of Lightspeed Commerce from $20.00 to $17.00 and set an “equal weight” rating for the company in a report on Friday, February 9th. BMO Capital Markets decreased their price objective on shares of Lightspeed Commerce from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, February 9th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $18.00 price objective on shares of Lightspeed Commerce in a report on Thursday, February 15th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Lightspeed Commerce currently has an average rating of “Hold” and an average price target of $18.74.

Lightspeed Commerce Company Profile

Lightspeed Commerce Inc engages in sale of cloud-based software subscriptions and payments solutions for small and midsize businesses, retailers, restaurants, and golf course operators in North America, Europe, the United Kingdom, Australia, New Zealand, and internationally. Its Software as a Service platform enables customers to engage with consumers, manage operations, accept payments, etc.