Intact Investment Management Inc. Lowers Stake in Lightspeed Commerce Inc. (NYSE:LSPD)

Intact Investment Management Inc. lessened its holdings in shares of Lightspeed Commerce Inc. (NYSE:LSPD - Free Report) by 48.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 873,927 shares of the company's stock after selling 833,330 shares during the period. Intact Investment Management Inc. owned approximately 0.57% of Lightspeed Commerce worth $7,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Lightspeed Commerce by 27.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,073 shares of the company's stock worth $158,000 after purchasing an additional 2,168 shares during the last quarter. Bayesian Capital Management LP purchased a new position in shares of Lightspeed Commerce during the fourth quarter worth $165,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Lightspeed Commerce during the fourth quarter worth $256,000. Twinbeech Capital LP purchased a new position in shares of Lightspeed Commerce during the fourth quarter worth $261,000. Finally, Scotia Capital Inc. raised its holdings in shares of Lightspeed Commerce by 12.0% during the fourth quarter. Scotia Capital Inc. now owns 19,225 shares of the company's stock worth $293,000 after purchasing an additional 2,053 shares during the last quarter. Hedge funds and other institutional investors own 68.68% of the company's stock.

Lightspeed Commerce Price Performance

Shares of LSPD stock traded down $0.32 on Friday, reaching $10.88. 990,940 shares of the company were exchanged, compared to its average volume of 921,830. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -2.48, a P/E/G ratio of 3.18 and a beta of 2.47. The business has a 50-day moving average price of $10.46 and a 200 day moving average price of $12.17. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.26 and a current ratio of 5.36. Lightspeed Commerce Inc. has a 1 year low of $7.34 and a 1 year high of $18.96.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last released its earnings results on Thursday, May 22nd. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.01). Lightspeed Commerce had a positive return on equity of 0.79% and a negative net margin of 61.96%. The company had revenue of $253.42 million for the quarter, compared to analysts' expectations of $252.51 million. During the same period in the prior year, the firm earned $0.06 EPS. The firm's revenue for the quarter was up 10.1% on a year-over-year basis. Equities research analysts forecast that Lightspeed Commerce Inc. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on LSPD shares. Wells Fargo & Company reduced their target price on shares of Lightspeed Commerce from $13.00 to $11.00 and set an "equal weight" rating for the company in a report on Friday, March 28th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $9.00 price objective (down previously from $10.00) on shares of Lightspeed Commerce in a report on Monday, April 14th. Royal Bank Of Canada cut their price objective on shares of Lightspeed Commerce from $20.00 to $15.00 and set an "outperform" rating for the company in a report on Tuesday, March 25th. Barclays cut their price objective on shares of Lightspeed Commerce from $13.00 to $12.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Finally, Benchmark cut their price objective on shares of Lightspeed Commerce from $21.00 to $16.00 and set a "buy" rating for the company in a report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Lightspeed Commerce currently has an average rating of "Hold" and a consensus target price of $14.04.

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.