Mackenzie Financial Corp Sells 210,483 Shares of Lightspeed Commerce Inc. (NYSE:LSPD)

Key Points

• Mackenzie Financial Corp reduced its stake in Lightspeed Commerce by 58.4%, holding $1.31 million worth of the stock after selling over 210,000 shares in the 1st quarter.
• Institutional investors collectively own 68.68% of Lightspeed Commerce, with notable increases in holdings by Scotia Capital, Geode Capital Management, and Toronto Dominion Bank during the 4th quarter.
• Lightspeed Commerce reported earnings that missed analysts' expectations, with an EPS of $0.06 against a consensus of $0.11, and a revenue of $304.94 million, which exceeded expectations.

Mackenzie Financial Corp trimmed its position in Lightspeed Commerce Inc. (NYSE:LSPD - Free Report) by 58.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 149,738 shares of the company's stock after selling 210,483 shares during the quarter. Mackenzie Financial Corp owned approximately 0.10% of Lightspeed Commerce worth $1,310,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Bayesian Capital Management LP bought a new stake in shares of Lightspeed Commerce during the 4th quarter worth about $165,000. Tempus Wealth Planning LLC bought a new stake in shares of Lightspeed Commerce during the first quarter worth approximately $119,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Lightspeed Commerce in the fourth quarter valued at approximately $256,000. Twinbeech Capital LP bought a new position in shares of Lightspeed Commerce during the fourth quarter worth approximately $261,000. Finally, Scotia Capital Inc. increased its stake 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 period. 68.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Morgan Stanley lowered their price objective on Lightspeed Commerce from $14.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Barclays raised their price target on shares of Lightspeed Commerce from $12.00 to $15.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Scotiabank boosted their price objective on shares of Lightspeed Commerce from $10.00 to $12.00 and gave the company a "sector perform" rating in a report on Monday, July 28th. JPMorgan Chase & Co. reissued an "underweight" rating and set a $9.00 price target (down previously from $10.00) on shares of Lightspeed Commerce in a research report on Monday, April 14th. Finally, Benchmark lifted their price objective on Lightspeed Commerce from $16.00 to $18.00 and gave the company a "buy" rating in a report on Friday, August 1st. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Lightspeed Commerce presently has a consensus rating of "Hold" and a consensus price target of $14.74.

Lightspeed Commerce Trading Down 0.9%

Shares of LSPD stock traded down $0.12 on Friday, hitting $12.22. The company had a trading volume of 336,247 shares, compared to its average volume of 934,638. Lightspeed Commerce Inc. has a twelve month low of $7.34 and a twelve month high of $18.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.50 and a current ratio of 4.60. The firm has a market cap of $1.68 billion, a P/E ratio of -2.71, a P/E/G ratio of 8.49 and a beta of 2.48. The stock's 50-day moving average is $11.93 and its two-hundred day moving average is $11.40.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.05). The company had revenue of $304.94 million during the quarter, compared to the consensus estimate of $287.28 million. Lightspeed Commerce had a negative net margin of 61.11% and a positive return on equity of 0.33%. The business's revenue was up 14.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 earnings per share. On average, equities research analysts anticipate that Lightspeed Commerce Inc. will post 0.08 earnings per share for the current fiscal year.

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.