Intact Investment Management Inc. Buys 829,577 Shares of Lightspeed Commerce Inc. (NYSE:LSPD)

Intact Investment Management Inc. increased its stake in Lightspeed Commerce Inc. (NYSE:LSPD) by 94.5% during the fourth quarter, Holdings Channel reports. The firm owned 1,707,257 shares of the company’s stock after acquiring an additional 829,577 shares during the period. Lightspeed Commerce makes up approximately 0.9% of Intact Investment Management Inc.’s investment portfolio, making the stock its 28th biggest position. Intact Investment Management Inc.’s holdings in Lightspeed Commerce were worth $26,031,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. increased its position in shares of Lightspeed Commerce by 214.4% in the fourth quarter. Blue Trust Inc. now owns 1,503 shares of the company’s stock worth $25,000 after purchasing an additional 1,025 shares during the period. Aigen Investment Management LP acquired a new stake in Lightspeed Commerce in the third quarter valued at about $225,000. Toronto Dominion Bank boosted its stake in Lightspeed Commerce by 153.4% in the third quarter. Toronto Dominion Bank now owns 17,408 shares of the company’s stock valued at $287,000 after buying an additional 10,538 shares in the last quarter. Amundi boosted its stake in Lightspeed Commerce by 20.5% in the fourth quarter. Amundi now owns 22,538 shares of the company’s stock valued at $347,000 after buying an additional 3,838 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Lightspeed Commerce by 5.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 24,296 shares of the company’s stock valued at $370,000 after buying an additional 1,276 shares in the last quarter. Institutional investors own 68.68% of the company’s stock.

Lightspeed Commerce Price Performance

Lightspeed Commerce stock opened at $10.26 on Friday. The stock’s 50 day moving average is $13.61 and its 200 day moving average is $14.90. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.10 and a quick ratio of 5.99. The firm has a market cap of $1.57 billion, a P/E ratio of -12.82, a P/E/G ratio of 3.03 and a beta of 2.44. Lightspeed Commerce Inc. has a one year low of $10.20 and a one year high of $18.96.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07). Lightspeed Commerce had a positive return on equity of 0.61% and a negative net margin of 11.75%. As a group, research analysts expect that Lightspeed Commerce Inc. will post 0.08 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on LSPD shares. UBS Group reduced their price objective on Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Wells Fargo & Company reduced their price objective on Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Bank of America started coverage on Lightspeed Commerce in a research note on Wednesday, February 19th. They issued a “buy” rating and a $20.00 price objective on the stock. Piper Sandler reduced their price objective on Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. Finally, Scotiabank cut their price target on Lightspeed Commerce from $21.00 to $19.00 and set a “sector outperform” rating on the stock in a research note on Friday, February 7th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Lightspeed Commerce has an average rating of “Moderate Buy” and an average target price of $18.39.

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.