Mackenzie Financial Corp Cuts Stake in Lightspeed Commerce Inc. (NYSE:LSPD)

Mackenzie Financial Corp lowered its stake in shares of Lightspeed Commerce Inc. (NYSE:LSPD) by 18.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 180,845 shares of the company’s stock after selling 41,712 shares during the period. Mackenzie Financial Corp owned about 0.12% of Lightspeed Commerce worth $3,799,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Raymond James & Associates grew its stake in Lightspeed Commerce by 19.8% during the 1st quarter. Raymond James & Associates now owns 74,890 shares of the company’s stock valued at $2,282,000 after acquiring an additional 12,368 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Lightspeed Commerce by 16.3% during the 1st quarter. Bank of New York Mellon Corp now owns 149,006 shares of the company’s stock valued at $4,539,000 after acquiring an additional 20,838 shares in the last quarter. Citigroup Inc. grew its stake in Lightspeed Commerce by 9.2% during the 1st quarter. Citigroup Inc. now owns 19,479 shares of the company’s stock valued at $594,000 after acquiring an additional 1,636 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Lightspeed Commerce by 112.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,299 shares of the company’s stock valued at $40,000 after acquiring an additional 688 shares in the last quarter. Finally, Natixis Advisors L.P. purchased a new stake in Lightspeed Commerce during the 1st quarter valued at about $308,000. Hedge funds and other institutional investors own 68.68% of the company’s stock.

Lightspeed Commerce Price Performance

Lightspeed Commerce stock opened at $12.93 on Monday. The firm has a market cap of $1.98 billion, a PE ratio of -9.58 and a beta of 2.37. Lightspeed Commerce Inc. has a 52-week low of $12.23 and a 52-week high of $21.71. The company has a quick ratio of 6.09, a current ratio of 6.21 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average is $13.67 and its two-hundred day moving average is $15.73.

Lightspeed Commerce (NYSE:LSPD) last released its earnings results on Thursday, February 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $239.70 million for the quarter, compared to analyst estimates of $236.31 million. On average, research analysts expect that Lightspeed Commerce Inc. will post -0.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Truist Financial upped their price objective on shares of Lightspeed Commerce from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, January 12th. National Bank Financial lowered shares of Lightspeed Commerce from an “outperform market weight” rating to a “sector perform market weight” rating in a report on Thursday, February 8th. Piper Sandler reiterated a “neutral” rating and issued a $18.00 target price on shares of Lightspeed Commerce in a report on Thursday, February 15th. TD Securities lowered shares of Lightspeed Commerce from a “buy” rating to a “hold” rating and decreased their target price for the company from $25.00 to $17.50 in a report on Friday, February 9th. Finally, National Bankshares decreased their target price on shares of Lightspeed Commerce from $20.00 to $15.00 and set a “sector perform” rating on the stock in a report on Thursday. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock 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.