The Manufacturers Life Insurance Company Has $1.88 Million Stock Position in Lightspeed Commerce Inc. (NYSE:LSPD)

The Manufacturers Life Insurance Company cut its stake in Lightspeed Commerce Inc. (NYSE:LSPD) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,799 shares of the company’s stock after selling 1,009 shares during the period. The Manufacturers Life Insurance Company’s holdings in Lightspeed Commerce were worth $1,878,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Toronto Dominion Bank boosted its holdings in shares of Lightspeed Commerce by 102.8% in the 2nd quarter. Toronto Dominion Bank now owns 6,870 shares of the company’s stock worth $94,000 after acquiring an additional 3,482 shares in the last quarter. Headlands Technologies LLC bought a new position in Lightspeed Commerce in the 2nd quarter valued at $181,000. Aigen Investment Management LP acquired a new position in Lightspeed Commerce in the third quarter worth $225,000. Algert Global LLC acquired a new position in Lightspeed Commerce in the third quarter worth $448,000. Finally, Addenda Capital Inc. grew its holdings in shares of Lightspeed Commerce by 10.5% during the second quarter. Addenda Capital Inc. now owns 44,041 shares of the company’s stock worth $603,000 after purchasing an additional 4,196 shares during the last quarter. Institutional investors own 68.68% of the company’s stock.

Wall Street Analyst Weigh In

LSPD has been the topic of a number of research analyst reports. Benchmark increased their price objective on shares of Lightspeed Commerce from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, November 8th. JPMorgan Chase & Co. raised their price target on shares of Lightspeed Commerce from $20.00 to $26.00 in a report on Friday, November 8th. Royal Bank of Canada raised Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a research note on Friday, November 8th. BMO Capital Markets boosted their target price on Lightspeed Commerce from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Finally, Jefferies Financial Group decreased their price target on Lightspeed Commerce from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.07.

Lightspeed Commerce Stock Performance

Shares of Lightspeed Commerce stock opened at $17.10 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.08 and a quick ratio of 5.94. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of -19.45 and a beta of 2.40. Lightspeed Commerce Inc. has a one year low of $11.01 and a one year high of $21.71. The stock’s 50-day moving average is $16.56 and its 200-day moving average is $14.67.

Lightspeed Commerce (NYSE:LSPD) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. Lightspeed Commerce had a negative net margin of 13.56% and a negative return on equity of 0.10%. The company had revenue of $277.18 million during the quarter, compared to analysts’ expectations of $273.90 million. Equities analysts predict that Lightspeed Commerce Inc. will post -0.02 earnings per share for the current fiscal year.

Lightspeed Commerce 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.