Verition Fund Management LLC Makes New Investment in Lightspeed Commerce Inc. (NYSE:LSPD)

Verition Fund Management LLC acquired a new stake in shares of Lightspeed Commerce Inc. (NYSE:LSPD) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 30,237 shares of the company’s stock, valued at approximately $499,000.

Several other hedge funds have also recently modified their holdings of LSPD. Westfield Capital Management Co. LP boosted its holdings in shares of Lightspeed Commerce by 30.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,325,531 shares of the company’s stock worth $54,838,000 after purchasing an additional 766,688 shares during the period. Dimensional Fund Advisors LP boosted its stake in Lightspeed Commerce by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,205,168 shares of the company’s stock worth $30,189,000 after buying an additional 64,944 shares during the period. Bank of Montreal Can increased its position in Lightspeed Commerce by 4.9% during the second quarter. Bank of Montreal Can now owns 2,059,914 shares of the company’s stock valued at $28,281,000 after acquiring an additional 95,832 shares during the last quarter. Intact Investment Management Inc. raised its stake in shares of Lightspeed Commerce by 10,117.5% in the third quarter. Intact Investment Management Inc. now owns 877,680 shares of the company’s stock valued at $14,473,000 after acquiring an additional 869,090 shares during the period. Finally, Marshall Wace LLP raised its position in Lightspeed Commerce by 306.5% in the 2nd quarter. Marshall Wace LLP now owns 807,219 shares of the company’s stock worth $11,051,000 after purchasing an additional 608,661 shares during the period. Hedge funds and other institutional investors own 68.68% of the company’s stock.

Lightspeed Commerce Stock Down 0.9 %

Shares of NYSE LSPD opened at $16.65 on Thursday. Lightspeed Commerce Inc. has a 12-month low of $11.01 and a 12-month high of $21.71. The stock’s fifty day simple moving average is $16.58 and its two-hundred day simple moving average is $14.70. The stock has a market capitalization of $2.53 billion, a PE ratio of -18.88 and a beta of 2.40. The company has a current ratio of 6.08, a quick ratio of 5.94 and a debt-to-equity ratio of 0.01.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on LSPD shares. Benchmark upped their target price on Lightspeed Commerce from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, November 8th. BMO Capital Markets upped their price objective on Lightspeed Commerce from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Royal Bank of Canada upgraded Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. upped their price target on shares of Lightspeed Commerce from $20.00 to $26.00 in a report on Friday, November 8th. Finally, Jefferies Financial Group reduced their price target on shares of Lightspeed Commerce from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.07.

About Lightspeed Commerce

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.