Hillsdale Investment Management Inc. Decreases Holdings in Lightspeed Commerce Inc. (NYSE:LSPD)

Hillsdale Investment Management Inc. cut its holdings in shares of Lightspeed Commerce Inc. (NYSE:LSPD) by 3.4% during the 4th quarter, HoldingsChannel reports. The fund owned 521,265 shares of the company’s stock after selling 18,325 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Lightspeed Commerce were worth $7,940,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Intact Investment Management Inc. raised its stake in shares of Lightspeed Commerce by 94.5% during the fourth quarter. Intact Investment Management Inc. now owns 1,707,257 shares of the company’s stock worth $26,031,000 after acquiring an additional 829,577 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Lightspeed Commerce by 266.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,356,600 shares of the company’s stock worth $20,660,000 after acquiring an additional 986,100 shares in the last quarter. AGF Management Ltd. purchased a new position in shares of Lightspeed Commerce during the fourth quarter worth approximately $1,295,000. Amundi raised its stake in shares of Lightspeed Commerce by 20.5% during the fourth quarter. Amundi now owns 22,538 shares of the company’s stock worth $347,000 after acquiring an additional 3,838 shares in the last quarter. Finally, PCJ Investment Counsel Ltd. raised its stake in shares of Lightspeed Commerce by 33.8% during the fourth quarter. PCJ Investment Counsel Ltd. now owns 123,060 shares of the company’s stock worth $1,874,000 after acquiring an additional 31,060 shares in the last quarter. 68.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LSPD has been the topic of several analyst reports. Piper Sandler decreased their target price on shares of Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. Wells Fargo & Company decreased their target price on shares of 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. UBS Group decreased their target price on shares of Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Bank of America initiated coverage on shares of Lightspeed Commerce in a research note on Wednesday, February 19th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, Scotiabank decreased their target price on shares of 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 equities 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.39.

Lightspeed Commerce Stock Up 0.4 %

NYSE:LSPD opened at $10.63 on Friday. The firm’s 50-day moving average price is $13.02 and its 200-day moving average price is $14.80. The company has a market capitalization of $1.63 billion, a PE ratio of -13.28, a P/E/G ratio of 3.03 and a beta of 2.44. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.10 and a quick ratio of 5.99. Lightspeed Commerce Inc. has a 1-year low of $10.20 and a 1-year high of $18.96.

Lightspeed Commerce (NYSE:LSPD) last released its earnings results on Thursday, February 6th. The company reported $0.03 earnings per share 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%. On average, equities analysts predict that Lightspeed Commerce Inc. will post 0.08 EPS 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.