The Manufacturers Life Insurance Company Boosts Stock Holdings in Lightspeed Commerce Inc. (NYSE:LSPD)

The Manufacturers Life Insurance Company grew its stake in Lightspeed Commerce Inc. (NYSE:LSPD) by 2.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 114,808 shares of the company’s stock after purchasing an additional 2,459 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.07% of Lightspeed Commerce worth $1,567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Lightspeed Commerce in the first quarter valued at approximately $35,000. Toronto Dominion Bank grew its position in shares of Lightspeed Commerce by 102.8% in the second quarter. Toronto Dominion Bank now owns 6,870 shares of the company’s stock valued at $94,000 after purchasing an additional 3,482 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Lightspeed Commerce in the second quarter valued at approximately $181,000. Duality Advisers LP grew its position in shares of Lightspeed Commerce by 160.8% in the first quarter. Duality Advisers LP now owns 34,337 shares of the company’s stock valued at $483,000 after purchasing an additional 21,172 shares in the last quarter. Finally, Addenda Capital Inc. grew its position in shares of Lightspeed Commerce by 5.3% in the first quarter. Addenda Capital Inc. now owns 39,845 shares of the company’s stock valued at $560,000 after purchasing an additional 1,990 shares in the last quarter. 68.68% of the stock is currently owned by hedge funds and other institutional investors.

Lightspeed Commerce Stock Down 0.3 %

NYSE:LSPD opened at $15.94 on Friday. Lightspeed Commerce Inc. has a 52 week low of $11.01 and a 52 week high of $21.71. The stock’s fifty day moving average is $13.67 and its two-hundred day moving average is $13.82. The company has a quick ratio of 6.06, a current ratio of 6.19 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of -14.90, a price-to-earnings-growth ratio of 8.59 and a beta of 2.34.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. Lightspeed Commerce had a negative return on equity of 0.99% and a negative net margin of 15.55%. The business had revenue of $266.10 million for the quarter, compared to analyst estimates of $258.58 million. During the same quarter in the prior year, the company earned ($0.14) earnings per share. The company’s revenue was up 27.3% on a year-over-year basis. Research analysts anticipate that Lightspeed Commerce Inc. will post 0.05 EPS for the current year.

Wall Street Analysts Forecast Growth

LSPD has been the subject of a number of analyst reports. Jefferies Financial Group dropped their price target on Lightspeed Commerce from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. Wells Fargo & Company decreased their price objective on Lightspeed Commerce from $17.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. 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 report on Thursday, September 26th. TD Securities decreased their price objective on Lightspeed Commerce from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Finally, Royal Bank of Canada cut Lightspeed Commerce from a “moderate buy” rating to a “strong sell” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Lightspeed Commerce currently has an average rating of “Hold” and an average price target of $18.59.

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.