1832 Asset Management L.P. Increases Holdings in Lightspeed Commerce Inc. (NYSE:LSPD)

1832 Asset Management L.P. grew its holdings in shares of Lightspeed Commerce Inc. (NYSE:LSPD - Free Report) by 345,464.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 404,310 shares of the company's stock after acquiring an additional 404,193 shares during the period. 1832 Asset Management L.P. owned about 0.26% of Lightspeed Commerce worth $5,535,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Canada Pension Plan Investment Board raised its holdings in Lightspeed Commerce by 10.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 206,700 shares of the company's stock worth $2,825,000 after purchasing an additional 20,000 shares during the last quarter. Dimensional Fund Advisors LP raised 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 last quarter. Headlands Technologies LLC acquired a new position in Lightspeed Commerce in the second quarter valued at $181,000. TD Asset Management Inc boosted its position in Lightspeed Commerce by 0.7% during the second quarter. TD Asset Management Inc now owns 384,137 shares of the company's stock valued at $5,250,000 after acquiring an additional 2,828 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in Lightspeed Commerce by 6.6% during the 2nd quarter. CIBC Asset Management Inc now owns 175,008 shares of the company's stock worth $2,391,000 after acquiring an additional 10,809 shares during the period. Institutional investors and hedge funds own 68.68% of the company's stock.

Lightspeed Commerce Stock Up 12.9 %

Lightspeed Commerce stock traded up $1.80 during midday trading on Wednesday, hitting $15.69. 9,321,114 shares of the stock were exchanged, compared to its average volume of 1,161,130. 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 $2.38 billion, a price-to-earnings ratio of -14.80, a price-to-earnings-growth ratio of 8.59 and a beta of 2.32. Lightspeed Commerce Inc. has a 52-week low of $11.01 and a 52-week high of $21.71. The business's 50-day moving average price is $13.01 and its 200-day moving average price is $13.59.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.10 EPS for the quarter, beating 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 company had revenue of $266.10 million during the quarter, compared to the consensus estimate of $258.58 million. During the same period last year, the business posted ($0.14) earnings per share. Lightspeed Commerce's revenue was up 27.3% on a year-over-year basis. On average, research analysts expect that Lightspeed Commerce Inc. will post 0.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on LSPD. Wells Fargo & Company cut their target price on Lightspeed Commerce from $17.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 31st. Jefferies Financial Group reduced their price objective on shares of Lightspeed Commerce from $22.00 to $20.00 and set a "hold" rating for the company in a research report on Wednesday, August 21st. JPMorgan Chase & Co. dropped their target price on shares of Lightspeed Commerce from $15.00 to $14.00 and set a "neutral" rating on the stock in a research report on Tuesday, August 20th. TD Securities reduced their price target on shares of Lightspeed Commerce from $16.00 to $15.00 and set a "hold" rating for the company in a report on Friday, August 2nd. Finally, Royal Bank of Canada lowered shares of 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 assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Lightspeed Commerce presently has a consensus rating of "Hold" and an average target price of $18.65.

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.