Insider Buying: Richard Willis Acquires 3,300 Shares of Speed Commerce Stock (SPDC)
Speed Commerce (NASDAQ:SPDC) CEO Richard Willis purchased 3,300 shares of the stock in a transaction dated Wednesday, August 20th. The shares were purchased at an average price of $3.03 per share, with a total value of $9,999.00. Following the purchase, the chief executive officer now directly owns 553,767 shares of the company’s stock, valued at approximately $1,677,914. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Speed Commerce (NASDAQ:SPDC) traded up 3.50% on Thursday, hitting $3.25. 319,739 shares of the company’s stock traded hands. Speed Commerce has a 1-year low of $2.45 and a 1-year high of $4.84. The stock has a 50-day moving average of $3.01 and a 200-day moving average of $3.4. The company’s market cap is $212.7 million.
Speed Commerce (NASDAQ:SPDC) last posted its quarterly earnings results on Monday, June 16th. The company reported ($0.04) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.01 by $0.05. On average, analysts predict that Speed Commerce will post $0.08 earnings per share for the current fiscal year.
SPDC has been the subject of a number of recent research reports. Analysts at Stifel Nicolaus initiated coverage on shares of Speed Commerce in a research note on Wednesday, August 13th. They set a “hold” rating on the stock. Analysts at Zacks downgraded shares of Speed Commerce from a “neutral” rating to an “underperform” rating in a research note on Friday, August 8th. They now have a $2.50 price target on the stock.
Speed Commerce, Inc, formerly Navarre Corporation, is a distributor and provider of complete logistics solutions to traditional and Internet-based retailers.
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