Insider Buying: Speed Commerce CEO Purchases 3,300 Shares of Stock (SPDC)
Speed Commerce (NASDAQ:SPDC) CEO Richard Willis acquired 3,300 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, August 20th. The shares were purchased at an average price of $3.03 per share, for a total transaction of $9,999.00. Following the acquisition, the chief executive officer now directly owns 553,767 shares of the company’s stock, valued at approximately $1,677,914. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of research firms have recently commented on SPDC. 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 (NASDAQ:SPDC) opened at 3.25 on Friday. Speed Commerce has a 52-week low of $2.45 and a 52-week high of $4.84. The stock’s 50-day moving average is $3.00 and its 200-day moving average is $3.49. 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) earnings per share (EPS) for the quarter, missing the 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.
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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