Insider Buying: Speed Commerce CEO Buys 2,300 Shares of Stock (SPDC)
Speed Commerce (NASDAQ:SPDC) CEO Richard Willis purchased 2,300 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were purchased at an average cost of $3.25 per share, for a total transaction of $7,475.00. Following the purchase, the chief executive officer now directly owns 556,067 shares of the company’s stock, valued at approximately $1,807,218. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
Speed Commerce (NASDAQ:SPDC) opened at 3.29 on Wednesday. Speed Commerce has a 1-year low of $2.45 and a 1-year high of $4.84. The stock’s 50-day moving average is $3.01 and its 200-day moving average is $3.47. The company’s market cap is $215.3 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. Analysts expect that Speed Commerce will post $0.08 EPS for the current fiscal year.
Several analysts have recently commented on the stock. 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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