Insider Buying: Speed Commerce CEO Purchases 2,300 Shares of Stock (SPDC)
Speed Commerce (NASDAQ:SPDC) CEO Richard Willis bought 2,300 shares of the company’s stock on the open market in a transaction dated Tuesday, August 26th. The stock was purchased at an average cost of $3.25 per share, with a total value of $7,475.00. Following the completion of the purchase, the chief executive officer now directly owns 556,067 shares of the company’s stock, valued at approximately $1,807,218. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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.
Shares of Speed Commerce (NASDAQ:SPDC) opened at 3.29 on Wednesday. Speed Commerce has a 52 week low of $2.45 and a 52 week high of $4.84. The stock has a 50-day moving average of $3.01 and a 200-day moving average of $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) 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.
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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