StockNews.com Initiates Coverage on Rocky Mountain Chocolate Factory (NASDAQ:RMCF)

Investment analysts at StockNews.com initiated coverage on shares of Rocky Mountain Chocolate Factory (NASDAQ:RMCF) in a note issued to investors on Tuesday. The firm set a “hold” rating on the stock.

Rocky Mountain Chocolate Factory Trading Up 1.9 %

Shares of RMCF stock opened at $2.70 on Tuesday. The company’s fifty day moving average price is $2.35 and its two-hundred day moving average price is $2.28. Rocky Mountain Chocolate Factory has a 12 month low of $1.50 and a 12 month high of $5.15.

Rocky Mountain Chocolate Factory (NASDAQ:RMCF) last released its quarterly earnings results on Tuesday, October 15th. The company reported ($0.11) EPS for the quarter. Rocky Mountain Chocolate Factory had a negative return on equity of 44.56% and a negative net margin of 17.05%. The business had revenue of $6.38 million during the quarter.

Insider Activity

In related news, major shareholder Global Value Investment Corp. bought 42,063 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were acquired at an average price of $2.89 per share, for a total transaction of $121,562.07. Following the purchase, the insider now owns 1,880,737 shares in the company, valued at $5,435,329.93. This trade represents a 2.29 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey Richart Geygan purchased 11,935 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was purchased at an average price of $2.60 per share, with a total value of $31,031.00. Following the completion of the purchase, the chief executive officer now directly owns 168,719 shares of the company’s stock, valued at approximately $438,669.40. This represents a 7.61 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 424,094 shares of company stock worth $1,137,016. 20.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rocky Mountain Chocolate Factory

An institutional investor recently raised its position in Rocky Mountain Chocolate Factory stock. Leverty Financial Group LLC raised its holdings in shares of Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) by 32.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,371 shares of the company’s stock after purchasing an additional 9,850 shares during the period. Leverty Financial Group LLC owned about 0.64% of Rocky Mountain Chocolate Factory worth $81,000 as of its most recent SEC filing. 50.27% of the stock is currently owned by institutional investors and hedge funds.

About Rocky Mountain Chocolate Factory

Rocky Mountain Chocolate Factory, Inc, together with its subsidiaries, operates as a confectionery franchisor, manufacturer, and retail operator. It operates through Franchising, Manufacturing, Retail Stores, and Other segments. The company produces approximately 400 chocolate candies and other confectionery products, including clusters, caramels, creams, toffees, mints, and truffles; and offers 15 varieties of caramel apples and other products that are prepared in individual stores, as well as provides ice cream, coffee, and other sundries.