Rocky Mountain Chocolate Factory (NASDAQ:RMCF) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Rocky Mountain Chocolate Factory (NASDAQ:RMCF) in a research note issued to investors on Saturday. The brokerage issued a hold rating on the stock.

Rocky Mountain Chocolate Factory Stock Performance

Rocky Mountain Chocolate Factory stock opened at $2.68 on Friday. Rocky Mountain Chocolate Factory has a 52-week low of $1.50 and a 52-week high of $5.15. The stock’s 50 day moving average price is $2.11 and its two-hundred day moving average price is $2.37.

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

Insider Activity

In other news, major shareholder Global Value Investment Corp. purchased 23,700 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were acquired at an average cost of $2.14 per share, with a total value of $50,718.00. Following the purchase, the insider now owns 1,251,483 shares in the company, valued at $2,678,173.62. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Rocky Mountain Chocolate Factory news, CEO Jeffrey Richart Geygan acquired 11,935 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were purchased at an average cost of $2.60 per share, with a total value of $31,031.00. Following the completion of the purchase, the chief executive officer now owns 168,719 shares of the company’s stock, valued at approximately $438,669.40. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Global Value Investment Corp. bought 23,700 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were acquired at an average cost of $2.14 per share, with a total value of $50,718.00. Following the completion of the transaction, the insider now owns 1,251,483 shares of the company’s stock, valued at $2,678,173.62. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 424,094 shares of company stock worth $1,137,016 in the last three months. Company insiders own 20.80% of the company’s stock.

Hedge Funds Weigh In On Rocky Mountain Chocolate Factory

An institutional investor recently raised its position in Rocky Mountain Chocolate Factory stock. Leverty Financial Group LLC grew its stake in Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) by 32.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,371 shares of the company’s stock after purchasing an additional 9,850 shares during the quarter. Leverty Financial Group LLC owned approximately 0.64% of Rocky Mountain Chocolate Factory worth $81,000 at the end of the most recent reporting period. 50.27% of the stock is owned by institutional investors.

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.