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

Equities researchers at StockNews.com initiated coverage on shares of Rocky Mountain Chocolate Factory (NASDAQ:RMCF) in a research note issued to investors on Monday. The brokerage set a “hold” rating on the stock.

Rocky Mountain Chocolate Factory Price Performance

Rocky Mountain Chocolate Factory stock opened at $2.55 on Monday. The company’s 50 day moving average price is $2.25 and its two-hundred day moving average price is $2.31. Rocky Mountain Chocolate Factory has a 52 week low of $1.50 and a 52 week high of $5.15.

Rocky Mountain Chocolate Factory (NASDAQ:RMCF) last announced its quarterly earnings data on Tuesday, October 15th. The company reported ($0.11) earnings per share for the quarter. The firm 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 at Rocky Mountain Chocolate Factory

In related news, major shareholder Global Value Investment Corp. acquired 42,063 shares of the stock in a transaction on Tuesday, October 29th. The stock was purchased at an average price of $2.89 per share, for a total transaction of $121,562.07. Following the completion of the transaction, the insider now owns 1,880,737 shares of the company’s stock, valued at $5,435,329.93. This trade represents a 2.29 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Richart Geygan acquired 11,935 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was purchased at an average price of $2.60 per share, for a total transaction of $31,031.00. Following the transaction, the chief executive officer now directly owns 168,719 shares of the company’s stock, valued at approximately $438,669.40. This trade represents a 7.61 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 424,094 shares of company stock valued at $1,137,016 over the last 90 days. 20.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Rocky Mountain Chocolate Factory

A hedge fund recently raised its stake in Rocky Mountain Chocolate Factory stock. Leverty Financial Group LLC lifted its position in shares of Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) by 52.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,521 shares of the company’s stock after acquiring an additional 10,440 shares during the period. Leverty Financial Group LLC owned approximately 0.48% of Rocky Mountain Chocolate Factory worth $67,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 50.27% of the company’s stock.

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.