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

StockNews.com started coverage on shares of Rocky Mountain Chocolate Factory (NASDAQ:RMCF) in a report released on Friday. The brokerage issued a hold rating on the stock.

Rocky Mountain Chocolate Factory Price Performance

Shares of RMCF stock opened at $2.39 on Friday. Rocky Mountain Chocolate Factory has a 1 year low of $1.50 and a 1 year high of $5.15. The company’s fifty day simple moving average is $2.64 and its two-hundred day simple moving average is $2.24.

Rocky Mountain Chocolate Factory (NASDAQ:RMCF) last issued its quarterly earnings data 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 return on equity of 44.56% and a negative net margin of 17.05%.

Insiders Place Their Bets

In related news, CEO Jeffrey Richart Geygan bought 11,935 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were acquired 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 directly owns 168,719 shares of the company’s stock, valued at $438,669.40. This trade represents a 7.61 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Global Value Investment Corp. bought 42,063 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were bought at an average price of $2.89 per share, with a total value 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. The trade was a 2.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 424,094 shares of company stock worth $1,137,016 in the last three months. 20.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Rocky Mountain Chocolate Factory

A hedge fund recently raised its position in Rocky Mountain Chocolate Factory stock. Leverty Financial Group LLC boosted its position in Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) by 32.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,371 shares of the company’s stock after acquiring an additional 9,850 shares during the quarter. Leverty Financial Group LLC owned 0.64% of Rocky Mountain Chocolate Factory worth $81,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors 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.