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

StockNews.com initiated coverage on shares of Rocky Mountain Chocolate Factory (NASDAQ:RMCF) in a report published on Tuesday. The firm issued a hold rating on the stock.

Rocky Mountain Chocolate Factory Price Performance

Shares of NASDAQ:RMCF opened at $3.55 on Tuesday. The company has a market capitalization of $22.44 million, a price-to-earnings ratio of -5.22 and a beta of 1.06. The firm’s 50 day simple moving average is $3.85 and its 200 day simple moving average is $4.17. Rocky Mountain Chocolate Factory has a fifty-two week low of $3.45 and a fifty-two week high of $5.99.

Insiders Place Their Bets

In related news, major shareholder Global Value Investment Corp. bought 74,841 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were purchased at an average cost of $4.09 per share, for a total transaction of $306,099.69. Following the acquisition, the insider now owns 1,020,004 shares of the company’s stock, valued at approximately $4,171,816.36. The purchase was disclosed in a filing with the SEC, which is available at this link. In other Rocky Mountain Chocolate Factory news, major shareholder Global Value Investment Corp. purchased 74,841 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was bought at an average cost of $4.09 per share, with a total value of $306,099.69. Following the purchase, the insider now directly owns 1,020,004 shares of the company’s stock, valued at $4,171,816.36. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeffrey Richart Geygan purchased 21,763 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were acquired at an average cost of $4.10 per share, with a total value of $89,228.30. Following the completion of the purchase, the director now directly owns 1,049,109 shares in the company, valued at $4,301,346.90. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 113,959 shares of company stock worth $466,521. Company insiders own 14.87% of the company’s stock.

Hedge Funds Weigh In On Rocky Mountain Chocolate Factory

Several hedge funds have recently made changes to their positions in RMCF. Citadel Advisors LLC bought a new position in shares of Rocky Mountain Chocolate Factory during the 3rd quarter worth approximately $62,000. Renaissance Technologies LLC grew its stake in shares of Rocky Mountain Chocolate Factory by 2.1% during the 1st quarter. Renaissance Technologies LLC now owns 363,263 shares of the company’s stock worth $1,925,000 after acquiring an additional 7,300 shares in the last quarter. BlackRock Inc. grew its stake in shares of Rocky Mountain Chocolate Factory by 20.2% in the second quarter. BlackRock Inc. now owns 13,005 shares of the company’s stock valued at $70,000 after buying an additional 2,182 shares in the last quarter. Salvus Wealth Management LLC bought a new position in shares of Rocky Mountain Chocolate Factory in the fourth quarter valued at $53,000. Finally, Leverty Financial Group LLC bought a new position in shares of Rocky Mountain Chocolate Factory in the fourth quarter valued at $54,000. 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.