Westrock Coffee (NASDAQ:WEST) Shares Gap Up After Insider Buying Activity

Westrock Coffee (NASDAQ:WEST) shares gapped up prior to trading on Thursday after an insider bought additional shares in the company. The stock had previously closed at $8.57, but opened at $8.79. Westrock Coffee shares last traded at $8.77, with a volume of 19,912 shares changing hands.

Specifically, Director Joe T. Ford purchased 17,005 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were purchased at an average cost of $7.55 per share, with a total value of $128,387.75. Following the purchase, the director now owns 140,922 shares of the company’s stock, valued at approximately $1,063,961.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Joe T. Ford acquired 17,005 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were bought at an average price of $7.55 per share, for a total transaction of $128,387.75. Following the acquisition, the director now owns 140,922 shares of the company’s stock, valued at approximately $1,063,961.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joe T. Ford purchased 5,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was acquired at an average cost of $9.98 per share, for a total transaction of $49,900.00. Following the completion of the purchase, the director now owns 123,917 shares of the company’s stock, valued at approximately $1,236,691.66. The disclosure for this purchase can be found here. Insiders purchased 39,822 shares of company stock valued at $362,097 over the last 90 days. Corporate insiders own 42.10% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Telsey Advisory Group restated an “outperform” rating and issued a $14.00 target price on shares of Westrock Coffee in a report on Monday, November 6th.

Westrock Coffee Price Performance

The stock has a market capitalization of $769.22 million, a PE ratio of -11.13 and a beta of 0.34. The firm’s fifty day moving average price is $8.85. The company has a current ratio of 1.53, a quick ratio of 0.80 and a debt-to-equity ratio of 1.63.

Hedge Funds Weigh In On Westrock Coffee

Several institutional investors and hedge funds have recently bought and sold shares of the company. Portside Wealth Group LLC acquired a new stake in shares of Westrock Coffee during the 2nd quarter worth approximately $1,732,000. Barclays PLC acquired a new stake in Westrock Coffee during the second quarter worth $106,000. Gladius Capital Management LP purchased a new stake in Westrock Coffee in the third quarter valued at $29,000. DAVENPORT & Co LLC raised its position in Westrock Coffee by 29.9% in the third quarter. DAVENPORT & Co LLC now owns 158,675 shares of the company’s stock valued at $1,406,000 after purchasing an additional 36,550 shares during the period. Finally, Raymond James & Associates grew its holdings in shares of Westrock Coffee by 70.0% during the 3rd quarter. Raymond James & Associates now owns 272,544 shares of the company’s stock worth $2,415,000 after purchasing an additional 112,254 shares during the period. 46.40% of the stock is currently owned by institutional investors and hedge funds.

Westrock Coffee Company Profile

Westrock Coffee Company, LLC operates as an integrated coffee, tea, flavors, extracts, and ingredients solutions provider in the United States and internationally. It operates through two segments, Beverage Solutions and Sustainable Sourcing and Traceability. The company provides coffee sourcing, supply chain management, product development, roasting, packaging, and distribution services to the retail, food service and restaurant, convenience store and travel center, non-commercial account, CPG, and hospitality industries.