Rocky Mountain Chocolate Factory (NASDAQ:RMCF) Receives New Coverage from Analysts at StockNews.com

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

Rocky Mountain Chocolate Factory Stock Down 0.6 %

Shares of RMCF stock opened at $4.09 on Thursday. The stock has a fifty day moving average price of $4.47 and a 200 day moving average price of $5.08. Rocky Mountain Chocolate Factory has a 1 year low of $3.72 and a 1 year high of $6.71.

Rocky Mountain Chocolate Factory (NASDAQ:RMCF) last released its quarterly earnings results on Wednesday, October 11th. The company reported ($0.16) earnings per share for the quarter. The company had revenue of $6.56 million for the quarter. Rocky Mountain Chocolate Factory had a negative return on equity of 17.60% and a negative net margin of 12.24%.

Insider Activity at Rocky Mountain Chocolate Factory

In other news, Director Jeffrey Richart Geygan bought 12,131 shares of Rocky Mountain Chocolate Factory stock in a transaction that occurred on Thursday, November 2nd. The shares were purchased at an average price of $3.93 per share, for a total transaction of $47,674.83. Following the completion of the acquisition, the director now owns 846,652 shares of the company’s stock, valued at $3,327,342.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Jeffrey Richart Geygan acquired 12,131 shares of Rocky Mountain Chocolate Factory stock in a transaction on Thursday, November 2nd. The shares were bought at an average price of $3.93 per share, for a total transaction of $47,674.83. Following the completion of the purchase, the director now directly owns 846,652 shares in the company, valued at approximately $3,327,342.36. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Global Value Investment Corp. acquired 8,946 shares of Rocky Mountain Chocolate Factory stock in a transaction on Friday, November 3rd. The shares were bought at an average price of $4.07 per share, for a total transaction of $36,410.22. Following the purchase, the insider now owns 893,385 shares of the company’s stock, valued at $3,636,076.95. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 66,185 shares of company stock worth $275,698. 14.87% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RMCF. BlackRock Inc. increased its holdings in 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 during the last quarter. Renaissance Technologies LLC increased its holdings in Rocky Mountain Chocolate Factory by 2.1% in the first quarter. Renaissance Technologies LLC now owns 363,263 shares of the company’s stock valued at $1,925,000 after buying an additional 7,300 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in Rocky Mountain Chocolate Factory in the third quarter valued at about $62,000. Institutional investors and hedge funds own 44.44% of the company’s stock.

Rocky Mountain Chocolate Factory Company Profile

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.