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

StockNews.com began coverage on shares of Rocky Mountain Chocolate Factory (NASDAQ:RMCF) in a research note issued on Thursday. The brokerage set a “hold” rating on the stock.

Rocky Mountain Chocolate Factory Stock Performance

Shares of RMCF opened at $3.56 on Thursday. The stock has a 50-day moving average price of $3.74 and a 200 day moving average price of $4.09. Rocky Mountain Chocolate Factory has a one year low of $3.45 and a one year high of $5.99. The company has a market capitalization of $22.50 million, a P/E ratio of -5.24 and a beta of 1.03.

Insiders Place Their Bets

In other news, Director Jeffrey Richart Geygan bought 21,763 shares of Rocky Mountain Chocolate Factory stock in a transaction on Tuesday, February 13th. The shares were bought at an average price of $4.10 per share, with a total value of $89,228.30. Following the acquisition, the director now directly owns 1,049,109 shares in the company, valued at approximately $4,301,346.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Jeffrey Richart Geygan bought 21,763 shares of Rocky Mountain Chocolate Factory stock in a transaction on Tuesday, February 13th. The shares were bought at an average price of $4.10 per share, with a total value of $89,228.30. Following the acquisition, the director now directly owns 1,049,109 shares in the company, valued at approximately $4,301,346.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Global Value Investment Corp. bought 10,650 shares of Rocky Mountain Chocolate Factory stock in a transaction on Monday, February 12th. The shares were purchased at an average cost of $4.09 per share, for a total transaction of $43,558.50. Following the acquisition, the insider now owns 1,065,878 shares in the company, valued at $4,359,441.02. The disclosure for this purchase can be found here. Insiders have bought a total of 38,373 shares of company stock valued at $157,375 in the last quarter. Insiders own 14.87% of the company’s stock.

Institutional Trading of Rocky Mountain Chocolate Factory

Several hedge funds have recently made changes to their positions in the stock. Salvus Wealth Management LLC lifted its holdings in shares of Rocky Mountain Chocolate Factory by 33.5% in the 1st quarter. Salvus Wealth Management LLC now owns 15,395 shares of the company’s stock worth $56,000 after purchasing an additional 3,865 shares during the last quarter. Leverty Financial Group LLC lifted its holdings in shares of Rocky Mountain Chocolate Factory by 70.5% in the 1st quarter. Leverty Financial Group LLC now owns 20,081 shares of the company’s stock worth $73,000 after purchasing an additional 8,300 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Rocky Mountain Chocolate Factory by 360.0% in the 4th quarter. International Assets Investment Management LLC now owns 14,260 shares of the company’s stock worth $66,000 after purchasing an additional 11,160 shares during the last quarter. 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.