StockNews.com initiated coverage on shares of Rocky Mountain Chocolate Factory (NASDAQ:RMCF – Get Rating) in a research report issued on Wednesday. The firm set a “hold” rating on the stock.
RMCF opened at $7.92 on Wednesday. The business’s 50-day moving average price is $8.03 and its two-hundred day moving average price is $8.18. Rocky Mountain Chocolate Factory has a 1 year low of $4.45 and a 1 year high of $10.36. The company has a market capitalization of $48.95 million, a price-to-earnings ratio of 34.43 and a beta of 1.14.
In other news, CEO Bryan J. Merryman sold 27,394 shares of the firm’s stock in a transaction dated Wednesday, February 9th. The stock was sold at an average price of $8.06, for a total value of $220,795.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Ryan R. Mcgrath sold 4,464 shares of the firm’s stock in a transaction dated Monday, January 31st. The shares were sold at an average price of $7.81, for a total value of $34,863.84. The disclosure for this sale can be found here. In the last 90 days, insiders bought 18,872 shares of company stock valued at $149,453 and sold 33,858 shares valued at $271,539. 18.60% of the stock is owned by company insiders.
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A number of institutional investors have recently bought and sold shares of the stock. Morgan Stanley boosted its holdings in shares of Rocky Mountain Chocolate Factory by 35.7% during the first quarter. Morgan Stanley now owns 11,400 shares of the company’s stock worth $60,000 after acquiring an additional 3,000 shares during the period. Geode Capital Management LLC bought a new stake in shares of Rocky Mountain Chocolate Factory during the third quarter worth approximately $100,000. Newbridge Financial Services Group Inc. boosted its holdings in shares of Rocky Mountain Chocolate Factory by 4.2% during the second quarter. Newbridge Financial Services Group Inc. now owns 37,100 shares of the company’s stock worth $283,000 after acquiring an additional 1,500 shares during the period. Finally, Redmond Asset Management LLC boosted its holdings in shares of Rocky Mountain Chocolate Factory by 132.4% during the fourth quarter. Redmond Asset Management LLC now owns 146,118 shares of the company’s stock worth $1,145,000 after acquiring an additional 83,247 shares during the period. Institutional investors and hedge funds own 52.48% of the company’s stock.
Rocky Mountain Chocolate Factory Company Profile (Get Rating)
Rocky Mountain Chocolate Factory, Inc is a franchisor, confectionery manufacturer and retail operator in the United States, Canada, Philippines, Japan, South Korea, and the United Arab Emirates. The firm manufactures a line of premium chocolate candies and other confectionery products to supply its franchise locations, delivered fresh by its fleet of refrigerated trucks.
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