StockNews.com assumed coverage on shares of Rocky Mountain Chocolate Factory (NASDAQ:RMCF – Get Rating) in a research report issued to clients and investors on Thursday. The firm set a “hold” rating on the stock.
Shares of NASDAQ RMCF opened at $7.78 on Thursday. The company’s 50-day simple moving average is $7.99 and its 200-day simple moving average is $8.19. Rocky Mountain Chocolate Factory has a 52-week low of $5.05 and a 52-week high of $10.36. The firm has a market cap of $48.08 million, a price-to-earnings ratio of 33.83 and a beta of 1.13.
In related news, Director Jeffrey Richart Geygan acquired 4,700 shares of the business’s stock in a transaction dated Friday, January 28th. The shares were acquired at an average cost of $7.76 per share, for a total transaction of $36,472.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Bryan J. Merryman sold 27,394 shares of the firm’s stock in a transaction that occurred on Wednesday, February 9th. The shares were sold at an average price of $8.06, for a total transaction of $220,795.64. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 18,872 shares of company stock valued at $149,453 and have sold 33,858 shares valued at $271,539. Insiders own 18.60% of the company’s stock.
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A number of institutional investors have recently added to or reduced their stakes in RMCF. Morgan Stanley raised its stake 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 valued at $60,000 after purchasing an additional 3,000 shares in the last quarter. Geode Capital Management LLC bought a new stake in Rocky Mountain Chocolate Factory in the third quarter valued at $100,000. Newbridge Financial Services Group Inc. lifted its stake 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 valued at $283,000 after acquiring an additional 1,500 shares during the period. Finally, Redmond Asset Management LLC lifted its stake in Rocky Mountain Chocolate Factory by 132.4% in the fourth quarter. Redmond Asset Management LLC now owns 146,118 shares of the company’s stock valued at $1,145,000 after buying an additional 83,247 shares during the period. 52.48% of the stock is owned by hedge funds and other institutional investors.
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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