Rocky Mountain Chocolate Factory (NASDAQ:RMCF) Earns Hold Rating from Analysts at StockNews.com

Stock analysts at 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 Wednesday. The brokerage set a “hold” rating on the stock.

Shares of NASDAQ RMCF opened at $7.44 on Wednesday. The stock has a market cap of $46.18 million, a price-to-earnings ratio of -124.00 and a beta of 1.13. The business has a 50 day simple moving average of $6.62 and a 200 day simple moving average of $7.46. Rocky Mountain Chocolate Factory has a 52 week low of $5.48 and a 52 week high of $10.36.

In related news, insider Andrew Berger bought 5,000 shares of Rocky Mountain Chocolate Factory stock in a transaction that occurred on Thursday, June 16th. The stock was purchased at an average cost of $6.84 per share, for a total transaction of $34,200.00. Following the acquisition, the insider now owns 17,658 shares in the company, valued at $120,780.72. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 18.60% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the business. Redmond Asset Management LLC lifted its stake 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 valued at $1,145,000 after acquiring an additional 83,247 shares during the period. Ridgewood Investments LLC acquired a new position in Rocky Mountain Chocolate Factory in the first quarter valued at about $215,000. Geode Capital Management LLC acquired a new stake in shares of Rocky Mountain Chocolate Factory during the third quarter worth about $100,000. Finally, Morgan Stanley raised its position 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 purchasing an additional 3,000 shares during the period. Hedge funds and other institutional investors own 36.76% of the company’s stock.

Rocky Mountain Chocolate Factory Company Profile (Get Rating)

Rocky Mountain Chocolate Factory, Inc, together with its subsidiaries, operates as a confectionery franchisor, manufacturer, and retail operator. It operates through five segments: Franchising, Manufacturing, Retail Stores, U-Swirl Operations, and Other. 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.

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