Allen Harper Sells 35,900 Shares of Rocky Mountain Chocolate Factory (NASDAQ:RMCF) Stock

Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) major shareholder Allen Harper sold 35,900 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $2.45, for a total transaction of $87,955.00. Following the completion of the sale, the insider owned 910,000 shares in the company, valued at $2,229,500. This represents a 3.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Rocky Mountain Chocolate Factory Stock Performance

Shares of Rocky Mountain Chocolate Factory stock opened at $2.54 on Friday. Rocky Mountain Chocolate Factory, Inc. has a fifty-two week low of $1.14 and a fifty-two week high of $2.99. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.66 and a quick ratio of 0.93. The firm has a market capitalization of $23.71 million, a P/E ratio of -4.88 and a beta of 0.70. The company’s 50 day moving average price is $2.35 and its two-hundred day moving average price is $2.08.

Hedge Funds Weigh In On Rocky Mountain Chocolate Factory

A number of hedge funds have recently modified their holdings of the business. American Capital Advisory LLC lifted its holdings in shares of Rocky Mountain Chocolate Factory by 90.6% during the first quarter. American Capital Advisory LLC now owns 134,867 shares of the company’s stock worth $303,000 after purchasing an additional 64,108 shares during the period. DRW Securities LLC acquired a new position in shares of Rocky Mountain Chocolate Factory during the fourth quarter worth $235,000. Thompson Davis & CO. Inc. bought a new position in Rocky Mountain Chocolate Factory during the first quarter worth $215,000. Finally, Dimensional Fund Advisors LP raised its stake in Rocky Mountain Chocolate Factory by 12.6% during the first quarter. Dimensional Fund Advisors LP now owns 94,756 shares of the company’s stock worth $213,000 after buying an additional 10,572 shares during the last quarter. Institutional investors and hedge funds own 50.27% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Rocky Mountain Chocolate Factory in a research report on Monday, March 30th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Rocky Mountain Chocolate Factory presently has a consensus rating of “Sell”.

About Rocky Mountain Chocolate Factory

Rocky Mountain Chocolate Factory, Inc is a specialty chocolate confectionery franchisor and manufacturer headquartered in Durango, Colorado. Established in 1981, the company develops, produces and markets a range of premium chocolate products, including truffles, caramels, toffees, fudge, nuts, dipped fruits and caramel apples. It operates company-owned retail stores as well as a franchised network, supplying handcrafted confections and related gift items through more than 300 retail locations across North America and select international markets.

From its origins as a single store in downtown Durango, Rocky Mountain Chocolate Factory introduced its first franchised outlets in the mid-1980s and completed a public offering in 1985.