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

Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) major shareholder Allen Harper sold 35,900 shares of the company’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 sale, the insider directly owned 910,000 shares of the company’s stock, valued at approximately $2,229,500. This represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Rocky Mountain Chocolate Factory Price Performance

Shares of RMCF stock remained flat at $2.54 during trading hours on Friday. The stock had a trading volume of 89,793 shares, compared to its average volume of 48,178. Rocky Mountain Chocolate Factory, Inc. has a 12-month low of $1.14 and a 12-month high of $2.99. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.93 and a current ratio of 1.66. The stock has a market cap of $23.70 million, a P/E ratio of -4.88 and a beta of 0.70. The stock’s 50-day moving average price is $2.35 and its 200-day moving average price is $2.08.

Institutional Investors Weigh In On Rocky Mountain Chocolate Factory

A number of hedge funds have recently bought and sold shares of the business. American Capital Advisory LLC lifted its position in 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 valued at $303,000 after purchasing an additional 64,108 shares during the last quarter. DRW Securities LLC bought a new stake in shares of Rocky Mountain Chocolate Factory in the 4th quarter worth about $235,000. Thompson Davis & CO. Inc. bought a new stake in shares of Rocky Mountain Chocolate Factory in the 1st quarter worth about $215,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Rocky Mountain Chocolate Factory by 12.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 94,756 shares of the company’s stock valued at $213,000 after acquiring an additional 10,572 shares during the last quarter. Hedge funds and other institutional investors own 50.27% of the company’s stock.

Wall Street Analysts Forecast Growth

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