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

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

Rocky Mountain Chocolate Factory Price Performance

Rocky Mountain Chocolate Factory stock remained flat at $2.54 during midday trading on Friday. 89,793 shares of the company were exchanged, compared to its average volume of 48,178. 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 company has a market capitalization of $23.70 million, a price-to-earnings ratio of -4.88 and a beta of 0.70. Rocky Mountain Chocolate Factory, Inc. has a 12 month low of $1.14 and a 12 month high of $2.99. The stock has a 50-day simple moving average of $2.35 and a two-hundred day simple moving average of $2.08.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Rocky Mountain Chocolate Factory

A number of hedge funds have recently made changes to their positions in RMCF. Dimensional Fund Advisors LP boosted its stake in Rocky Mountain Chocolate Factory by 12.6% in the first 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 in the last quarter. American Capital Advisory LLC increased its position 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 in the last quarter. Thompson Davis & CO. Inc. purchased a new stake in shares of Rocky Mountain Chocolate Factory during the 1st quarter valued at $215,000. Finally, DRW Securities LLC purchased a new stake in shares of Rocky Mountain Chocolate Factory during the 4th quarter valued at $235,000. 50.27% of the stock is currently owned by hedge funds and other institutional investors.

Rocky Mountain Chocolate Factory Company Profile

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.