Rocky Mountain Chocolate Factory (NASDAQ:RMCF) Major Shareholder Allen Harper Sells 50,000 Shares of Stock

Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) major shareholder Allen Harper sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $2.45, for a total value of $122,500.00. Following the transaction, the insider owned 860,000 shares of the company’s stock, valued at approximately $2,107,000. This represents a 5.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 Stock Performance

NASDAQ:RMCF opened at $2.54 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.66 and a debt-to-equity ratio of 1.29. The firm’s fifty day simple moving average is $2.35 and its 200 day simple moving average is $2.08. The stock has a market cap of $23.70 million, a P/E ratio of -4.88 and a beta of 0.70. Rocky Mountain Chocolate Factory, Inc. has a twelve month low of $1.14 and a twelve month high of $2.99.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Rocky Mountain Chocolate Factory

A number of institutional investors have recently added to or reduced their stakes in RMCF. 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 buying an additional 64,108 shares during the period. DRW Securities LLC purchased a new stake in shares of Rocky Mountain Chocolate Factory in the 4th quarter worth about $235,000. Thompson Davis & CO. Inc. purchased a new stake in shares of Rocky Mountain Chocolate Factory in the 1st quarter worth about $215,000. Finally, Dimensional Fund Advisors LP grew its position 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 worth $213,000 after buying an additional 10,572 shares during the period. Institutional investors own 50.27% of the company’s stock.

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.