Rocky Mountain Chocolate Factory (NASDAQ:RMCF) Major Shareholder Sells $29,372.20 in Stock

Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) major shareholder Allen Harper sold 11,297 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $2.60, for a total transaction of $29,372.20. Following the completion of the transaction, the insider owned 954,818 shares of the company’s stock, valued at $2,482,526.80. This represents a 1.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Rocky Mountain Chocolate Factory Stock Down 2.6%

Shares of RMCF traded down $0.06 during mid-day trading on Thursday, hitting $2.28. 13,855 shares of the company traded hands, compared to its average volume of 19,951. Rocky Mountain Chocolate Factory, Inc. has a 1-year low of $1.14 and a 1-year high of $2.99. 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 company has a market capitalization of $21.27 million, a PE ratio of -4.38 and a beta of 0.72. The business has a 50 day moving average of $2.42 and a 200 day moving average of $2.01.

Rocky Mountain Chocolate Factory (NASDAQ:RMCF) last issued its quarterly earnings results on Tuesday, January 13th. The company reported ($0.02) earnings per share for the quarter. Rocky Mountain Chocolate Factory had a negative return on equity of 62.48% and a negative net margin of 13.62%.The business had revenue of $7.54 million during the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rocky Mountain Chocolate Factory in a research note on Monday, March 30th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Institutional Trading of Rocky Mountain Chocolate Factory

A number of institutional investors have recently bought and sold shares of the company. Salvus Wealth Management LLC lifted its position in shares of Rocky Mountain Chocolate Factory by 53.1% in the third quarter. Salvus Wealth Management LLC now owns 23,567 shares of the company’s stock valued at $37,000 after acquiring an additional 8,172 shares in the last quarter. American Capital Advisory LLC purchased a new position in Rocky Mountain Chocolate Factory during the fourth quarter worth about $134,000. Thompson Davis & CO. Inc. purchased a new position in shares of Rocky Mountain Chocolate Factory in the 1st quarter worth about $215,000. Finally, DRW Securities LLC purchased a new position in shares of Rocky Mountain Chocolate Factory in the 4th quarter worth about $235,000. 50.27% of the stock is currently owned by hedge funds and other institutional investors.

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.