Investing

Activist Investor AB Value Wins Rocky Mountain Chocolate Board Seat (RMCF)

Fintel reports that AB Value Management LLC has filed a 13D/A form with the SEC disclosing ownership of 477,847 shares of Rocky Mountain Chocolate Factory, Inc. (RMCF). This represents 7.66% of the company.

In the last filing, dated September 8, 2022, they reported owning 7.69% of the company, indicating no change in their holdings.

On December 14, AB Value entered into a Settlement Agreement with Rocky Mountain. The Settlement Agreement includes provisions for appointing a new female director to the Issuer’s board of directors. The new director must have at least five years of experience in fast-moving consumer goods franchise operations and three years of prior public company board experience and must meet the criteria for independence under Nasdaq Listing Rules.

The new director will also be appointed to the Nominating and Corporate Governance Committee and the Board’s Audit Committee, subject to the board’s approval and the director’s qualifications.

Rocky Mountain Chocolate Factory, Inc., headquartered in Durango, Colorado, is an international franchiser of gourmet chocolate, confection and self-serve frozen yogurt stores and a manufacturer of an extensive line of premium chocolates and other confectionery products. As of January 13, 2021, the Company, through its subsidiaries and its franchisees and licensees, operated 390 Rocky Mountain Chocolate Factory and self-serve frozen yogurt stores in 40 states, Canada, South Korea, Qatar, the Republic of Panama, and The Republic of the Philippines.

What are other large shareholders doing?

Renaissance Technologies Llc holds 371,463 shares representing 5.95% ownership of the company. In its prior filing, the firm reported owning 392,163 shares, representing a decrease of 5.57%. The firm decreased its portfolio allocation in RMCF by 1.29% over the last quarter.

Redmond Asset Management, LLC holds 146,941 shares representing 2.36% ownership of the company. In it’s prior filing, the firm reported owning 147,207 shares, representing a decrease of 0.18%. The firm decreased its portfolio allocation in RMCF by 9.70% over the last quarter.

Bridgeway Capital Management Inc holds 38,100 shares representing 0.61% ownership of the company. No change in the last quarter.

Geode Capital Management, Llc holds 36,484 shares representing 0.58% ownership of the company. No change in the last quarter.

Ridgewood Investments LLC holds 36,280 shares representing 0.58% ownership of the company. In it’s prior filing, the firm reported owning 28,480 shares, representing an increase of 21.50%. The firm increased its portfolio allocation in RMCF by 17.72% over the last quarter.

What is the overall Fund Sentiment?

There are 49 funds or institutions reporting positions in Rocky Mountain Chocolate Factory, Inc.. This is an increase of 2 owner(s) or 4.26%.

Average portfolio weight of all funds dedicated to Rocky Mountain Chocolate Factory, Inc. is 0.0159%, a decrease of 10.1685%. Total shares owned by institutions decreased in the last three months by 0.39% to 1,702,000 shares.

Fintel’s Fund Sentiment Score is a quantitative model that ranks companies from zero to 100 based on Fund Sentiment. Fund Sentiment is important because it tells you if funds are buying or selling – and in particular how the company ranks compared to other companies in the investing universe.

Click to see the Fintel Fund Sentiment Score for RMCF / Rocky Mountain Chocolate Factory, Inc..

This article originally appeared on Fintel

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