Westrock Coffee (NASDAQ:WEST) Shares Gap Up on Insider Buying Activity

Westrock Coffee (NASDAQ:WEST) shares gapped up prior to trading on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $6.55, but opened at $6.83. Westrock Coffee shares last traded at $6.80, with a volume of 45,419 shares.

Specifically, COO William A. Ford bought 15,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was bought at an average price of $6.45 per share, with a total value of $96,750.00. Following the completion of the transaction, the chief operating officer now directly owns 476,190 shares of the company’s stock, valued at approximately $3,071,425.50. This represents a 3.25 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analyst Ratings Changes

Several brokerages have recently weighed in on WEST. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $9.00 target price on shares of Westrock Coffee in a research report on Wednesday, March 12th. Benchmark reissued a “buy” rating and issued a $10.00 price target on shares of Westrock Coffee in a report on Friday, March 14th.

Westrock Coffee Price Performance

The stock has a market cap of $650.93 million, a PE ratio of -7.90 and a beta of 0.59. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.39 and a quick ratio of 0.73. The business has a fifty day moving average of $6.48 and a 200 day moving average of $6.78.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quest Partners LLC raised its stake in Westrock Coffee by 32,869.0% during the third quarter. Quest Partners LLC now owns 60,663 shares of the company’s stock valued at $394,000 after buying an additional 60,479 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Westrock Coffee during the third quarter valued at approximately $71,000. Charles Schwab Investment Management Inc. raised its stake in Westrock Coffee by 8.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 282,643 shares of the company’s stock valued at $1,837,000 after buying an additional 22,945 shares in the last quarter. Principal Street Partners LLC raised its stake in Westrock Coffee by 100.0% during the third quarter. Principal Street Partners LLC now owns 391,680 shares of the company’s stock valued at $2,546,000 after buying an additional 195,800 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in Westrock Coffee during the third quarter valued at approximately $121,000. Hedge funds and other institutional investors own 45.08% of the company’s stock.

About Westrock Coffee

Westrock Coffee Company, LLC operates as an integrated coffee, tea, flavors, extracts, and ingredients solutions provider in the United States and internationally. It operates through two segments, Beverage Solutions, and Sustainable Sourcing & Traceability (SS&T). The Beverage Solutions segment provides various packaging, including branded and private label coffee in bags, fractional packs, and single serve cups, as well as extract solutions for applications in cold brew and ready-to-drink offerings.