Castle Brands Inc (NYSE:ROX)’s share price was up 10.6% during trading on Thursday following insider buying activity. The company traded as high as $0.80 and last traded at $0.79, with a volume of 750,011 shares traded. The stock had previously closed at $0.71.
Specifically, CEO Richard Lampen purchased 40,000 shares of the company’s stock in a transaction on Wednesday, December 28th. The shares were purchased at an average cost of $0.73 per share, with a total value of $29,200.00. Following the completion of the purchase, the chief executive officer now owns 1,807,470 shares in the company, valued at $1,319,453.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Phillip Md Et Al Frost purchased 150,000 shares of the company’s stock in a transaction on Friday, December 23rd. The stock was acquired at an average cost of $0.69 per share, for a total transaction of $103,500.00. Following the completion of the purchase, the director now owns 779,776 shares of the company’s stock, valued at approximately $538,045.44. The disclosure for this purchase can be found here.
Several equities analysts have issued reports on the company. Zacks Investment Research lowered Castle Brands from a “hold” rating to a “sell” rating in a research note on Thursday, November 17th. TheStreet upgraded Castle Brands from a “sell” rating to a “hold” rating in a report on Monday, September 26th.
The company’s 50 day moving average is $0.74 and its 200-day moving average is $0.81. The stock’s market capitalization is $122.33 million.
A number of institutional investors have recently bought and sold shares of the company. Hartline Investment Corp raised its position in Castle Brands by 0.3% in the third quarter. Hartline Investment Corp now owns 2,737,225 shares of the company’s stock valued at $2,387,000 after buying an additional 8,050 shares during the last quarter. Bridgeway Capital Management Inc. raised its position in Castle Brands by 59.4% in the second quarter. Bridgeway Capital Management Inc. now owns 939,187 shares of the company’s stock valued at $688,000 after buying an additional 350,000 shares during the last quarter. Finally, Paloma Partners Management Co bought a new position in Castle Brands during the second quarter valued at about $179,000.
About Castle Brands
Castle Brands Inc develops and markets premium and super premium brands in the beverage alcohol categories. The Company is engaged in the sale of premium beverage alcohol. Its beverage alcohol categories include rum, whiskey, liqueurs, vodka and tequila. Its brands include Gosling’s rum, Gosling’s Stormy Ginger Beer, Gosling’s Dark ‘n Stormy ready-to-drink cocktail, Jefferson’s bourbon, Jefferson’s Reserve, Jefferson’s Ocean Aged at Sea, Jefferson’s Wine Finish Collection, Jefferson’s The Manhattan: Barrel Finished Cocktail, Jefferson’s Chef’s Collaboration, Jefferson’s Wood Experiment, Jefferson’s Presidential Select, Jefferson’s Rye whiskey, Pallini liqueurs, Clontarf Irish whiskey, Knappogue Castle Whiskey, Brady’s Irish Cream, Boru vodka, Tierras tequila, Celtic Honey liqueur and Gozio amaretto.