Mama’s Creations (NASDAQ:MAMA) Reaches New 12-Month High on Earnings Beat

Mama’s Creations, Inc. (NASDAQ:MAMA) reached a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $14.00 and last traded at $13.0640, with a volume of 741502 shares changing hands. The stock had previously closed at $11.18.

The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. Mama’s Creations had a return on equity of 16.72% and a net margin of 3.08%.The company had revenue of $47.27 million for the quarter, compared to analysts’ expectations of $43.21 million. During the same period in the previous year, the firm posted $0.01 EPS.

Analyst Ratings Changes

MAMA has been the topic of a number of research analyst reports. Zacks Research lowered Mama’s Creations from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. DA Davidson raised their price objective on Mama’s Creations from $18.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday. Craig Hallum lifted their target price on shares of Mama’s Creations from $12.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Mama’s Creations in a research report on Monday. Finally, Maxim Group set a $20.00 price target on shares of Mama’s Creations in a research note on Tuesday. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Mama’s Creations has an average rating of “Moderate Buy” and a consensus price target of $16.50.

Insider Transactions at Mama’s Creations

In other Mama’s Creations news, Director Shirley Romig sold 4,000 shares of the business’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $10.18, for a total value of $40,720.00. Following the transaction, the director directly owned 17,139 shares in the company, valued at $174,475.02. The trade was a 18.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Adam Laurance Michaels sold 65,220 shares of the firm’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $10.89, for a total transaction of $710,245.80. Following the sale, the chief executive officer owned 598,660 shares of the company’s stock, valued at $6,519,407.40. This represents a 9.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 72,732 shares of company stock worth $788,544 over the last ninety days. 6.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Mama’s Creations

Large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Mama’s Creations by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,893,943 shares of the company’s stock worth $19,905,000 after purchasing an additional 7,254 shares during the last quarter. First Eagle Investment Management LLC lifted its position in Mama’s Creations by 1.6% in the third quarter. First Eagle Investment Management LLC now owns 1,337,614 shares of the company’s stock valued at $14,058,000 after buying an additional 21,700 shares during the last quarter. Grandeur Peak Global Advisors LLC boosted its stake in Mama’s Creations by 8.6% during the second quarter. Grandeur Peak Global Advisors LLC now owns 1,158,781 shares of the company’s stock worth $9,618,000 after buying an additional 91,857 shares during the period. Geode Capital Management LLC increased its position in shares of Mama’s Creations by 7.2% during the second quarter. Geode Capital Management LLC now owns 821,094 shares of the company’s stock valued at $6,816,000 after acquiring an additional 55,173 shares during the last quarter. Finally, Park West Asset Management LLC acquired a new stake in shares of Mama’s Creations during the third quarter valued at about $8,408,000. Institutional investors and hedge funds own 45.18% of the company’s stock.

Mama’s Creations Stock Down 8.6%

The business’s 50 day moving average price is $10.90 and its 200-day moving average price is $9.53. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.15 and a current ratio of 1.85. The firm has a market capitalization of $532.11 million, a PE ratio of 119.01 and a beta of 0.79.

Mama’s Creations Company Profile

Mama’s Creations, Inc engages in the marketing, manufacturing, and distribution of beef meatballs with sauce, turkey meatballs with sauce, beef meat loaf, sausage and peppers, chicken parmesan, and other similar meats and sauces. Its products include beef meatballs, turkey meatballs, stuffed meatballs, lasagna roll ups, retail ready meals, bulk deli, single-size pasta bowls, and packaged refrigerated products.