Key Points
- CEO Adam Michaels sold 69,683 Mama’s Creations shares for approximately $927,481, reducing his ownership by 8.79%. The transaction occurred under a pre-arranged Rule 10b5-1 plan to cover tax withholding related to vested equity awards.
- Mama’s Creations exceeded quarterly expectations, reporting $0.06 in earnings per share on $54.58 million in revenue, above analyst estimates of $0.05 and $52.85 million, respectively.
- Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and a $20 price target, although several firms recently downgraded the stock to “Hold.” Institutional investors own 45.18% of the company.
Mama's Creations, Inc. (NASDAQ:MAMA - Get Free Report) CEO Adam Michaels sold 69,683 shares of the company's stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $13.31, for a total transaction of $927,480.73. Following the transaction, the chief executive officer owned 722,719 shares of the company's stock, valued at $9,619,389.89. This trade represents a 8.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Mama's Creations Price Performance
Shares of MAMA opened at $13.37 on Friday. Mama's Creations, Inc. has a 12-month low of $9.90 and a 12-month high of $21.00. The business has a 50-day simple moving average of $16.30 and a two-hundred day simple moving average of $15.91. The company has a quick ratio of 6.48, a current ratio of 6.93 and a debt-to-equity ratio of 0.03. The stock has a market cap of $630.40 million, a PE ratio of 78.65 and a beta of 0.56.
Mama's Creations (NASDAQ:MAMA - Get Free Report) last released its quarterly earnings results on Thursday, September 3rd. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. Mama's Creations had a return on equity of 10.05% and a net margin of 3.53%.The company had revenue of $54.58 million for the quarter, compared to analysts' expectations of $52.85 million. Analysts anticipate that Mama's Creations, Inc. will post 0.25 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on MAMA. Weiss Ratings lowered shares of Mama's Creations from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, September 17th. William Blair started coverage on Mama's Creations in a report on Friday, July 24th. They set an "outperform" rating on the stock. Lake Street Capital reiterated a "buy" rating and issued a $22.00 price target on shares of Mama's Creations in a research report on Friday, September 4th. Wall Street Zen downgraded Mama's Creations from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Finally, Zacks Research downgraded shares of Mama's Creations from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.00.
Read Our Latest Analysis on Mama's Creations
Institutional Trading of Mama's Creations
A number of large investors have recently bought and sold shares of MAMA. Tidal Investments LLC bought a new position in shares of Mama's Creations in the 2nd quarter worth about $221,000. Squarepoint Ops LLC boosted its position in shares of Mama's Creations by 278.2% during the 2nd quarter. Squarepoint Ops LLC now owns 138,301 shares of the company's stock valued at $2,469,000 after purchasing an additional 101,736 shares in the last quarter. HighTower Advisors LLC bought a new stake in Mama's Creations in the second quarter worth approximately $183,000. Grandeur Peak Global Advisors LLC lifted its stake in Mama's Creations by 4.5% in the second quarter. Grandeur Peak Global Advisors LLC now owns 88,406 shares of the company's stock valued at $1,578,000 after buying an additional 3,798 shares during the period. Finally, Alyeska Investment Group L.P. lifted its stake in Mama's Creations by 137.5% in the second quarter. Alyeska Investment Group L.P. now owns 950,000 shares of the company's stock valued at $16,958,000 after buying an additional 550,000 shares during the period. 45.18% of the stock is currently owned by institutional investors and hedge funds.
Mama's Creations Company Profile
(
Get Free Report)
Mama's Creations, Inc is a food company that develops, produces and distributes prepared foods, with a focus on convenient, heat-and-eat products inspired by Italian and other comfort-food recipes. The company is best known for its meatballs and related refrigerated and frozen offerings, including products made with beef, turkey, pork, chicken and plant-based ingredients.
Its portfolio also includes stuffed shells, sauces, entrées, soups and side dishes sold under the Mama's Creations and MamaMancini's brands, among others.
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