Mama’s Creations (NASDAQ:MAMA) Now Covered by Stephens

Stephens began coverage on shares of Mama’s Creations (NASDAQ:MAMA) in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The brokerage set an “overweight” rating on the stock.

Several other brokerages also recently weighed in on MAMA. DA Davidson lowered their price target on shares of Mama’s Creations from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, September 4th. Zacks Research downgraded shares of Mama’s Creations from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. William Blair began coverage on shares of Mama’s Creations in a report on Friday, July 24th. They set an “outperform” rating on the stock. Weiss Ratings downgraded Mama’s Creations from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 14th. Finally, Wall Street Zen lowered Mama’s Creations from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $19.86.

Mama’s Creations Stock Up 5.8%

NASDAQ:MAMA opened at $12.97 on Monday. Mama’s Creations has a 12 month low of $9.91 and a 12 month high of $21.00. The company has a 50-day moving average price of $14.16 and a 200-day moving average price of $15.44.

Mama’s Creations (NASDAQ:MAMA) last issued its quarterly earnings results on Thursday, September 3rd. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. The business had revenue of $54.58 million during the quarter, compared to the consensus estimate of $52.85 million. Research analysts forecast that Mama’s Creations will post 0.25 earnings per share for the current year.

Insider Activity at Mama’s Creations

In related news, CEO Adam Michaels sold 69,683 shares of the business’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $13.31, for a total value of $927,480.73. Following the completion of the transaction, the chief executive officer directly owned 722,719 shares in the company, valued at $9,619,389.89. The trade was a 8.79% decrease in their position. The transaction was disclosed in a document filed 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. 1.03% of the stock is owned by insiders.

Hedge Funds Weigh In On Mama’s Creations

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Persistent Asset Partners Ltd purchased a new stake in Mama’s Creations during the 2nd quarter valued at about $59,000. Legal & General Group Plc acquired a new stake in shares of Mama’s Creations during the 2nd quarter worth about $65,000. Group One Trading LLC purchased a new stake in shares of Mama’s Creations in the 2nd quarter valued at approximately $81,000. State of Alaska Department of Revenue lifted its stake in Mama’s Creations by 39.2% during the third quarter. State of Alaska Department of Revenue now owns 6,571 shares of the company’s stock worth $83,000 after purchasing an additional 1,851 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Mama’s Creations during the 2nd quarter worth about $180,000. Hedge funds and other institutional investors own 45.18% of the company’s stock.

Mama’s Creations Company Profile

Mama’s Creations, Inc is a food company that develops, produces and distributes prepared foods for retail and foodservice customers. The company focuses on convenient, ready-to-eat and ready-to-heat products sold primarily through grocery stores and other food retailers.

Its product portfolio includes meatballs, stuffed pasta and other Italian-style specialties, as well as prepared entrees, deli salads, antipasti and related refrigerated and frozen foods. Products are marketed under the Mama’s Creations brand and are designed to provide convenient meal and entertaining options.

Formerly known as MamaMancini’s Holdings, Inc, the company serves customers primarily in the United States through retail, club-store, foodservice and e-commerce channels.