Mama’s Creations (NASDAQ:MAMA) Shares Gap Down – Here’s Why

Shares of Mama’s Creations, Inc. (NASDAQ:MAMA) gapped down before the market opened on Tuesday . The stock had previously closed at $20.65, but opened at $17.80. Mama’s Creations shares last traded at $17.6410, with a volume of 415,286 shares.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Wall Street Zen upgraded Mama’s Creations from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Zacks Research lowered Mama’s Creations from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. DA Davidson reaffirmed a “buy” rating and set a $25.00 price target on shares of Mama’s Creations in a research report on Wednesday, May 20th. Finally, Weiss Ratings downgraded Mama’s Creations from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, June 5th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.80.

Mama’s Creations Trading Down 11.9%

The firm has a 50-day simple moving average of $15.13 and a 200-day simple moving average of $14.99. The company has a quick ratio of 1.90, a current ratio of 2.32 and a debt-to-equity ratio of 0.09. The stock has a market cap of $740.91 million, a PE ratio of 130.01 and a beta of 0.60.

Mama’s Creations (NASDAQ:MAMA) last announced its quarterly earnings results on Monday, June 8th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. The company had revenue of $52.77 million during the quarter, compared to analysts’ expectations of $51.63 million. Mama’s Creations had a return on equity of 14.69% and a net margin of 3.21%.During the same period in the previous year, the business earned $0.03 earnings per share. Equities analysts forecast that Mama’s Creations, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at Mama’s Creations

In other news, CEO Adam Laurance Michaels sold 16,223 shares of the stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $15.30, for a total value of $248,211.90. Following the sale, the chief executive officer directly owned 695,288 shares of the company’s stock, valued at approximately $10,637,906.40. This represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through 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 currently owned by corporate insiders.

Hedge Funds Weigh In On Mama’s Creations

A number of institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its position in shares of Mama’s Creations by 14.2% in the first quarter. Royal Bank of Canada now owns 49,018 shares of the company’s stock worth $751,000 after purchasing an additional 6,094 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Mama’s Creations by 5.7% during the 1st quarter. Renaissance Technologies LLC now owns 360,600 shares of the company’s stock valued at $5,532,000 after purchasing an additional 19,300 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Mama’s Creations during the 1st quarter worth approximately $296,000. Bank of Nova Scotia purchased a new position in Mama’s Creations in the 1st quarter worth approximately $304,000. Finally, Sei Investments Co. lifted its position in Mama’s Creations by 97.5% in the first quarter. Sei Investments Co. now owns 314,640 shares of the company’s stock valued at $4,827,000 after purchasing an additional 155,367 shares during the last quarter. 45.18% of the stock is currently owned by institutional investors.

About Mama’s Creations

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. Its brands include MamaMancini’s, Creative Salads, and The Olive Branch. The company was founded by Daniel Dougherty on July 22, 2009 and is headquartered in East Rutherford, NJ.