Mama’s Creations (NASDAQ:MAMA) Upgraded to Strong-Buy at Stephens

Stephens upgraded shares of Mama’s Creations (NASDAQ:MAMA) to a strong-buy rating in a report published on Monday, MarketBeat reports.

Several other brokerages have also weighed in on MAMA. DA Davidson reduced their price objective on Mama’s Creations from $25.00 to $22.00 and set a “buy” rating for the company in a report on Friday, September 4th. Benchmark began coverage on Mama’s Creations in a research note on Tuesday, July 21st. They issued a “buy” rating and a $25.00 target price on the stock. Zacks Research cut Mama’s Creations from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Weiss Ratings downgraded Mama’s Creations from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 14th. Finally, Wall Street Zen downgraded Mama’s Creations from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $19.86.

Mama’s Creations Stock Up 5.8%

Shares of MAMA stock opened at $12.97 on Monday. Mama’s Creations has a 52 week low of $9.91 and a 52 week high of $21.00. The firm’s 50-day simple moving average is $14.16 and its two-hundred day simple moving average is $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 company had revenue of $54.58 million for the quarter, compared to analysts’ expectations of $52.85 million. Research analysts expect that Mama’s Creations will post 0.25 earnings per share for the current year.

Insider Transactions at Mama’s Creations

In other news, CEO Adam Michaels sold 69,683 shares of the company’s stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $13.31, for a total transaction of $927,480.73. Following the sale, the chief executive officer directly owned 722,719 shares in the company, valued at $9,619,389.89. This 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 this link. 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. Company insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On Mama’s Creations

A number of large investors have recently modified their holdings of MAMA. BlackRock Inc. purchased a new position in Mama’s Creations during the second quarter valued at approximately $42,473,000. Jupiter Topco LLC purchased a new stake in Mama’s Creations in the 2nd quarter worth approximately $23,880,000. Alyeska Investment Group L.P. lifted its stake in Mama’s Creations by 137.5% in the 2nd quarter. Alyeska Investment Group L.P. now owns 950,000 shares of the company’s stock worth $16,958,000 after purchasing an additional 550,000 shares in the last quarter. Park West Asset Management LLC purchased a new stake in Mama’s Creations in the 2nd quarter worth approximately $14,280,000. Finally, Bard Associates Inc. bought a new position in Mama’s Creations in the 2nd quarter valued at $12,073,000. 45.18% of the stock is currently owned by institutional investors.

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.