Mama’s Creations (NASDAQ:MAMA) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Mama’s Creations (NASDAQ:MAMA) posted its quarterly earnings data on Monday. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02, FiscalAI reports. The company had revenue of $47.27 million for the quarter, compared to analysts’ expectations of $43.21 million. Mama’s Creations had a return on equity of 17.41% and a net margin of 3.34%.During the same period in the previous year, the firm posted $0.01 EPS.

Mama’s Creations Stock Down 2.5%

Shares of NASDAQ MAMA traded down $0.29 during mid-day trading on Monday, reaching $11.18. The company had a trading volume of 1,033,628 shares, compared to its average volume of 281,384. Mama’s Creations has a 52-week low of $5.50 and a 52-week high of $12.13. The stock has a market cap of $454.47 million, a P/E ratio of 101.65 and a beta of 0.79. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.05. The firm has a 50 day simple moving average of $10.76 and a two-hundred day simple moving average of $9.43.

Insider Activity at Mama’s Creations

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

Institutional Trading of Mama’s Creations

Hedge funds have recently modified their holdings of the business. Verition Fund Management LLC acquired a new position in shares of Mama’s Creations during the 3rd quarter worth approximately $105,000. Walleye Capital LLC purchased a new position in Mama’s Creations during the second quarter worth $87,000. Envestnet Asset Management Inc. acquired a new position in shares of Mama’s Creations in the third quarter worth $117,000. Prudential Financial Inc. acquired a new position in shares of Mama’s Creations in the second quarter worth $100,000. Finally, Sherbrooke Park Advisers LLC purchased a new stake in shares of Mama’s Creations in the third quarter valued at $160,000. 45.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MAMA shares. Lake Street Capital raised their price objective on Mama’s Creations from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, September 9th. Roth Capital lifted their price target on shares of Mama’s Creations from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. DA Davidson reissued a “buy” rating and issued a $18.00 price target on shares of Mama’s Creations in a research note on Tuesday, October 14th. Wall Street Zen lowered shares of Mama’s Creations from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Finally, Zacks Research downgraded shares of Mama’s Creations from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.25.

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.