Mama’s Creations (NASDAQ:MAMA) Stock Rated “Overweight” in New Coverage at Stephens

Equities researchers at Stephens assumed coverage on shares of Mama’s Creations (NASDAQ:MAMA) in a report issued on Monday, MarketBeat reports. The firm set an “overweight” rating on the stock.

A number of other equities analysts also recently issued reports on MAMA. Wall Street Zen downgraded Mama’s Creations from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. 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 research report on Friday, September 4th. Benchmark started coverage on Mama’s Creations in a report on Tuesday, July 21st. They set a “buy” rating and a $25.00 price target for the company. Weiss Ratings lowered Mama’s Creations from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 14th. Finally, William Blair started coverage on Mama’s Creations in a research report on Friday, July 24th. They set an “outperform” rating on the stock. Two equities research 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.com, the company presently has a consensus rating of “Buy” and a consensus target price of $19.86.

Mama’s Creations Price Performance

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 firm has a 50 day moving average of $14.16 and a two-hundred day moving average of $15.44.

Mama’s Creations (NASDAQ:MAMA) last posted its quarterly earnings results on Thursday, September 3rd. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. The business had revenue of $54.58 million during the quarter, compared to analysts’ expectations of $52.85 million. As a group, sell-side analysts predict that Mama’s Creations will post 0.25 earnings per share for the current year.

Insider Activity

In other news, CEO Adam Michaels sold 69,683 shares of Mama’s Creations stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $13.31, for a total transaction of $927,480.73. Following the sale, the chief executive officer owned 722,719 shares in the company, valued at $9,619,389.89. This trade represents a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.

Institutional Trading of Mama’s Creations

A number of hedge funds and other institutional investors have recently modified their holdings of MAMA. Persistent Asset Partners Ltd purchased a new stake in Mama’s Creations during the 2nd quarter worth approximately $59,000. Legal & General Group Plc bought a new position in Mama’s Creations during the 2nd quarter worth approximately $65,000. Group One Trading LLC bought a new stake in shares of Mama’s Creations in the 2nd quarter valued at approximately $81,000. State of Alaska Department of Revenue raised its position in shares of Mama’s Creations by 39.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 6,571 shares of the company’s stock valued at $83,000 after acquiring an additional 1,851 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in Mama’s Creations during the second quarter worth $180,000. 45.18% of the stock is owned by hedge funds and other 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.