Mama’s Creations (NASDAQ:MAMA) Trading 6.1% Higher – Here’s What Happened
by Tristan Rich · The Markets DailyShares of Mama’s Creations, Inc. (NASDAQ:MAMA – Get Free Report) were up 6.1% during mid-day trading on Wednesday . The stock traded as high as $13.92 and last traded at $13.9460. Approximately 281,159 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 526,818 shares. The stock had previously closed at $13.14.
Analysts Set New Price Targets
A number of research firms have commented on MAMA. Weiss Ratings upgraded Mama’s Creations from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, September 3rd. William Blair started coverage on Mama’s Creations in a research report on Friday, July 24th. They set an “outperform” rating for the company. Lake Street Capital reissued a “buy” rating and set a $22.00 target price on shares of Mama’s Creations in a report on Friday, September 4th. Wall Street Zen cut Mama’s Creations from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Benchmark began coverage on shares of Mama’s Creations in a research note on Tuesday, July 21st. They set a “buy” rating and a $25.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $20.00.
Check Out Our Latest Research Report on MAMA
Mama’s Creations Stock Performance
The company has a 50 day moving average price of $16.79 and a 200-day moving average price of $16.02. The company has a current ratio of 6.93, a quick ratio of 6.48 and a debt-to-equity ratio of 0.03. The company has a market cap of $618.10 million, a P/E ratio of 77.12 and a beta of 0.56.
Mama’s Creations (NASDAQ:MAMA – Get Free Report) last announced its quarterly earnings data on Thursday, September 3rd. The company reported $0.06 earnings per share 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. Mama’s Creations had a return on equity of 10.05% and a net margin of 3.53%. On average, equities analysts expect that Mama’s Creations, Inc. will post 0.25 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Mama’s Creations
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Persistent Asset Partners Ltd acquired a new stake in Mama’s Creations in the second quarter valued at approximately $59,000. Legal & General Group Plc bought a new position in shares of Mama’s Creations in the 2nd quarter valued at $65,000. Grandeur Peak Global Advisors LLC boosted its holdings in shares of Mama’s Creations by 4.5% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 88,406 shares of the company’s stock valued at $1,578,000 after acquiring an additional 3,798 shares in the last quarter. Group One Trading LLC bought a new position in Mama’s Creations in the second quarter valued at about $81,000. Finally, Granite Investment Partners LLC boosted its stake in shares of Mama’s Creations by 38.4% during the first quarter. Granite Investment Partners LLC now owns 21,167 shares of the company’s stock valued at $325,000 after purchasing an additional 5,872 shares in the last quarter. 45.18% of the stock is owned by institutional investors.
About Mama’s Creations
Mama’s Creations, Inc is a food company that develops, produces and distributes prepared foods, with a focus on convenient, heat-and-eat products inspired by Italian and other comfort-food recipes. The company is best known for its meatballs and related refrigerated and frozen offerings, including products made with beef, turkey, pork, chicken and plant-based ingredients.
Its portfolio also includes stuffed shells, sauces, entrées, soups and side dishes sold under the Mama’s Creations and MamaMancini’s brands, among others.