Bard Associates Inc. Takes Position in Mama's Creations, Inc. $MAMA

Key Points

• Bard Associates acquired 676,338 shares of Mama’s Creations during the second quarter, worth approximately $12.1 million and representing a 1.65% stake. The investment is now the firm’s eighth-largest holding and comprises 2.7% of its portfolio.
• Institutional ownership stands at 45.18%, with several other funds also initiating positions. Analyst sentiment remains a “Moderate Buy,” with an average price target of $19.83, despite recent downgrades to “Hold” from some research firms.
• Mama’s Creations exceeded quarterly expectations, reporting $0.05 in adjusted EPS versus the $0.03 consensus and revenue of $52.77 million versus estimates of $51.63 million. Shares opened at $16.44, up 2.8%, with a reported 52-week range of $7.89 to $21.00.

Bard Associates Inc. acquired a new stake in Mama's Creations, Inc. (NASDAQ:MAMA - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 676,338 shares of the company's stock, valued at approximately $12,073,000. Mama's Creations makes up 2.7% of Bard Associates Inc.'s portfolio, making the stock its 8th largest holding. Bard Associates Inc. owned 1.65% of Mama's Creations at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MAMA. Persistent Asset Partners Ltd acquired a new position in Mama's Creations during the second quarter valued at approximately $59,000. State of Alaska Department of Revenue acquired a new position in Mama's Creations during the 4th quarter worth $63,000. Walleye Capital LLC bought a new stake in Mama's Creations during the second quarter valued at about $87,000. Prudential Financial Inc. bought a new stake in Mama's Creations during the second quarter valued at about $100,000. Finally, Verition Fund Management LLC bought a new stake in Mama's Creations during the third quarter valued at about $105,000. 45.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on MAMA. Benchmark started coverage on Mama's Creations in a research note on Tuesday, July 21st. They issued a "buy" rating and a $25.00 price objective on the stock. Weiss Ratings downgraded Mama's Creations from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday. Zacks Research lowered Mama's Creations from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 28th. DA Davidson reaffirmed a "buy" rating and issued a $25.00 price target on shares of Mama's Creations in a research report on Monday, July 13th. Finally, Wall Street Zen downgraded Mama's Creations from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $19.83.

Mama's Creations Stock Up 2.8%

Shares of MAMA opened at $16.44 on Friday. The company has a market capitalization of $673.05 million, a P/E ratio of 117.43 and a beta of 0.56. Mama's Creations, Inc. has a one year low of $7.89 and a one year high of $21.00. The business's 50 day simple moving average is $17.85 and its 200-day simple moving average is $16.07. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.32 and a quick ratio of 1.90.

Mama's Creations (NASDAQ:MAMA - Get Free Report) last announced its earnings results on Monday, June 8th. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.02. Mama's Creations had a return on equity of 14.69% and a net margin of 3.21%.The company had revenue of $52.77 million during the quarter, compared to analyst estimates of $51.63 million. During the same period last year, the company posted $0.03 earnings per share. As a group, sell-side analysts predict that Mama's Creations, Inc. will post 0.24 EPS for the current fiscal year.

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.

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