BlackRock Inc. Purchases New Holdings in Mama's Creations, Inc. $MAMA

Key Points

• BlackRock purchased 2.38 million shares of Mama’s Creations in the second quarter, worth approximately $42.5 million and representing about 5.81% of the company. Institutional investors collectively own 45.18% of the stock.
• Mama’s Creations reported quarterly revenue of $52.77 million and earnings of $0.05 per share, exceeding analyst expectations of $51.63 million and $0.03 per share, respectively.
• The stock recently traded at $16.23, while analysts maintained a “Moderate Buy” consensus with an average price target of $19.83; ratings were mixed, including several downgrades to “Hold” and new “Buy” or “Outperform” coverage.

BlackRock Inc. bought a new position in shares of Mama's Creations, Inc. (NASDAQ:MAMA - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,379,451 shares of the company's stock, valued at approximately $42,473,000. BlackRock Inc. owned about 5.81% of Mama's Creations as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MAMA. Creative Planning bought a new stake in shares of Mama's Creations during the 2nd quarter valued at $141,000. Rhumbline Advisers raised its position in shares of Mama's Creations by 4.8% during the second quarter. Rhumbline Advisers now owns 46,824 shares of the company's stock worth $389,000 after purchasing an additional 2,125 shares during the period. American Century Companies Inc. lifted its stake in Mama's Creations by 1.6% in the second quarter. American Century Companies Inc. now owns 89,062 shares of the company's stock valued at $739,000 after buying an additional 1,375 shares in the last quarter. Prudential Financial Inc. bought a new stake in Mama's Creations in the 2nd quarter valued at $100,000. Finally, Quantbot Technologies LP bought a new stake in shares of Mama's Creations in the second quarter valued at about $136,000. 45.18% of the stock is owned by institutional investors.

Mama's Creations Trading Down 0.9%

Shares of Mama's Creations stock opened at $16.23 on Tuesday. The stock has a market cap of $664.46 million, a P/E ratio of 115.93 and a beta of 0.56. The company has a quick ratio of 1.90, a current ratio of 2.32 and a debt-to-equity ratio of 0.09. Mama's Creations, Inc. has a 12-month low of $7.89 and a 12-month high of $21.00. The business's 50 day moving average is $17.83 and its 200-day moving average is $16.11.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MAMA shares. Wall Street Zen cut shares of Mama's Creations from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Zacks Research cut shares of Mama's Creations from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 28th. Benchmark started coverage on shares of Mama's Creations in a research report on Tuesday, July 21st. They issued a "buy" rating and a $25.00 target price for the company. Weiss Ratings lowered shares of Mama's Creations from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, August 19th. Finally, William Blair assumed coverage on shares of Mama's Creations in a research report on Friday, July 24th. They set an "outperform" rating on the stock. One equities research analyst has 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.83.

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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