Diamond Hill Capital Management Inc. Purchases 148,147 Shares of Mama's Creations, Inc. (NASDAQ:MAMA)

Key Points

• Diamond Hill Capital Management Inc. increased its stake in Mama's Creations by 36.1%, acquiring an additional 148,147 shares, bringing its total holdings to 558,579 shares valued at approximately $3.6 million.
• The company recently reported quarterly earnings of $0.03 EPS, surpassing analysts' expectations of $0.02, with revenues of $35.3 million against estimates of $32.74 million.
• Roth Capital has upgraded its target price for Mama's Creations shares to $10.00, maintaining a "buy" rating as Wall Street analysts forecast growth for the company.

Diamond Hill Capital Management Inc. boosted its stake in Mama's Creations, Inc. (NASDAQ:MAMA - Free Report) by 36.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 558,579 shares of the company's stock after acquiring an additional 148,147 shares during the period. Diamond Hill Capital Management Inc. owned about 1.49% of Mama's Creations worth $3,636,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MAMA. Legato Capital Management LLC purchased a new position in shares of Mama's Creations in the first quarter worth approximately $71,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Mama's Creations during the 1st quarter worth about $116,000. Trail Ridge Investment Advisors LLC lifted its holdings in Mama's Creations by 4.3% in the 1st quarter. Trail Ridge Investment Advisors LLC now owns 74,647 shares of the company's stock worth $486,000 after buying an additional 3,098 shares during the period. VELA Investment Management LLC boosted its holdings in Mama's Creations by 17.2% in the first quarter. VELA Investment Management LLC now owns 476,353 shares of the company's stock worth $3,101,000 after acquiring an additional 69,749 shares in the last quarter. Finally, Conestoga Capital Advisors LLC boosted its stake in shares of Mama's Creations by 18.4% in the first quarter. Conestoga Capital Advisors LLC now owns 229,140 shares of the company's stock worth $1,492,000 after acquiring an additional 35,590 shares during the period. 45.18% of the stock is currently owned by institutional investors and hedge funds.

Mama's Creations Trading Down 1.1%

Shares of NASDAQ MAMA traded down $0.10 during trading on Friday, hitting $9.03. 190,189 shares of the company traded hands, compared to its average volume of 230,867. Mama's Creations, Inc. has a 1 year low of $5.50 and a 1 year high of $9.98. The company has a 50-day moving average price of $8.33 and a 200-day moving average price of $7.30. The firm has a market capitalization of $339.63 million, a P/E ratio of 82.10 and a beta of 0.69. The company has a quick ratio of 1.01, a current ratio of 1.29 and a debt-to-equity ratio of 0.07.

Mama's Creations (NASDAQ:MAMA - Get Free Report) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported $0.03 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.01. Mama's Creations had a net margin of 3.41% and a return on equity of 18.19%. The firm had revenue of $35.30 million during the quarter, compared to analyst estimates of $32.74 million. On average, equities analysts predict that Mama's Creations, Inc. will post 0.09 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Roth Capital restated a "buy" rating and issued a $10.00 target price (up previously from $9.00) on shares of Mama's Creations in a research note on Wednesday, June 4th.

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.