Evernest Financial Advisors LLC Reduces Stake in Mama's Creations, Inc. $MAMA

Key Points

• Evernest Financial Advisors LLC reduced its stake in Mama's Creations, Inc. by 56.7% during the second quarter, now owning 67,242 shares valued at approximately $558,000.
• Several institutional investors have increased their stakes in Mama's Creations, with Penn Capital Management boosting its position by 170.1% during the same period.
• Mama's Creations reported earnings of $0.03 EPS, surpassing analysts' expectations, with a revenue of $35.2 million for the quarter.

Evernest Financial Advisors LLC reduced its position in Mama's Creations, Inc. (NASDAQ:MAMA - Free Report) by 56.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,242 shares of the company's stock after selling 87,950 shares during the period. Evernest Financial Advisors LLC owned approximately 0.18% of Mama's Creations worth $558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of MAMA. Penn Capital Management Company LLC boosted its stake in shares of Mama's Creations by 170.1% in the 1st quarter. Penn Capital Management Company LLC now owns 332,948 shares of the company's stock worth $2,167,000 after buying an additional 209,680 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of Mama's Creations by 36.1% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 558,579 shares of the company's stock worth $3,636,000 after buying an additional 148,147 shares during the last quarter. Expect Equity LLC boosted its stake in shares of Mama's Creations by 49.8% in the 1st quarter. Expect Equity LLC now owns 283,224 shares of the company's stock worth $1,844,000 after buying an additional 94,117 shares during the last quarter. Aristides Capital LLC boosted its stake in shares of Mama's Creations by 70.1% in the 1st quarter. Aristides Capital LLC now owns 179,305 shares of the company's stock worth $1,167,000 after buying an additional 73,885 shares during the last quarter. Finally, VELA Investment Management LLC boosted its stake in shares of Mama's Creations by 17.2% in the 1st quarter. VELA Investment Management LLC now owns 476,353 shares of the company's stock worth $3,101,000 after buying an additional 69,749 shares during the last quarter. 45.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Mama's Creations

In other Mama's Creations news, CEO Adam Laurance Michaels sold 3,512 shares of the firm's stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $10.70, for a total transaction of $37,578.40. Following the sale, the chief executive officer directly owned 595,148 shares of the company's stock, valued at $6,368,083.60. This trade represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shirley Romig sold 4,000 shares of the firm's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $10.18, for a total value of $40,720.00. Following the sale, the director directly owned 17,139 shares in the company, valued at approximately $174,475.02. This represents a 18.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,732 shares of company stock worth $788,544. Insiders own 6.50% of the company's stock.

Mama's Creations Price Performance

NASDAQ:MAMA opened at $10.81 on Thursday. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.05. The business's 50-day simple moving average is $9.54 and its two-hundred day simple moving average is $8.30. The stock has a market cap of $437.81 million, a PE ratio of 98.28 and a beta of 0.67. Mama's Creations, Inc. has a 52 week low of $5.50 and a 52 week high of $11.49.

Mama's Creations (NASDAQ:MAMA - Get Free Report) last posted its quarterly earnings results on Monday, September 8th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.01. The business had revenue of $35.20 million for the quarter, compared to analysts' expectations of $33.18 million. Mama's Creations had a return on equity of 17.41% and a net margin of 3.34%.During the same period last year, the firm earned $0.03 earnings per share. As a group, analysts forecast that Mama's Creations, Inc. will post 0.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Lake Street Capital raised their target price on Mama's Creations from $11.00 to $15.00 and gave the stock a "buy" rating in a report on Tuesday, September 9th. Zacks Research cut Mama's Creations from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. Wall Street Zen cut Mama's Creations from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Mama's Creations in a report on Wednesday, October 8th. Finally, DA Davidson reaffirmed a "buy" rating and issued a $18.00 target price on shares of Mama's Creations in a report on Tuesday. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $14.25.

Mama's Creations Company Profile

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.

Want to see what other hedge funds are holding MAMA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mama's Creations, Inc. (NASDAQ:MAMA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.