Kornitzer Capital Management Inc. KS Takes $1.02 Million Position in Mama's Creations, Inc. $MAMA

Key Points

• Kornitzer Capital Management bought a new stake of 75,320 shares in Mama's Creations (≈$1.02 million), representing about 0.19% of the company at the end of the quarter.
• Mama's Creations reported Q result of $0.05 EPS (in line) and $53.99M revenue (above $52.64M estimate); the company has a $575.3M market cap, a P/E of 117.9, and a consensus analyst rating of Moderate Buy with a $18.80 average price target.
• CEO Adam Laurance Michaels sold 16,223 shares for $248,212 under a pre-arranged Rule 10b5-1 plan to cover taxes, reducing his stake by 2.28%; insiders own about 6.5% of the stock.

Kornitzer Capital Management Inc. KS purchased a new stake in Mama's Creations, Inc. (NASDAQ:MAMA - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 75,320 shares of the company's stock, valued at approximately $1,016,000. Kornitzer Capital Management Inc. KS owned about 0.19% of Mama's Creations at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. State of Alaska Department of Revenue acquired a new stake in shares of Mama's Creations in the fourth quarter valued at approximately $63,000. SG Americas Securities LLC acquired a new stake in shares of Mama's Creations in the fourth quarter valued at approximately $119,000. Verition Fund Management LLC acquired a new stake in shares of Mama's Creations in the third quarter valued at approximately $105,000. Walleye Capital LLC acquired a new stake in shares of Mama's Creations in the second quarter valued at approximately $87,000. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of Mama's Creations in the third quarter valued at approximately $117,000. 45.18% of the stock is currently owned by institutional investors and hedge funds.

Mama's Creations Stock Performance

Shares of MAMA opened at $14.15 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.71 and a current ratio of 2.17. The company has a market capitalization of $575.34 million, a price-to-earnings ratio of 117.92 and a beta of 0.64. The company's 50 day simple moving average is $15.46 and its 200 day simple moving average is $13.72. Mama's Creations, Inc. has a 1 year low of $6.37 and a 1 year high of $17.85.

Mama's Creations (NASDAQ:MAMA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 14th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. The business had revenue of $53.99 million for the quarter, compared to the consensus estimate of $52.64 million. Mama's Creations had a net margin of 3.06% and a return on equity of 15.31%. On average, sell-side analysts predict that Mama's Creations, Inc. will post 0.25 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Weiss Ratings raised shares of Mama's Creations from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, March 13th. Zacks Research downgraded shares of Mama's Creations from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. DA Davidson upped their price objective on shares of Mama's Creations to $25.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Finally, Wall Street Zen downgraded shares of Mama's Creations from a "buy" rating to a "hold" rating in a research note on Saturday. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Mama's Creations has an average rating of "Moderate Buy" and a consensus price target of $18.80.

Insiders Place Their Bets

In other Mama's Creations news, CEO Adam Laurance Michaels sold 16,223 shares of the stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $15.30, for a total transaction of $248,211.90. Following the transaction, the chief executive officer owned 695,288 shares of the company's stock, valued at $10,637,906.40. This trade represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 6.50% of the stock is currently owned by corporate insiders.

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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