Mama's Creations, Inc. $MAMA Shares Newly Acquired by Summit Creek Advisors LLC

Key Points

• Summit Creek Advisors opened a position in Mama’s Creations, buying 192,577 shares valued at about $2.48 million, or roughly 0.41% of the company. Institutional investors collectively own 45.18% of the stock.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $19.86; recent targets include cuts to $22 from DA Davidson and Lake Street Capital.
• Mama’s Creations beat quarterly estimates, reporting EPS of $0.06 versus $0.05 expected and revenue of $54.58 million versus $52.85 million expected. CEO Adam Michaels sold 69,683 shares under a pre-arranged plan to cover tax withholding on vested equity awards.

Summit Creek Advisors LLC acquired a new stake in Mama's Creations, Inc. (NASDAQ:MAMA - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 192,577 shares of the company's stock, valued at approximately $2,482,000. Summit Creek Advisors LLC owned approximately 0.41% of Mama's Creations as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Persistent Asset Partners Ltd purchased a new stake in shares of Mama's Creations during the second quarter worth about $59,000. Legal & General Group Plc purchased a new position in Mama's Creations in the 2nd quarter worth approximately $65,000. Group One Trading LLC purchased a new position in Mama's Creations in the 2nd quarter worth approximately $81,000. State of Alaska Department of Revenue lifted its holdings in Mama's Creations by 39.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 6,571 shares of the company's stock worth $83,000 after purchasing an additional 1,851 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in Mama's Creations in the 2nd quarter worth approximately $180,000. 45.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MAMA shares. Wall Street Zen lowered shares of Mama's Creations from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. DA Davidson lowered their target price on shares of Mama's Creations from $25.00 to $22.00 and set a "buy" rating on the stock in a report on Friday, September 4th. Benchmark started coverage on shares of Mama's Creations in a research report on Tuesday, July 21st. They set a "buy" rating and a $25.00 target price for the company. William Blair started coverage on shares of Mama's Creations in a research note on Friday, July 24th. They set an "outperform" rating for the company. Finally, Lake Street Capital reaffirmed a "buy" rating and set a $22.00 target price on shares of Mama's Creations in a research note on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Mama's Creations presently has an average rating of "Moderate Buy" and a consensus target price of $19.86.

Mama's Creations Price Performance

NASDAQ:MAMA opened at $13.40 on Friday. The business's 50-day moving average is $13.62 and its 200 day moving average is $15.42. Mama's Creations, Inc. has a 12 month low of $9.91 and a 12 month high of $21.00. The company has a market capitalization of $631.81 million, a P/E ratio of 78.82 and a beta of 0.55. The company has a current ratio of 6.93, a quick ratio of 6.48 and a debt-to-equity ratio of 0.03.

Mama's Creations (NASDAQ:MAMA - Get Free Report) last released its quarterly earnings results on Thursday, September 3rd. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. Mama's Creations had a return on equity of 10.05% and a net margin of 3.53%. The business had revenue of $54.58 million during the quarter, compared to analysts' expectations of $52.85 million. On average, equities research analysts forecast that Mama's Creations, Inc. will post 0.25 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Adam Michaels sold 69,683 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $13.31, for a total transaction of $927,480.73. Following the completion of the transaction, the chief executive officer directly owned 722,719 shares in the company, valued at approximately $9,619,389.89. This represents a 8.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. 1.03% of the stock is owned by company insiders.

Mama's Creations Company Profile

Mama's Creations, Inc is a food company that develops, produces and distributes prepared foods for retail and foodservice customers. The company focuses on convenient, ready-to-eat and ready-to-heat products sold primarily through grocery stores and other food retailers.

Its product portfolio includes meatballs, stuffed pasta and other Italian-style specialties, as well as prepared entrees, deli salads, antipasti and related refrigerated and frozen foods. Products are marketed under the Mama's Creations brand and are designed to provide convenient meal and entertaining options.

Formerly known as MamaMancini's Holdings, Inc, the company serves customers primarily in the United States through retail, club-store, foodservice and e-commerce channels.

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