Mama's Creations, Inc. $MAMA Shares Purchased by CenterBook Partners LP

Key Points

• CenterBook Partners increased its Mama’s Creations stake by 152.8% in the third quarter, ending the period with 128,577 shares worth about $1.66 million. Other institutional investors also added shares; institutions and hedge funds own 45.18% of the stock.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $19.86. Recent ratings range from Buy to Hold, including Stephens’ $19 price target and DA Davidson’s revised $22 target.
• 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. Shares opened at $13.80, within a 52-week range of $9.91 to $21.00.

CenterBook Partners LP increased its position in Mama's Creations, Inc. (NASDAQ:MAMA - Free Report) by 152.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,577 shares of the company's stock after purchasing an additional 77,713 shares during the period. CenterBook Partners LP owned approximately 0.27% of Mama's Creations worth $1,657,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MAMA. Annex Advisory Services LLC increased its stake in Mama's Creations by 33.4% during the 3rd quarter. Annex Advisory Services LLC now owns 205,123 shares of the company's stock valued at $2,644,000 after purchasing an additional 51,397 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Mama's Creations by 39.2% in the third quarter. State of Alaska Department of Revenue now owns 6,571 shares of the company's stock worth $83,000 after buying an additional 1,851 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Mama's Creations in the second quarter worth approximately $221,000. Squarepoint Ops LLC lifted its stake in shares of Mama's Creations by 278.2% in the second quarter. Squarepoint Ops LLC now owns 138,301 shares of the company's stock worth $2,469,000 after buying an additional 101,736 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new stake in shares of Mama's Creations during the second quarter valued at approximately $183,000. 45.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Stephens began coverage on shares of Mama's Creations in a research report on Monday, October 26th. They set an "overweight" rating and a $19.00 price target for the company. William Blair started coverage on Mama's Creations in a research report on Friday, July 24th. They issued an "outperform" rating on the stock. DA Davidson cut their target price on Mama's Creations from $25.00 to $22.00 and set a "buy" rating on the stock in a research note on Friday, September 4th. Weiss Ratings downgraded Mama's Creations from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, October 14th. Finally, Zacks Research lowered Mama's Creations from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Mama's Creations currently has an average rating of "Moderate Buy" and an average price target of $19.86.

Insider Transactions at Mama's Creations

In other Mama's Creations news, CEO Adam Michaels sold 69,683 shares of Mama's Creations stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $13.31, for a total value of $927,480.73. Following the completion of the sale, the chief executive officer owned 722,719 shares of the company's stock, valued at approximately $9,619,389.89. The trade was a 8.79% decrease in their position. 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. Corporate insiders own 1.03% of the company's stock.

Mama's Creations Stock Performance

Shares of NASDAQ MAMA opened at $13.80 on Tuesday. The firm's 50-day moving average price is $13.57 and its 200-day moving average price is $15.41. Mama's Creations, Inc. has a 52-week low of $9.91 and a 52-week high of $21.00. The company has a market cap of $650.67 million, a PE ratio of 70.26 and a beta of 0.55. The company has a quick ratio of 6.48, a current ratio of 6.93 and a debt-to-equity ratio of 0.03.

Mama's Creations (NASDAQ:MAMA - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $54.58 million during the quarter, compared to analysts' expectations of $52.85 million. Mama's Creations had a net margin of 3.53% and a return on equity of 10.05%. As a group, analysts anticipate that Mama's Creations, Inc. will post 0.25 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.