Squarepoint Ops LLC Boosts Holdings in Mama's Creations, Inc. $MAMA

Key Points

• Squarepoint Ops increased its Mama’s Creations stake by 278.2% in the second quarter, reaching 138,301 shares valued at approximately $2.47 million. Several other major institutions initiated positions, bringing institutional ownership to 45.18%.
• Mama’s Creations exceeded quarterly expectations, reporting $0.06 in EPS versus the $0.05 consensus and revenue of $54.58 million compared with estimates of $52.85 million.
• Analyst sentiment remains positive, with a consensus “Buy” rating and a $20.00 target price, although one firm downgraded the stock to “Hold” and others lowered their price targets.

Squarepoint Ops LLC lifted its stake in shares of Mama's Creations, Inc. (NASDAQ:MAMA - Free Report) by 278.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 138,301 shares of the company's stock after purchasing an additional 101,736 shares during the period. Squarepoint Ops LLC owned 0.34% of Mama's Creations worth $2,469,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Mama's Creations in the 2nd quarter worth approximately $42,473,000. Jupiter Topco LLC bought a new stake in shares of Mama's Creations during the 2nd quarter worth $23,880,000. Park West Asset Management LLC bought a new position in Mama's Creations in the second quarter valued at $14,280,000. Bard Associates Inc. purchased a new stake in Mama's Creations during the second quarter valued at about $12,073,000. Finally, Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in Mama's Creations during the second quarter valued at about $10,860,000. Institutional investors own 45.18% of the company's stock.

Mama's Creations Trading Up 1.1%

NASDAQ:MAMA opened at $14.88 on Tuesday. The company has a 50-day moving average price of $17.08 and a 200-day moving average price of $16.09. The company has a current ratio of 6.93, a quick ratio of 6.48 and a debt-to-equity ratio of 0.03. The stock has a market cap of $701.55 million, a price-to-earnings ratio of 87.53 and a beta of 0.56. Mama's Creations, Inc. has a 12 month low of $9.23 and a 12 month high of $21.00.

Mama's Creations (NASDAQ:MAMA - Get Free Report) last released its earnings results on Thursday, September 3rd. The company reported $0.06 earnings per share (EPS) 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 analyst estimates of $52.85 million. Mama's Creations had a net margin of 3.53% and a return on equity of 10.05%. Equities analysts predict that Mama's Creations, Inc. will post 0.25 EPS for the current year.

Analyst Ratings Changes

MAMA has been the topic of several recent research reports. Zacks Research lowered Mama's Creations from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 28th. Weiss Ratings upgraded shares of Mama's Creations from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, September 3rd. Lake Street Capital reissued a "buy" rating and issued a $22.00 price target on shares of Mama's Creations in a research note on Friday, September 4th. DA Davidson reduced their price objective 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. Finally, Benchmark initiated coverage on Mama's Creations in a report on Tuesday, July 21st. They issued a "buy" rating and a $25.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $20.00.

Mama's Creations Company Profile

Mama's Creations, Inc is a food company that develops, produces and distributes prepared foods, with a focus on convenient, heat-and-eat products inspired by Italian and other comfort-food recipes. The company is best known for its meatballs and related refrigerated and frozen offerings, including products made with beef, turkey, pork, chicken and plant-based ingredients.

Its portfolio also includes stuffed shells, sauces, entrées, soups and side dishes sold under the Mama's Creations and MamaMancini's brands, among others.

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