VELA Investment Management LLC Acquires 69,749 Shares of Mama's Creations, Inc. (NASDAQ:MAMA)

VELA Investment Management LLC raised its stake in Mama's Creations, Inc. (NASDAQ:MAMA - Free Report) by 17.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 476,353 shares of the company's stock after acquiring an additional 69,749 shares during the quarter. Mama's Creations makes up approximately 1.0% of VELA Investment Management LLC's investment portfolio, making the stock its 29th largest position. VELA Investment Management LLC owned 1.27% of Mama's Creations worth $3,101,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MAMA. Principal Financial Group Inc. increased its stake in shares of Mama's Creations by 9.1% in the fourth quarter. Principal Financial Group Inc. now owns 22,785 shares of the company's stock valued at $181,000 after buying an additional 1,896 shares during the period. Bank of America Corp DE grew its position in shares of Mama's Creations by 32.1% during the 4th quarter. Bank of America Corp DE now owns 33,882 shares of the company's stock worth $270,000 after buying an additional 8,242 shares during the period. Rhumbline Advisers lifted its holdings in shares of Mama's Creations by 5.0% in the 1st quarter. Rhumbline Advisers now owns 44,699 shares of the company's stock worth $291,000 after purchasing an additional 2,146 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Mama's Creations by 3,085.4% in the 4th quarter. Deutsche Bank AG now owns 26,407 shares of the company's stock worth $210,000 after purchasing an additional 25,578 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Mama's Creations in the 4th quarter worth $1,333,000. Institutional investors own 45.18% of the company's stock.

Mama's Creations Stock Performance

MAMA traded up $0.35 during trading hours on Tuesday, hitting $8.94. The stock had a trading volume of 212,633 shares, compared to its average volume of 311,778. The company's fifty day simple moving average is $7.69 and its 200 day simple moving average is $7.17. Mama's Creations, Inc. has a 1 year low of $5.50 and a 1 year high of $9.98. The stock has a market cap of $336.23 million, a PE ratio of 81.28 and a beta of 0.69. The company has a quick ratio of 1.01, a current ratio of 1.29 and a debt-to-equity ratio of 0.07.

Mama's Creations (NASDAQ:MAMA - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. The company had revenue of $35.30 million during the quarter, compared to analyst estimates of $32.74 million. Mama's Creations had a return on equity of 18.19% and a net margin of 3.41%. Equities analysts anticipate that Mama's Creations, Inc. will post 0.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Roth Capital restated a "buy" rating and set a $10.00 price objective (up from $9.00) on shares of Mama's Creations in a research note on Wednesday, June 4th.

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.