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

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

A number of other institutional investors and hedge funds also recently modified their holdings of MAMA. BNP Paribas Financial Markets bought a new stake in shares of Mama's Creations in the 4th quarter valued at about $68,000. Price T Rowe Associates Inc. MD increased its stake in shares of Mama's Creations by 19.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,622 shares of the company's stock valued at $101,000 after acquiring an additional 2,073 shares during the last quarter. PEAK6 LLC bought a new stake in shares of Mama's Creations in the 4th quarter valued at about $137,000. Tocqueville Asset Management L.P. acquired a new position in shares of Mama's Creations in the 4th quarter valued at approximately $141,000. Finally, Sharpepoint LLC acquired a new position in shares of Mama's Creations in the 4th quarter valued at approximately $147,000. 45.18% of the stock is owned by institutional investors.

Mama's Creations Trading Up 4.1%

Shares of Mama's Creations stock traded up $0.35 on Tuesday, reaching $8.94. 212,632 shares of the company's stock were exchanged, compared to its average volume of 312,996. The company has a market capitalization of $336.23 million, a P/E ratio of 81.28 and a beta of 0.69. Mama's Creations, Inc. has a 52 week low of $5.50 and a 52 week high of $9.98. The firm's 50-day moving average is $7.64 and its two-hundred day moving average is $7.16. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.01 and a current ratio of 1.29.

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

Wall Street Analyst Weigh In

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

Mama's Creations Profile

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.