VELA Investment Management LLC Sells 136,627 Shares of Mama's Creations, Inc. $MAMA

Key Points

• VELA Investment Management LLC has reduced its stake in Mama's Creations by 28.7%, selling 136,627 shares and retaining ownership of 339,726 shares valued at approximately $2.82 million.
• Analysts have mixed views on the stock, with Lake Street Capital raising its price target to $15.00 while Wall Street Zen downgraded it from a "buy" to a "hold" rating.
• Mama's Creations reported a quarterly earnings increase, with earnings per share at $0.03 and revenue of $35.20 million, exceeding analyst expectations.

VELA Investment Management LLC cut its stake in Mama's Creations, Inc. (NASDAQ:MAMA - Free Report) by 28.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 339,726 shares of the company's stock after selling 136,627 shares during the period. VELA Investment Management LLC owned 0.90% of Mama's Creations worth $2,820,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of MAMA. Penn Capital Management Company LLC raised its stake in shares of Mama's Creations by 170.1% during the first quarter. Penn Capital Management Company LLC now owns 332,948 shares of the company's stock worth $2,167,000 after buying an additional 209,680 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of Mama's Creations by 36.1% during the first quarter. Diamond Hill Capital Management Inc. now owns 558,579 shares of the company's stock worth $3,636,000 after buying an additional 148,147 shares during the last quarter. Expect Equity LLC raised its stake in shares of Mama's Creations by 49.8% during the first quarter. Expect Equity LLC now owns 283,224 shares of the company's stock worth $1,844,000 after buying an additional 94,117 shares during the last quarter. Aristides Capital LLC raised its stake in shares of Mama's Creations by 70.1% during the first quarter. Aristides Capital LLC now owns 179,305 shares of the company's stock worth $1,167,000 after buying an additional 73,885 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of Mama's Creations during the first quarter worth approximately $388,000. 45.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Lake Street Capital boosted their price target on shares of Mama's Creations from $11.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday, September 9th. DA Davidson reissued a "buy" rating and set a $18.00 price target on shares of Mama's Creations in a research note on Tuesday. Wall Street Zen downgraded shares of Mama's Creations from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Roth Capital boosted their price target on shares of Mama's Creations from $10.00 to $13.00 and gave the stock a "buy" rating in a research note on Tuesday, September 9th. Finally, Zacks Research downgraded shares of Mama's Creations from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Mama's Creations presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.25.

Insider Activity

In other news, Director Shirley Romig sold 4,000 shares of the company's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $10.18, for a total value of $40,720.00. Following the completion of the transaction, the director owned 17,139 shares in the company, valued at $174,475.02. This represents a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam Laurance Michaels sold 65,220 shares of the company's stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $10.89, for a total transaction of $710,245.80. Following the completion of the transaction, the chief executive officer owned 598,660 shares of the company's stock, valued at $6,519,407.40. This trade represents a 9.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,732 shares of company stock worth $788,544 in the last quarter. 6.50% of the stock is currently owned by company insiders.

Mama's Creations Stock Down 0.6%

Shares of NASDAQ:MAMA opened at $10.75 on Friday. Mama's Creations, Inc. has a 52 week low of $5.50 and a 52 week high of $11.49. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.15 and a current ratio of 1.58. The company has a market capitalization of $435.38 million, a PE ratio of 97.74 and a beta of 0.67. The company has a 50 day moving average price of $9.59 and a two-hundred day moving average price of $8.33.

Mama's Creations (NASDAQ:MAMA - Get Free Report) last released its quarterly earnings data on Monday, September 8th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. Mama's Creations had a return on equity of 17.41% and a net margin of 3.34%.The business had revenue of $35.20 million for the quarter, compared to analysts' expectations of $33.18 million. During the same quarter in the previous year, the business posted $0.03 EPS. Analysts forecast that Mama's Creations, Inc. will post 0.09 earnings per share for the current year.

Mama's Creations Company 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.

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