VELA Investment Management LLC Sells 83,174 Shares of Mama's Creations, Inc. $MAMA

Key Points

• VELA Investment Management cut its position in Mama's Creations by 26.9%, selling 83,174 shares and leaving 226,551 shares (about 0.56% of the company) worth roughly $3.06 million.
• Analyst sentiment is mixed but the consensus is a Moderate Buy with a $18.80 average price target; five analysts rate the stock Buy and one rates it Hold, while DA Davidson raised its target to $25.00.
• CEO Adam Laurance Michaels sold 16,223 shares under a pre-arranged Rule 10b5-1 plan to cover tax withholding (a 2.28% reduction), and company insiders collectively own 6.5% of the stock.

VELA Investment Management LLC lowered its position in Mama's Creations, Inc. (NASDAQ:MAMA - Free Report) by 26.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 226,551 shares of the company's stock after selling 83,174 shares during the quarter. VELA Investment Management LLC owned approximately 0.56% of Mama's Creations worth $3,056,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MAMA. State of Alaska Department of Revenue bought a new position in Mama's Creations in the fourth quarter worth approximately $63,000. Walleye Capital LLC bought a new stake in Mama's Creations during the 2nd quarter valued at $87,000. Prudential Financial Inc. bought a new stake in Mama's Creations during the 2nd quarter valued at $100,000. Verition Fund Management LLC bought a new stake in Mama's Creations during the 3rd quarter valued at $105,000. Finally, Envestnet Asset Management Inc. bought a new stake in Mama's Creations during the 3rd quarter valued at $117,000. Institutional investors own 45.18% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on MAMA. Weiss Ratings raised Mama's Creations from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, March 13th. Zacks Research lowered Mama's Creations from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Wall Street Zen lowered Mama's Creations from a "buy" rating to a "hold" rating in a report on Saturday. Finally, DA Davidson increased their price objective on Mama's Creations to $25.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $18.80.

Mama's Creations Stock Performance

Shares of MAMA stock opened at $14.15 on Friday. The firm has a market capitalization of $575.34 million, a price-to-earnings ratio of 117.92 and a beta of 0.64. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.17 and a quick ratio of 1.71. The business has a fifty day moving average of $15.46 and a 200 day moving average of $13.71. Mama's Creations, Inc. has a 1 year low of $6.37 and a 1 year high of $17.85.

Mama's Creations (NASDAQ:MAMA - Get Free Report) last issued its earnings results on Tuesday, April 14th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.05. The company had revenue of $53.99 million during the quarter, compared to analyst estimates of $52.64 million. Mama's Creations had a return on equity of 15.31% and a net margin of 3.06%. As a group, research analysts expect that Mama's Creations, Inc. will post 0.25 earnings per share for the current year.

Insider Transactions at Mama's Creations

In related news, CEO Adam Laurance Michaels sold 16,223 shares of the firm's stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $15.30, for a total value of $248,211.90. Following the completion of the transaction, the chief executive officer owned 695,288 shares in the company, valued at $10,637,906.40. This trade represents a 2.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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. 6.50% of the stock is owned by company insiders.

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. Its brands include MamaMancini's, Creative Salads, and The Olive Branch. The company was founded by Daniel Dougherty on July 22, 2009 and is headquartered in East Rutherford, NJ.

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