Mama's Creations (NASDAQ:MAMA) CEO Adam Laurance Michaels Sells 69,683 Shares of Company Stock

Key Points

• CEO Adam Michaels sold 69,683 Mama’s Creations shares at an average price of $13.31, generating $927,481. The Rule 10b5-1 sale was made to cover tax withholding tied to vested equity awards, leaving him with 722,719 shares.
• MAMA shares traded at $13.37, near the lower end of their 52-week range of $9.90 to $21.00. The company recently exceeded quarterly expectations, reporting $0.06 in earnings per share and $54.58 million in revenue.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and a $20 average price target, although several firms recently downgraded the stock to “Hold.” Institutional investors own 45.18% of the company.

Mama's Creations, Inc. (NASDAQ:MAMA - Get Free Report) CEO Adam Michaels sold 69,683 shares of the stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $13.31, for a total value of $927,480.73. Following the transaction, the chief executive officer directly owned 722,719 shares of the company's stock, valued at approximately $9,619,389.89. The trade was a 8.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through 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.

Mama's Creations Price Performance

Shares of MAMA traded up $0.07 during midday trading on Thursday, reaching $13.37. The stock had a trading volume of 423,394 shares, compared to its average volume of 836,691. Mama's Creations, Inc. has a 52 week low of $9.90 and a 52 week high of $21.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 6.93 and a quick ratio of 6.48. The firm's 50 day moving average price is $16.30 and its 200-day moving average price is $15.91. The company has a market capitalization of $630.40 million, a P/E ratio of 72.63 and a beta of 0.56.

Mama's Creations (NASDAQ:MAMA - Get Free Report) last announced its quarterly earnings data on Thursday, September 3rd. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. The business had revenue of $54.58 million during the quarter, compared to analyst estimates of $52.85 million. Mama's Creations had a return on equity of 10.05% and a net margin of 3.53%. On average, analysts forecast that Mama's Creations, Inc. will post 0.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on MAMA. Weiss Ratings lowered shares of Mama's Creations from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, September 17th. Lake Street Capital reiterated a "buy" rating and set a $22.00 price objective on shares of Mama's Creations in a research report on Friday, September 4th. Wall Street Zen downgraded shares of Mama's Creations from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. William Blair started coverage on shares of Mama's Creations in a research note on Friday, July 24th. They set an "outperform" rating on the stock. Finally, Zacks Research lowered Mama's Creations from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Mama's Creations presently has an average rating of "Moderate Buy" and a consensus price target of $20.00.

Institutional Trading of Mama's Creations

Several hedge funds and other institutional investors have recently modified their holdings of the company. Persistent Asset Partners Ltd purchased a new position in Mama's Creations in the second quarter valued at about $59,000. Legal & General Group Plc purchased a new stake in shares of Mama's Creations during the 2nd quarter worth about $65,000. Grandeur Peak Global Advisors LLC lifted its holdings in shares of Mama's Creations by 4.5% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 88,406 shares of the company's stock valued at $1,578,000 after buying an additional 3,798 shares during the last quarter. Group One Trading LLC acquired a new stake in shares of Mama's Creations during the 2nd quarter valued at about $81,000. Finally, Granite Investment Partners LLC grew its stake in shares of Mama's Creations by 38.4% in the 1st quarter. Granite Investment Partners LLC now owns 21,167 shares of the company's stock valued at $325,000 after buying an additional 5,872 shares in the last quarter. 45.18% of the stock is currently owned by hedge funds and other institutional investors.

About Mama's Creations

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.