Mama's Creations (NASDAQ:MAMA) Announces Quarterly Earnings Results

Key Points

• Mama's Creations reported quarterly earnings of $0.03 per share, exceeding the consensus estimate of $0.02, showcasing positive financial performance with a return on equity of 18.19%.
• The company's stock price reached $9.94, supported by a trading volume significantly higher than its average, with a market capitalization of $373.84 million.
• Several analysts have revised their ratings on Mama's Creations, with a consensus rating of "Moderate Buy" and an average target price of $10.50.

Mama's Creations (NASDAQ:MAMA - Get Free Report) posted its earnings results on Monday. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01, Zacks reports. Mama's Creations had a return on equity of 18.19% and a net margin of 3.41%.

Mama's Creations Stock Performance

MAMA traded up $0.50 during midday trading on Monday, reaching $9.94. The company's stock had a trading volume of 748,511 shares, compared to its average volume of 274,893. Mama's Creations has a twelve month low of $5.50 and a twelve month high of $9.98. The stock has a market cap of $373.84 million, a P/E ratio of 90.37 and a beta of 0.65. The company has a fifty day simple moving average of $8.64 and a 200 day simple moving average of $7.50. The company has a current ratio of 1.29, a quick ratio of 1.01 and a debt-to-equity ratio of 0.07.

Institutional Trading of Mama's Creations

Hedge funds have recently modified their holdings of the company. State of Wyoming raised its position in shares of Mama's Creations by 45.5% during the second quarter. State of Wyoming now owns 23,405 shares of the company's stock worth $194,000 after acquiring an additional 7,324 shares during the last quarter. Gilder Gagnon Howe & Co. LLC bought a new stake in Mama's Creations in the 2nd quarter valued at $2,047,000. Bank of America Corp DE grew its holdings in shares of Mama's Creations by 24.4% during the second quarter. Bank of America Corp DE now owns 29,122 shares of the company's stock worth $242,000 after buying an additional 5,717 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Mama's Creations during the second quarter worth about $87,000. Finally, Invesco Ltd. grew its holdings in shares of Mama's Creations by 29.5% during the second quarter. Invesco Ltd. now owns 20,184 shares of the company's stock worth $168,000 after buying an additional 4,600 shares in the last quarter. Institutional investors and hedge funds own 45.18% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on MAMA shares. Roth Capital reaffirmed a "buy" rating and set a $10.00 price objective (up previously from $9.00) on shares of Mama's Creations in a research note on Wednesday, June 4th. Wall Street Zen downgraded Mama's Creations from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Finally, Zacks Research lowered Mama's Creations from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $10.50.

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.

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