Mama's Creations (NASDAQ:MAMA) Trading Up 6.1% - Time to Buy?

Key Points

• Mama’s Creations shares rose 6.1% to approximately $13.95, although trading volume was 47% below the stock’s average daily volume.
• Analysts remain broadly bullish, with an average “Buy” rating and a consensus price target of $20.00; targets from Lake Street Capital and DA Davidson stand at $22.00.
• The company exceeded quarterly expectations, reporting $0.06 in EPS versus $0.05 expected and revenue of $54.58 million versus $52.85 million, while institutional investors own 45.18% of shares.

Mama's Creations, Inc. (NASDAQ:MAMA - Get Free Report)'s share price shot up 6.1% during trading on Wednesday . The company traded as high as $13.92 and last traded at $13.9460. 281,159 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 526,818 shares. The stock had previously closed at $13.14.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. William Blair started coverage on Mama's Creations in a report on Friday, July 24th. They set an "outperform" rating on the stock. Lake Street Capital restated a "buy" rating and set a $22.00 target price on shares of Mama's Creations in a research note on Friday, September 4th. DA Davidson decreased their price objective on shares of Mama's Creations from $25.00 to $22.00 and set a "buy" rating for the company in a report on Friday, September 4th. Wall Street Zen cut shares of Mama's Creations from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Finally, Weiss Ratings raised shares of Mama's Creations from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Mama's Creations has an average rating of "Buy" and a consensus target price of $20.00.

Mama's Creations Stock Performance

The business's fifty day moving average is $16.98 and its 200-day moving average is $16.06. The company has a quick ratio of 6.48, a current ratio of 6.93 and a debt-to-equity ratio of 0.03. The company has a market cap of $657.79 million, a PE ratio of 82.37 and a beta of 0.56.

Mama's Creations (NASDAQ:MAMA - Get Free Report) last released its quarterly earnings results on Thursday, September 3rd. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. The business had revenue of $54.58 million for the quarter, compared to the consensus estimate of $52.85 million. Mama's Creations had a net margin of 3.53% and a return on equity of 10.05%. As a group, research analysts predict that Mama's Creations, Inc. will post 0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Mama's Creations

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in Mama's Creations in the 2nd quarter worth $10,860,000. BlackRock Inc. purchased a new position in shares of Mama's Creations in the second quarter valued at about $42,473,000. Squarepoint Ops LLC lifted its position in shares of Mama's Creations by 278.2% in the second quarter. Squarepoint Ops LLC now owns 138,301 shares of the company's stock valued at $2,469,000 after acquiring an additional 101,736 shares in the last quarter. Rice Hall James & Associates LLC bought a new position in shares of Mama's Creations in the second quarter worth about $2,901,000. Finally, Pillsbury Lake Capital LLC bought a new position in shares of Mama's Creations in the second quarter worth about $1,608,464. 45.18% of the stock is currently owned by hedge funds and other institutional investors.

Mama's Creations Company Profile

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.

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