Mama’s Creations (NASDAQ:MAMA) CEO Sells 69,683 Shares of Company Stock

Mama’s Creations, Inc. (NASDAQ:MAMA) CEO Adam Michaels sold 69,683 shares of Mama’s Creations stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $13.31, for a total transaction of $927,480.73. Following the completion of the sale, the chief executive officer owned 722,719 shares of the company’s stock, valued at $9,619,389.89. This trade represents a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 Stock Up 0.5%

Shares of MAMA traded up $0.07 during mid-day trading on Thursday, hitting $13.37. 423,394 shares of the company’s stock were exchanged, compared to its average volume of 836,691. The firm has a fifty day moving average of $16.30 and a two-hundred day moving average of $15.91. Mama’s Creations, Inc. has a twelve month low of $9.90 and a twelve month high of $21.00. The stock has a market cap of $630.40 million, a price-to-earnings ratio of 72.63 and a beta of 0.56. The company has a quick ratio of 6.48, a current ratio of 6.93 and a debt-to-equity ratio of 0.03.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MAMA. Lake Street Capital restated a “buy” rating and set a $22.00 target price on shares of Mama’s Creations in a report on Friday, September 4th. William Blair assumed coverage on Mama’s Creations in a report on Friday, July 24th. They set an “outperform” rating on the stock. Weiss Ratings downgraded Mama’s Creations from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, September 17th. Wall Street Zen lowered Mama’s Creations from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Benchmark started coverage on Mama’s Creations in a report on Tuesday, July 21st. They set a “buy” rating and a $25.00 price target on the stock. One investment 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Mama’s Creations in the second quarter valued at about $10,860,000. Squarepoint Ops LLC lifted its position in shares of Mama’s Creations by 278.2% during the 2nd quarter. Squarepoint Ops LLC now owns 138,301 shares of the company’s stock worth $2,469,000 after purchasing an additional 101,736 shares during the last quarter. BlackRock Inc. bought a new stake in Mama’s Creations during the 2nd quarter valued at approximately $42,473,000. Bank of New York Mellon Corp acquired a new stake in Mama’s Creations in the 2nd quarter valued at approximately $1,890,000. Finally, Pillsbury Lake Capital LLC acquired a new stake in Mama’s Creations in the 2nd quarter valued at approximately $1,608,464. Institutional investors and hedge funds own 45.18% of the company’s stock.

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.