Mama’s Creations, Inc. (NASDAQ:MAMA – Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $20.65, but opened at $17.80. Mama’s Creations shares last traded at $17.6410, with a volume of 415,286 shares.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on MAMA shares. Zacks Research cut shares of Mama’s Creations from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Wall Street Zen upgraded shares of Mama’s Creations from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. DA Davidson reissued a “buy” rating and issued a $25.00 price target on shares of Mama’s Creations in a research note on Wednesday, May 20th. Finally, Weiss Ratings lowered shares of Mama’s Creations from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, June 5th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Mama’s Creations currently has an average rating of “Moderate Buy” and an average price target of $18.80.
Check Out Our Latest Stock Analysis on MAMA
Mama’s Creations Stock Up 2.7%
Mama’s Creations (NASDAQ:MAMA – Get Free Report) last announced its quarterly earnings results on Monday, June 8th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $52.77 million during the quarter, compared to analyst estimates of $51.63 million. Mama’s Creations had a return on equity of 14.69% and a net margin of 3.21%.During the same quarter last year, the firm posted $0.03 earnings per share. As a group, analysts forecast that Mama’s Creations, Inc. will post 0.26 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CEO Adam Laurance Michaels sold 16,223 shares of the firm’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $15.30, for a total value of $248,211.90. Following the completion of the sale, the chief executive officer directly owned 695,288 shares of the company’s stock, valued at approximately $10,637,906.40. This trade represents a 2.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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. Company insiders own 1.03% of the company’s stock.
Hedge Funds Weigh In On Mama’s Creations
Hedge funds and other institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue purchased a new position in shares of Mama’s Creations in the 4th quarter valued at approximately $63,000. Walleye Capital LLC bought a new position in Mama’s Creations in the second quarter worth $87,000. Prudential Financial Inc. bought a new position in Mama’s Creations in the second quarter worth $100,000. Verition Fund Management LLC bought a new position in Mama’s Creations in the third quarter worth $105,000. Finally, Envestnet Asset Management Inc. purchased a new position in Mama’s Creations during the third quarter valued at $117,000. Hedge funds and other institutional investors own 45.18% of the company’s stock.
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. 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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