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

Mama’s Creations, Inc. (NASDAQ:MAMA – Get Free Report) CEO Adam Michaels sold 69,683 shares of the company’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $13.31, for a total value of $927,480.73. Following the sale, the chief executive officer owned 722,719 shares in the company, valued at approximately $9,619,389.89. This represents a 8.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 Price Performance

NASDAQ:MAMA opened at $13.37 on Friday. The stock has a market capitalization of $630.40 million, a PE ratio of 78.65 and a beta of 0.56. Mama’s Creations, Inc. has a 1-year low of $9.90 and a 1-year high of $21.00. The firm has a fifty day simple moving average of $16.30 and a 200 day simple moving average of $15.91. The company has a current ratio of 6.93, a quick ratio of 6.48 and a debt-to-equity ratio of 0.03.

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Mama’s Creations (NASDAQ:MAMA – Get Free Report) last posted its quarterly earnings results on Thursday, September 3rd. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $54.58 million for the quarter, compared to analyst estimates of $52.85 million. On average, research analysts expect that Mama’s Creations, Inc. will post 0.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MAMA has been the subject of several recent analyst reports. Weiss Ratings downgraded shares of Mama’s Creations from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, September 17th. Benchmark initiated coverage on Mama’s Creations in a research report on Tuesday, July 21st. They set a “buy” rating and a $25.00 price target on the stock. William Blair began coverage on Mama’s Creations in a research note on Friday, July 24th. They issued an “outperform” rating on the stock. Lake Street Capital reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Mama’s Creations in a research report on Friday, September 4th. Finally, DA Davidson reduced their target price on Mama’s Creations from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

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Institutional Investors Weigh In On Mama’s Creations

Several institutional investors and hedge funds have recently added to or reduced their stakes in MAMA. Tidal Investments LLC acquired a new position in shares of Mama’s Creations during the 2nd quarter worth $221,000. Squarepoint Ops LLC boosted its stake in 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 buying an additional 101,736 shares in the last quarter. HighTower Advisors LLC bought a new position in Mama’s Creations in the second quarter valued at about $183,000. Grandeur Peak Global Advisors LLC raised its stake in Mama’s Creations by 4.5% during the second quarter. Grandeur Peak Global Advisors LLC now owns 88,406 shares of the company’s stock worth $1,578,000 after acquiring an additional 3,798 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of Mama’s Creations by 137.5% in the second quarter. Alyeska Investment Group L.P. now owns 950,000 shares of the company’s stock worth $16,958,000 after acquiring an additional 550,000 shares during the last quarter. 45.18% of the stock is currently owned by institutional investors.

Mama’s Creations Company Profile

(Get Free Report)

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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