Diamond Hill Capital Management LLC Investment Advisor Takes Position in Mama’s Creations, Inc. $MAMA

Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Mama’s Creations, Inc. (NASDAQ:MAMA) during the second quarter, HoldingsChannel reports. The fund acquired 608,422 shares of the company’s stock, valued at approximately $10,860,000.

Several other hedge funds have also added to or reduced their stakes in MAMA. Bank of New York Mellon Corp purchased a new stake in Mama’s Creations during the 2nd quarter valued at $1,890,000. State of Wyoming bought a new stake in shares of Mama’s Creations during the second quarter valued at approximately $333,000. Bridgewater Advisors Inc. purchased a new stake in shares of Mama’s Creations in the 2nd quarter worth about $813,000. Royal Bank of Canada lifted its position in Mama’s Creations by 14.2% during the 1st quarter. Royal Bank of Canada now owns 49,018 shares of the company’s stock valued at $751,000 after acquiring an additional 6,094 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Mama’s Creations by 5.7% during the 1st quarter. Renaissance Technologies LLC now owns 360,600 shares of the company’s stock valued at $5,532,000 after acquiring an additional 19,300 shares during the period. 45.18% of the stock is owned by institutional investors.

Mama’s Creations Price Performance

Shares of Mama’s Creations stock opened at $17.27 on Tuesday. The company has a current ratio of 2.32, a quick ratio of 1.90 and a debt-to-equity ratio of 0.09. The firm has a market cap of $707.03 million, a PE ratio of 123.36 and a beta of 0.56. Mama’s Creations, Inc. has a 12 month low of $7.89 and a 12 month high of $21.00. The stock has a 50 day moving average of $17.69 and a 200 day moving average of $16.05.

Mama’s Creations (NASDAQ:MAMA) last released its quarterly earnings results on Monday, June 8th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. Mama’s Creations had a return on equity of 14.69% and a net margin of 3.21%.The company had revenue of $52.77 million during the quarter, compared to analyst estimates of $51.63 million. During the same quarter last year, the business posted $0.03 earnings per share. On average, research analysts expect that Mama’s Creations, Inc. will post 0.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on MAMA. Weiss Ratings upgraded shares of Mama’s Creations from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 3rd. Wall Street Zen cut Mama’s Creations from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Benchmark started coverage on shares of Mama’s Creations in a report on Tuesday, July 21st. They set a “buy” rating and a $25.00 price objective for the company. William Blair began coverage on Mama’s Creations in a report on Friday, July 24th. They issued an “outperform” rating for the company. Finally, Zacks Research cut Mama’s Creations from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $19.83.

Mama’s Creations Company Profile

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.