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

Mama’s Creations, Inc. (NASDAQ:MAMA) CEO Adam Michaels sold 69,683 shares of the stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $13.31, for a total value of $927,480.73. Following the transaction, the chief executive officer directly owned 722,719 shares of the company’s stock, valued at approximately $9,619,389.89. The trade was a 8.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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

Shares of MAMA traded up $0.07 during midday trading on Thursday, reaching $13.37. The stock had a trading volume of 423,394 shares, compared to its average volume of 836,691. Mama’s Creations, Inc. has a 52 week low of $9.90 and a 52 week high of $21.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 6.93 and a quick ratio of 6.48. The firm’s 50 day moving average price is $16.30 and its 200-day moving average price is $15.91. The company has a market capitalization of $630.40 million, a P/E ratio of 72.63 and a beta of 0.56.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on MAMA. Weiss Ratings lowered shares of Mama’s Creations from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, September 17th. Lake Street Capital reiterated a “buy” rating and set a $22.00 price objective on shares of Mama’s Creations in a research report on Friday, September 4th. Wall Street Zen downgraded shares of Mama’s Creations from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. William Blair started coverage on shares of Mama’s Creations in a research note on Friday, July 24th. They set an “outperform” rating on the stock. Finally, Zacks Research lowered Mama’s Creations from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. One equities research 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 stock. According to MarketBeat.com, Mama’s Creations presently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Institutional Trading of Mama’s Creations

Several hedge funds and other institutional investors have recently modified their holdings of the company. Persistent Asset Partners Ltd purchased a new position in Mama’s Creations in the second quarter valued at about $59,000. Legal & General Group Plc purchased a new stake in shares of Mama’s Creations during the 2nd quarter worth about $65,000. Grandeur Peak Global Advisors LLC lifted its holdings in shares of Mama’s Creations by 4.5% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 88,406 shares of the company’s stock valued at $1,578,000 after buying an additional 3,798 shares during the last quarter. Group One Trading LLC acquired a new stake in shares of Mama’s Creations during the 2nd quarter valued at about $81,000. Finally, Granite Investment Partners LLC grew its stake in shares of Mama’s Creations by 38.4% in the 1st quarter. Granite Investment Partners LLC now owns 21,167 shares of the company’s stock valued at $325,000 after buying an additional 5,872 shares in the last quarter. 45.18% of the stock is currently owned by hedge funds and other institutional investors.

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.