Manatuck Hill Partners LLC Invests $6.70 Million in Mama’s Creations, Inc. $MAMA

Manatuck Hill Partners LLC purchased a new position in Mama’s Creations, Inc. (NASDAQ:MAMA) during the 2nd quarter, HoldingsChannel reports. The firm purchased 375,500 shares of the company’s stock, valued at approximately $6,703,000. Mama’s Creations accounts for about 2.2% of Manatuck Hill Partners LLC’s portfolio, making the stock its 11th largest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MAMA. Persistent Asset Partners Ltd bought a new position in Mama’s Creations during the 2nd quarter worth $59,000. Legal & General Group Plc bought a new stake in Mama’s Creations in the second quarter valued at $65,000. Group One Trading LLC acquired a new position in shares of Mama’s Creations during the second quarter valued at $81,000. Walleye Capital LLC bought a new position in shares of Mama’s Creations during the second quarter worth about $87,000. Finally, Prudential Financial Inc. bought a new position in shares of Mama’s Creations during the second quarter worth about $100,000. Institutional investors and hedge funds own 45.18% of the company’s stock.

Wall Street Analyst Weigh In

MAMA has been the topic of several recent research reports. DA Davidson reiterated a “buy” rating and issued a $25.00 price objective on shares of Mama’s Creations in a research report on Monday, July 13th. Wall Street Zen cut Mama’s Creations from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Zacks Research downgraded Mama’s Creations from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Benchmark began coverage on Mama’s Creations in a report on Tuesday, July 21st. They issued a “buy” rating and a $25.00 price objective for the company. Finally, William Blair assumed coverage on Mama’s Creations in a research note on Friday, July 24th. They issued an “outperform” rating for the company. One equities research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.83.

Mama’s Creations Price Performance

NASDAQ MAMA opened at $16.64 on Wednesday. Mama’s Creations, Inc. has a 12 month low of $7.89 and a 12 month high of $21.00. The firm has a market capitalization of $681.24 million, a PE ratio of 118.86 and a beta of 0.56. The company’s 50 day simple moving average is $17.91 and its 200 day simple moving average is $16.10. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.32 and a quick ratio of 1.90.

Mama’s Creations (NASDAQ:MAMA) last issued its quarterly earnings results on Monday, June 8th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $52.77 million during the quarter, compared to analyst estimates of $51.63 million. During the same period last year, the company posted $0.03 EPS. As a group, equities research analysts forecast that Mama’s Creations, Inc. will post 0.24 EPS for the current fiscal year.

Mama’s Creations 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.