Millrace Asset Group Inc. Lowers Stock Position in Mama’s Creations, Inc. (NASDAQ:MAMA)

Millrace Asset Group Inc. trimmed its position in Mama’s Creations, Inc. (NASDAQ:MAMA) by 67.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 46,113 shares of the company’s stock after selling 93,936 shares during the period. Millrace Asset Group Inc. owned about 0.12% of Mama’s Creations worth $337,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MAMA. Planning Capital Management Corp bought a new position in shares of Mama’s Creations in the third quarter valued at approximately $36,000. SG Americas Securities LLC purchased a new stake in shares of Mama’s Creations during the 1st quarter valued at $56,000. The Manufacturers Life Insurance Company bought a new stake in shares of Mama’s Creations during the 2nd quarter worth $86,000. Ballentine Partners LLC purchased a new position in shares of Mama’s Creations in the 3rd quarter worth about $110,000. Finally, Keynote Financial Services LLC bought a new position in Mama’s Creations during the first quarter valued at about $76,000. Hedge funds and other institutional investors own 45.18% of the company’s stock.

Mama’s Creations Trading Up 1.5 %

Shares of MAMA opened at $9.30 on Tuesday. Mama’s Creations, Inc. has a 1-year low of $3.46 and a 1-year high of $9.46. The company has a market capitalization of $349.49 million, a P/E ratio of 71.54 and a beta of 1.04. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.37 and a quick ratio of 1.17. The firm’s 50 day simple moving average is $7.89 and its 200 day simple moving average is $7.52.

Mama’s Creations (NASDAQ:MAMA) last posted its quarterly earnings data on Tuesday, September 10th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. Mama’s Creations had a net margin of 4.51% and a return on equity of 25.53%. The company had revenue of $28.38 million during the quarter, compared to the consensus estimate of $27.80 million. During the same period in the previous year, the firm posted $0.05 EPS. Sell-side analysts forecast that Mama’s Creations, Inc. will post 0.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Adam Laurance Michaels sold 65,898 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $7.42, for a total value of $488,963.16. Following the completion of the sale, the chief executive officer now directly owns 543,260 shares in the company, valued at approximately $4,030,989.20. The trade was a 10.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 10.00% of the company’s stock.

Analysts Set New Price Targets

MAMA has been the topic of several research reports. Roth Mkm restated a “buy” rating and issued a $10.00 target price (up from $8.50) on shares of Mama’s Creations in a research note on Wednesday, September 11th. Craig Hallum raised their price objective on shares of Mama’s Creations from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Mama’s Creations currently has an average rating of “Buy” and an average target price of $10.00.

About Mama’s Creations

Mama's Creations, Inc, together with its subsidiaries, manufactures and markets prepared refrigerated foods primarily in the United States. The company offers beef and turkey meatballs, meat loaf, chicken, sausage-related products, and pasta entrees; and hot bars, salad bars, prepared foods, sandwich, and cold deli and foods-to-go sections.