Riverwater Partners LLC Makes New $237,000 Investment in Mama’s Creations, Inc. (NASDAQ:MAMA)

Riverwater Partners LLC bought a new stake in shares of Mama’s Creations, Inc. (NASDAQ:MAMA) in the third quarter, Holdings Channel reports. The fund bought 30,124 shares of the company’s stock, valued at approximately $237,000.

Several other large investors also recently modified their holdings of the stock. Evernest Financial Advisors LLC increased its position in Mama’s Creations by 276.0% in the third quarter. Evernest Financial Advisors LLC now owns 188,000 shares of the company’s stock worth $1,372,000 after buying an additional 138,000 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Mama’s Creations during the 3rd quarter worth $1,106,000. Annex Advisory Services LLC increased its holdings in Mama’s Creations by 693.5% in the 3rd quarter. Annex Advisory Services LLC now owns 714,308 shares of the company’s stock worth $5,214,000 after acquiring an additional 624,289 shares during the last quarter. SG Americas Securities LLC bought a new stake in Mama’s Creations in the 3rd quarter valued at about $90,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Mama’s Creations during the second quarter valued at about $86,000. Hedge funds and other institutional investors own 45.18% of the company’s stock.

Insider Activity

In related news, CEO Adam Laurance Michaels sold 65,898 shares of the company’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 transaction, the chief executive officer now directly owns 543,260 shares in the company, valued at approximately $4,030,989.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Craig Hallum lifted their target price on shares of Mama’s Creations from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Roth Mkm reissued a “buy” rating and set a $10.00 target price (up previously from $8.50) on shares of Mama’s Creations in a report on Wednesday, September 11th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $10.00.

Mama’s Creations Stock Performance

Mama’s Creations stock opened at $7.60 on Thursday. The firm’s 50 day simple moving average is $7.91 and its 200 day simple moving average is $7.10. The firm has a market capitalization of $283.20 million, a PE ratio of 50.67 and a beta of 1.03. The company has a current ratio of 1.37, a quick ratio of 1.17 and a debt-to-equity ratio of 0.18. Mama’s Creations, Inc. has a 1-year low of $3.31 and a 1-year high of $8.69.

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, beating the consensus estimate of $0.02 by $0.01. Mama’s Creations had a return on equity of 25.53% and a net margin of 4.51%. The company had revenue of $28.38 million during the quarter, compared to analyst estimates of $27.80 million. During the same quarter last year, the company earned $0.05 earnings per share. As a group, analysts expect that Mama’s Creations, Inc. will post 0.14 earnings per share for the current fiscal year.

Mama’s Creations Company Profile

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.