Next Century Growth Investors, LLC, an investment Management Company, released its “Micro-Cap Strategy” second-quarter 2024 investor letter. A copy of the letter can be downloaded here. Equity markets were mixed in the second quarter, large-cap stocks continue to outperform small-cap stocks. The strategy returned (0.95)% (net of fees) compared to a (5.56)% return for the Russell Microcap Growth Index. The Strategy outperformed in health care and technology and underperformed in consumer discretionary during the quarter. The firm believes that the economy’s trajectory and the outlook for earnings forecasts will determine the future course of the market. In addition, please check the fund’s top five holdings to know its best picks in 2024.
NCG Micro-Cap Strategy highlighted stocks like Mama’s Creations, Inc. (NASDAQ:MAMA), in the second quarter 2024 investor letter. Mama’s Creations, Inc. (NASDAQ:MAMA) manufactures and markets fresh deli-prepared foods. The one-month return of Mama’s Creations, Inc. (NASDAQ:MAMA) was 2.14%, and its shares gained 87.50% of their value over the last 52 weeks. On September 6, 2024, Mama’s Creations, Inc. (NASDAQ:MAMA) stock closed at $7.65 per share with a market capitalization of $285.063 million.
NCG Micro-Cap Strategy stated the following regarding Mama’s Creations, Inc. (NASDAQ:MAMA) in its Q2 2024 investor letter:
“Mama’s Creations, Inc. (NASDAQ:MAMA) 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 brands include MamaMancini’s, Creative Salads, and The Olive Branch. With a new CEO on board and a much-improved corporate structure, the company has been able to take share in the ready-to-eat food segment and has several new product launches and partnership initiatives that could drive accelerated growth.”
Mama’s Creations, Inc. (NASDAQ:MAMA) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 9 hedge fund portfolios held Mama’s Creations, Inc. (NASDAQ:MAMA) at the end of the second quarter which was 15 in the previous quarter. Mama’s Creations, Inc. (NASDAQ:MAMA) reported $29.8 million in revenues in the first quarter of fiscal 2025 increased 29% from $23.1 million in the same year-ago quarter. While we acknowledge the potential of Mama’s Creations, Inc. (NASDAQ:MAMA) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Mama’s Creations, Inc. (NASDAQ:MAMA) and shared 180 Degree Capital Corp.’ views on the company. In addition, please check out our hedge fund investor letters Q2 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
