Mama’s Creations (MAMA) is Making Progress in Its New Endeavor

Diamond Hill Capital, an investment management company, released its “Small Cap Fund” second-quarter 2024 investor letter. A copy of the same can be downloaded here. Equity markets reported mixed results in the second quarter of 2024. However, the broad market Russell 3000 Index and the large-cap-focused Russell 1000 Index advanced approximately 3%, most other market segments posted negative returns. Diamond Hill Small Cap Fund slightly trailed its benchmark, the Russell 2000 Index, in Q2 and returned -3.42% while the benchmark return was -3.28% during the same period. For more information on the fund’s top picks in 2024, please check its top five holdings.

Diamond Hill Small Cap Fund 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 1.12%, and its shares gained 94.09% of their value over the last 52 weeks. On August 7, 2024, Mama’s Creations, Inc. (NASDAQ:MAMA) stock closed at $7.22 per share with a market capitalization of $269.04 million.

Diamond Hill Small Cap Fund stated the following regarding Mama’s Creations, Inc. (NASDAQ:MAMA) in its Q2 2024 investor letter:

“Other top Q2 contributors included Mama’s Creations, Inc. (NASDAQ:MAMA), Rocky Brands and Taseko Mines. Prepared foods company Mama’s Creations is making progress with its endeavor to create a one-stop, deli-solutions business under the leadership of its new management team and new CEO, Adam Michaels.”

Mama’s Creations, Inc. (NASDAQ:MAMA) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 15 hedge fund portfolios held Mama’s Creations, Inc. (NASDAQ:MAMA) at the end of the first quarter which was 14 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.

Diamond Hill Small Cap Fund established a position in Mama’s Creations, Inc. (NASDAQ:MAMA) during Q4 2023. 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.