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MAMAMANCINI'S HOLDINGS, INC.

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Market Data: Yahoo Finance, Bloomberg, SEC Filings

Report Link: Updated Research Report (Dated 12/14/2018)

Symbol: MMMB

Analyst: Howard Halpern

Taglich Rating: Speculative Buy

Price Target: $1.50

Time Horizon: 12 Months

Rating Established: November 20, 2017

Price When Established: $1.25

Most Recent Report: December 14, 2018

Price When Issued: $0.71


What's New

MMMB Enters the Food Service and Alternative Market Segments

Effective April 1, 2019, the company hired Allan Sabatier as VP of Business Development to head MamaMancini’s entry into the Food Service and Alternate market segments

Mr. Sabatier has held senior executive positions in sales and marketing for major food companies including Dole, Del Monte, Ready Pac Foods and ConAgra.

At MMMB, he will be focused on developing business opportunities with food service distributors, chain restaurants, convenience stores, health and eldercare institutions, college and universities, corporate commissaries and kitchens, casinos, and export distributors.

The company believes the food service channel has the potential of being larger than the grocery store channel.


MMMB Announces New Credit Facility

Effective January 4, 2019, the company transitioned to a new $3.5 million working capital line of credit with M&T Bank at LIBOR plus four points with a two-year expiration. MMMB also arranged for a $2.5 million five-year note with M&T Bank at LIBOR plus four points.

Initially, the company estimates paying a 6.5% per annum interest rate compared to an average of over 12.5% per annum on its old debt obligations.

Starting in January 2019, the company anticipates the new financing should initially improve cash flow by approximately $121,000 per month due to lower interest and debt payments, and other expenses.

However, the company is expected to record a one-time charge of $121,500 for termination of its existing loans.


Company Description

MamaMancini’s Holdings, Inc., headquartered in East Rutherford, NJ, is a specialty prepared foods marketer and distributor of natural, authentic Italian meatballs containing beef, turkey, chicken, and pork combined with its homemade slow cooked Italian sauce and other Italian products.


Company Reports

Updated Research Report (Dated 12/14/2018)

Updated Research Report (Dated 09/24/2018)

Updated Research Report (Dated 06/28/2018)

Updated Research Report (Dated 05/30/2018)

Updated Research Report (Dated 12/21/2017)

Initial Research Report (Dated 11/20/2017)


Disclaimer

Please view our current disclosure and disclaimer on our most recent research report.