SeeThruEquity Issues Company Update Note on MamaMancini’s Holdings, Highlighting Growing Retail Presence

NEW YORK, NY / ACCESSWIRE / November 13, 2015 / SeeThruEquity, a leading independent equity research and corporate access firm focused on small-cap and micro-cap public companies, today announced it has issued an company update note on MamaMancini’s Holdings, Inc. (OTCQB: MMMB), a manufacturer and distributor of a line of all natural, beef meatballs with sauce, turkey meatballs with sauce, chicken meatballs with sauce, pork meatballs with sauce, and other similar Italian products.

The report is available here: MMMB November 2015 Update. SeeThruEquity is an approved equity research contributor on Thomson First Call, Capital IQ, FactSet, and Zack’s. The report will be available on these platforms. The firm also contributes its estimates to Thomson Estimates, the leading estimates platform on Wall Street.

“We have followed the continued progress at MMMB in terms of growth driven by expansion of products and retail unit expansion. The company continues to impress in this sphere. MMMB recently announced that the wholesale arm of Costco for retail distribution in the Northeast would carry its new jumbo meatball product line. Another impressive announcement by the company was that it began limited distribution of its prepared food products in more than 100 Lowe’s Supermarkets in the southwestern United States during the first week of October,” stated Ajay Tandon, CEO of SeeThruEquity. “We are maintaining our 12-month target price of $4.00 per share.”

Additional highlights of the note are as follows:

New orders highlight MMMB’s growing retail presence

MMMB recently announced that it had received new orders from multiple accounts for all natural line of meatballs, sauces and related products. According to MMMB management, the company received new orders for distribution to more than 500 locations of well-known retailers including Albertsons, Marsh Supermarkets, King Kullen Supermarkets, Shoppers Food and Pharmacy and The Fresh Market, as well as C&S Wholesale Grocers, a leading supply chain company in the food industry. We see the announcement as reflecting continued progress by MMMB in its efforts to penetrate large accounts with frozen, refrigerated and prepared food. Impressively, the news follows the company’s announcement that it had won new business in Costco’s wholesale division, which will carry MMMB products in retail stores throughout the Northeast.

Strong 2Q15 results, positive outlook

MMMB continued to show strong growth even in a seasonably slow 2Q16, with sales rising 22% to reach $2.7mn versus $2.2mn in 2Q15. The performance was driven by strong execution in the company’s expansion strategy – MMMB products were sold in 10,500 retail and grocery locations at the end of July up from 8,600 a year ago. MMMB management cited continued strong growth ahead from location expansion, new fresh products, and new channel sales at QVC. Importantly, MMMB management indicated it was able to pass through an effective price increase during the third quarter, and it appears as though MMMB is fast approaching a key swing point in its business. Management expects the company to be cash flow neutral this Fall, and sees powerful margin expansion ahead, driven by the impact of topline growth on plant capacity to improve gross margins, as well as expected improvements in packaging and freight costs per unit should decrease, and lower ingredient costs.

Initial success with new QVC presence

2Q16 marked the first appearance of MMMB on QVC, one of the largest direct marketers in the world. The company has now had eight appearances on QVC since June, and initial sales have performed well, surpassing $1mn in gross sales to QVC within 60 days. Indeed, according to MMMB, its products performed well above expectations, generating 2-4x the sales of average QVC food products. Following on this success MMMB will is now planning several more appearances on QVC with more products, and we now expect that QVC could quickly become a meaningful contributor to overall MMMB results.

Please review important disclosures on our website at www.seethruequity.com.

About MamaMancini’s Holdings, Inc.

MamaMancini’s is a manufacturer and distributor of a line of all natural, beef meatballs with sauce, turkey meatballs with sauce, chicken meatballs with sauce, pork meatballs with sauce, and other similar Italian products. The Company’s sales have been growing on a consistent basis as the Company expands its distribution channel, which includes major retailers such as Costco, Publix, Shop Rite, Price Chopper, A&P, Waldbaums, Food Emporium, Whole Foods, Shaw’s Supermarkets, Kings, Key Foods, Giant Eagle, Stop-n-Shop, Giant Stores, Food Town, Kroger, Winn Dixie, Albertsons, Shoppers, Wal-Mart, Marsh’s Supermarkets, Bashas, Bi-Lo, Central Markets, Weis Markets, Ingles, and The Fresh Market.

For more information, visit www.mamamancinis.com.

About SeeThruEquity

SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and is unbiased. The company does not conduct any investment banking or commission based business. SeeThruEquity is approved to contribute its research to Thomson One Analytics (First Call), Capital IQ, FactSet, Zacks, and distribute its research to its database of opt-in investors. The company also contributes its estimates to Thomson Estimates, the leading estimates platform on Wall Street.

For more information visit www.seethruequity.com.

Contact:

Ajay Tandon
SeeThruEquity
info@seethruequity.com

SOURCE: SeeThruEquity

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