Lifeway Foods (NASDAQ:LWAY) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Lifeway Foods (NASDAQ:LWAY) in a research note released on Saturday morning. The firm issued a hold rating on the stock.

Lifeway Foods Price Performance

Shares of NASDAQ:LWAY opened at $23.85 on Friday. The firm has a market capitalization of $362.59 million, a PE ratio of 27.73 and a beta of 1.00. The firm’s 50-day moving average is $22.12 and its two-hundred day moving average is $23.57. Lifeway Foods has a 1 year low of $10.06 and a 1 year high of $28.61.

Lifeway Foods (NASDAQ:LWAY) last issued its quarterly earnings results on Friday, March 14th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.19). The business had revenue of $46.93 million for the quarter, compared to analysts’ expectations of $48.00 million. Lifeway Foods had a return on equity of 19.97% and a net margin of 7.23%.

Insider Transactions at Lifeway Foods

In other news, major shareholder Ludmila Smolyansky sold 45,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $23.49, for a total transaction of $1,057,050.00. Following the completion of the transaction, the insider now directly owns 1,025,549 shares of the company’s stock, valued at approximately $24,090,146.01. The trade was a 4.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Edward Smolyansky sold 20,000 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $23.23, for a total value of $464,600.00. Following the transaction, the insider now directly owns 1,251,642 shares of the company’s stock, valued at approximately $29,075,643.66. This represents a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 142,034 shares of company stock valued at $3,261,817. 18.86% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lifeway Foods

A number of institutional investors and hedge funds have recently made changes to their positions in LWAY. Renaissance Technologies LLC boosted its holdings in Lifeway Foods by 1.4% in the fourth quarter. Renaissance Technologies LLC now owns 436,371 shares of the company’s stock valued at $10,822,000 after purchasing an additional 6,189 shares in the last quarter. Beryl Capital Management LLC acquired a new position in Lifeway Foods in the fourth quarter valued at approximately $3,607,000. TIG Advisors LLC acquired a new position in Lifeway Foods in the fourth quarter valued at approximately $3,512,000. Gamco Investors INC. ET AL boosted its holdings in Lifeway Foods by 0.9% in the fourth quarter. Gamco Investors INC. ET AL now owns 120,350 shares of the company’s stock valued at $2,985,000 after purchasing an additional 1,050 shares in the last quarter. Finally, Divisadero Street Capital Management LP acquired a new position in Lifeway Foods in the fourth quarter valued at approximately $2,925,000. 36.39% of the stock is owned by institutional investors and hedge funds.

Lifeway Foods Company Profile

Lifeway Foods, Inc produces and markets probiotic-based products in the United States and internationally. Its primary product is drinkable kefir, a cultured dairy product in various organic and non-organic sizes, flavors, and types. The company offers European-style soft cheeses; cream and other products; ProBugs, a line of kefir products designed for children; drinkable yogurt; and fresh made butter and sour cream.