Renaissance Technologies LLC Increases Stock Position in Lifeway Foods, Inc. (NASDAQ:LWAY)

Renaissance Technologies LLC grew its holdings in Lifeway Foods, Inc. (NASDAQ:LWAY) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 436,371 shares of the company’s stock after purchasing an additional 6,189 shares during the period. Renaissance Technologies LLC’s holdings in Lifeway Foods were worth $10,822,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Bank of Montreal Can purchased a new stake in Lifeway Foods during the 4th quarter valued at $388,000. Wells Fargo & Company MN lifted its holdings in Lifeway Foods by 33.6% in the fourth quarter. Wells Fargo & Company MN now owns 2,855 shares of the company’s stock valued at $71,000 after acquiring an additional 718 shares during the period. Slotnik Capital LLC purchased a new position in Lifeway Foods in the fourth quarter worth about $1,314,000. JPMorgan Chase & Co. boosted its position in Lifeway Foods by 712.8% in the fourth quarter. JPMorgan Chase & Co. now owns 85,959 shares of the company’s stock worth $2,132,000 after purchasing an additional 75,383 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Lifeway Foods by 27.7% during the 4th quarter. American Century Companies Inc. now owns 69,302 shares of the company’s stock valued at $1,719,000 after purchasing an additional 15,046 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Edward Smolyansky sold 20,000 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $23.23, for a total transaction of $464,600.00. Following the completion of the transaction, the insider now owns 1,251,642 shares in the company, valued at approximately $29,075,643.66. This represents a 1.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Ludmila Smolyansky sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $21.31, for a total transaction of $213,100.00. Following the transaction, the insider now directly owns 17,343 shares of the company’s stock, valued at $369,579.33. The trade was a 36.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,410 shares of company stock valued at $1,382,008. Company insiders own 18.86% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Lifeway Foods in a report on Tuesday. They issued a “hold” rating on the stock.

Lifeway Foods Stock Performance

NASDAQ:LWAY opened at $23.89 on Thursday. The stock has a 50-day simple moving average of $22.59 and a two-hundred day simple moving average of $23.77. The firm has a market capitalization of $363.20 million, a PE ratio of 27.78 and a beta of 0.93. Lifeway Foods, Inc. has a 52-week low of $10.06 and a 52-week 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 for the quarter, missing the consensus estimate of $0.18 by ($0.19). The firm had revenue of $46.93 million for the quarter, compared to analysts’ expectations of $48.00 million. Lifeway Foods had a net margin of 7.23% and a return on equity of 19.97%.

Lifeway Foods 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.