StockNews.com Begins Coverage on Lifeway Foods (NASDAQ:LWAY)

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

Separately, Noble Financial downgraded shares of Lifeway Foods from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 24th.

Lifeway Foods Price Performance

LWAY opened at $23.56 on Thursday. Lifeway Foods has a fifty-two week low of $9.93 and a fifty-two week high of $28.61. The company’s 50-day moving average is $24.88 and its 200 day moving average is $18.90. The firm has a market capitalization of $348.45 million, a PE ratio of 27.40 and a beta of 1.05.

Insider Activity at Lifeway Foods

In related news, major shareholder Ludmila Smolyansky sold 4,584 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $19.55, for a total transaction of $89,617.20. Following the sale, the insider now owns 1,085,549 shares of the company’s stock, valued at approximately $21,222,482.95. This represents a 0.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 18.86% of the stock is owned by company insiders.

Institutional Trading of Lifeway Foods

Several institutional investors and hedge funds have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Lifeway Foods in the 3rd quarter worth approximately $1,270,000. Los Angeles Capital Management LLC bought a new position in shares of Lifeway Foods during the third quarter valued at about $1,237,000. American Century Companies Inc. purchased a new position in shares of Lifeway Foods in the second quarter worth about $593,000. Cornercap Investment Counsel Inc. bought a new stake in shares of Lifeway Foods in the 2nd quarter valued at about $539,000. Finally, Bank of Montreal Can purchased a new stake in Lifeway Foods during the 2nd quarter valued at about $432,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

About Lifeway Foods

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.