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

Analysts at StockNews.com began coverage on shares of Lifeway Foods (NASDAQ:LWAY) in a report issued on Friday. The brokerage set a “hold” rating on the stock.

Lifeway Foods Trading Down 1.8 %

Shares of LWAY stock opened at $20.06 on Friday. The stock has a market capitalization of $297.21 million, a price-to-earnings ratio of 23.33 and a beta of 1.00. Lifeway Foods has a twelve month low of $10.06 and a twelve month high of $28.61. The stock has a fifty day simple moving average of $22.09 and a two-hundred day simple moving average of $23.43.

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

Insider Activity

In other news, major shareholder Ludmila Smolyansky sold 45,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $23.49, for a total value of $1,057,050.00. Following the sale, the insider now owns 1,025,549 shares in the company, valued at $24,090,146.01. This represents a 4.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 122,034 shares of company stock valued at $2,797,217. Company insiders own 18.86% of the company’s stock.

Institutional Trading of Lifeway Foods

Hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. purchased a new stake in shares of Lifeway Foods in the third quarter worth about $679,000. Los Angeles Capital Management LLC purchased a new stake in shares of Lifeway Foods in the third quarter worth about $1,237,000. BNP Paribas Financial Markets boosted its stake in shares of Lifeway Foods by 71.2% in the third quarter. BNP Paribas Financial Markets now owns 2,778 shares of the company’s stock worth $72,000 after buying an additional 1,155 shares during the last quarter. State Street Corp boosted its position in Lifeway Foods by 28.9% during the third quarter. State Street Corp now owns 53,683 shares of the company’s stock worth $1,391,000 after purchasing an additional 12,020 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Lifeway Foods during the third quarter worth approximately $1,270,000. 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.