Connor Clark & Lunn Investment Management Ltd. Lowers Holdings in Lifeway Foods, Inc. (NASDAQ:LWAY)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in Lifeway Foods, Inc. (NASDAQ:LWAY) by 28.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,282 shares of the company’s stock after selling 13,733 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.24% of Lifeway Foods worth $875,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new position in Lifeway Foods in the 3rd quarter worth approximately $679,000. BNP Paribas Financial Markets lifted its holdings in Lifeway Foods by 71.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,778 shares of the company’s stock worth $72,000 after purchasing an additional 1,155 shares in the last quarter. State Street Corp raised its holdings in shares of Lifeway Foods by 28.9% during the 3rd quarter. State Street Corp now owns 53,683 shares of the company’s stock worth $1,391,000 after acquiring an additional 12,020 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Lifeway Foods by 451.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,576 shares of the company’s stock worth $274,000 after acquiring an additional 8,658 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Lifeway Foods by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 115,971 shares of the company’s stock worth $3,006,000 after acquiring an additional 2,018 shares in the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Lifeway Foods in a report on Saturday. They set a “hold” rating on the stock.

Lifeway Foods Price Performance

Shares of LWAY opened at $23.85 on Friday. The stock has a market capitalization of $353.36 million, a price-to-earnings ratio of 27.73 and a beta of 1.00. Lifeway Foods, Inc. has a 1 year low of $10.06 and a 1 year high of $28.61. The business’s 50 day simple moving average is $22.12 and its 200-day simple moving average is $23.54.

Lifeway Foods (NASDAQ:LWAY) last released its 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 company had revenue of $46.93 million for the quarter, compared to the consensus estimate of $48.00 million. Lifeway Foods had a net margin of 7.23% and a return on equity of 19.97%.

Insider Activity

In other news, major shareholder Ludmila Smolyansky sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $24.12, for a total transaction of $361,800.00. Following the transaction, the insider now owns 1,040,549 shares of the company’s stock, valued at approximately $25,098,041.88. The trade was a 1.42 % decrease in their position. The transaction was disclosed in a document filed 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 that occurred on Tuesday, March 18th. The shares were 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 in the company, valued at approximately $29,075,643.66. This represents a 1.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 142,034 shares of company stock valued at $3,261,817. 18.86% of the stock is currently owned by insiders.

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.