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

StockNews.com began coverage on shares of Lifeway Foods (NASDAQ:LWAY) in a research note published on Sunday. The firm issued a hold rating on the stock.

Lifeway Foods Stock Down 0.2 %

Shares of NASDAQ LWAY opened at $24.53 on Friday. The business has a 50-day simple moving average of $22.32 and a two-hundred day simple moving average of $23.71. Lifeway Foods has a 52 week low of $10.06 and a 52 week high of $28.61. The company has a market cap of $372.93 million, a P/E ratio of 28.52 and a beta of 1.00.

Lifeway Foods (NASDAQ:LWAY) last released its quarterly earnings data on Friday, March 14th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.19). The firm had revenue of $46.93 million during 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 Buying and Selling

In other Lifeway Foods news, 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 completion of the transaction, the insider now owns 1,251,642 shares of the company’s stock, valued at $29,075,643.66. The trade was a 1.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ludmila Smolyansky sold 10,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $22.67, for a total transaction of $226,700.00. Following the completion of the transaction, the insider now directly owns 985,549 shares in the company, valued at $22,342,395.83. The trade was a 1.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 142,034 shares of company stock worth $3,261,817. Corporate insiders own 18.86% of the company’s stock.

Institutional Inflows and Outflows

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

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.