1,936 Shares in Lifeway Foods, Inc. (NASDAQ:LWAY) Acquired by Covestor Ltd

Covestor Ltd acquired a new position in shares of Lifeway Foods, Inc. (NASDAQ:LWAY) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,936 shares of the company’s stock, valued at approximately $50,000.

Several other large investors have also recently added to or reduced their stakes in LWAY. Rhumbline Advisers grew its position in shares of Lifeway Foods by 2,334.0% during the second quarter. Rhumbline Advisers now owns 4,868 shares of the company’s stock worth $62,000 after acquiring an additional 4,668 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Lifeway Foods in the second quarter valued at approximately $82,000. Cutter & CO Brokerage Inc. bought a new stake in shares of Lifeway Foods during the third quarter valued at approximately $212,000. Hillsdale Investment Management Inc. raised its holdings in shares of Lifeway Foods by 4.8% during the first quarter. Hillsdale Investment Management Inc. now owns 246,480 shares of the company’s stock valued at $4,244,000 after buying an additional 11,383 shares during the last quarter. Finally, Harbour Capital Advisors LLC bought a new position in Lifeway Foods in the 3rd quarter worth approximately $398,000. 36.39% of the stock is owned by institutional investors and hedge funds.

Lifeway Foods Price Performance

NASDAQ LWAY opened at $22.39 on Friday. Lifeway Foods, Inc. has a 12 month low of $9.93 and a 12 month high of $28.61. The firm has a market capitalization of $331.15 million, a PE ratio of 24.88 and a beta of 1.05. The company’s 50 day simple moving average is $24.80 and its 200 day simple moving average is $18.86.

Lifeway Foods (NASDAQ:LWAY) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.08. Lifeway Foods had a return on equity of 21.92% and a net margin of 7.69%. The company had revenue of $49.16 million for the quarter, compared to analysts’ expectations of $46.50 million. During the same period last year, the firm earned $0.21 EPS. Sell-side analysts anticipate that Lifeway Foods, Inc. will post 0.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. StockNews.com started coverage on Lifeway Foods in a research note on Thursday. They set a “hold” rating on the stock. Noble Financial cut shares of Lifeway Foods from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 24th.

Insider Buying and Selling

In other Lifeway Foods news, major shareholder Ludmila Smolyansky sold 4,584 shares of Lifeway Foods stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $19.55, for a total value of $89,617.20. Following the transaction, the insider now owns 1,085,549 shares in the company, valued at approximately $21,222,482.95. The trade was a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 18.86% of the stock is owned by corporate insiders.

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.