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

StockNews.com assumed coverage on shares of Lifeway Foods (NASDAQ:LWAY - Free Report) in a report issued on Monday. The brokerage issued a hold rating on the stock.

Lifeway Foods Price Performance

Shares of LWAY traded down $0.17 during midday trading on Monday, reaching $23.22. The stock had a trading volume of 39,670 shares, compared to its average volume of 129,168. The firm's 50 day moving average price is $22.49 and its 200-day moving average price is $23.80. Lifeway Foods has a 52 week low of $10.06 and a 52 week high of $28.61. The company has a market capitalization of $353.01 million, a P/E ratio of 27.00 and a beta of 0.93.

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

Insider Buying and Selling

In related news, major shareholder Ludmila Smolyansky sold 30,000 shares of Lifeway Foods stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $22.24, for a total value of $667,200.00. Following the transaction, the insider now owns 995,549 shares of the company's stock, valued at approximately $22,141,009.76. This trade represents a 2.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction of $464,600.00. Following the sale, the insider now owns 1,251,642 shares in the company, valued at $29,075,643.66. This represents a 1.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,034 shares of company stock worth $1,842,967. Corporate insiders own 18.86% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LWAY. Point72 Asset Management L.P. acquired a new stake in Lifeway Foods in the third quarter valued at approximately $679,000. BNP Paribas Financial Markets grew 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 acquiring an additional 1,155 shares during the last quarter. State Street Corp grew 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 purchasing an additional 12,020 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Lifeway Foods by 451.4% during the third quarter. JPMorgan Chase & Co. now owns 10,576 shares of the company's stock valued at $274,000 after acquiring an additional 8,658 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Lifeway Foods by 1.8% during the third quarter. Geode Capital Management LLC now owns 115,971 shares of the company's stock valued at $3,006,000 after purchasing an additional 2,018 shares during the period. 36.39% of the stock is owned by hedge funds and other institutional investors.

Lifeway Foods Company 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.