Equities researchers at StockNews.com assumed coverage on shares of Lifeway Foods (NASDAQ:LWAY - Get Free Report) in a research note issued on Sunday. The brokerage set a "hold" rating on the stock.
Lifeway Foods Trading Down 1.1 %
Shares of NASDAQ:LWAY traded down $0.24 during trading on Friday, hitting $22.58. 23,382 shares of the company's stock were exchanged, compared to its average volume of 55,486. The firm has a market cap of $334.55 million, a P/E ratio of 26.26 and a beta of 1.01. The firm has a 50-day moving average price of $23.50 and a two-hundred day moving average price of $22.13. Lifeway Foods has a 1-year low of $9.93 and a 1-year high of $28.61.
Insiders Place Their Bets
In other Lifeway Foods news, major shareholder Ludmila Smolyansky sold 30,000 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $22.24, for a total value of $667,200.00. Following the sale, the insider now directly owns 995,549 shares in the company, valued at approximately $22,141,009.76. This trade represents a 2.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 112,034 shares of company stock worth $2,584,117. Insiders own 18.86% of the company's stock.
Institutional Trading of Lifeway Foods
Several hedge funds have recently bought and sold shares of LWAY. Bank of Montreal Can bought a new stake in shares of Lifeway Foods during the second quarter worth $432,000. Marshall Wace LLP boosted its stake in Lifeway Foods by 48.5% in the 2nd quarter. Marshall Wace LLP now owns 100,217 shares of the company's stock worth $1,280,000 after purchasing an additional 32,742 shares during the period. Harbour Capital Advisors LLC acquired a new stake in shares of Lifeway Foods in the 3rd quarter valued at about $398,000. Cutter & CO Brokerage Inc. bought a new stake in shares of Lifeway Foods in the third quarter valued at about $212,000. Finally, Covestor Ltd acquired a new position in shares of Lifeway Foods during the third quarter worth about $50,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.
About Lifeway Foods
(
Get Free Report)
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.
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