Renaissance Technologies LLC Purchases 30,000 Shares of Lifeway Foods, Inc. (NASDAQ:LWAY)

Renaissance Technologies LLC grew its holdings in shares of Lifeway Foods, Inc. (NASDAQ:LWAY - Free Report) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 454,682 shares of the company's stock after acquiring an additional 30,000 shares during the quarter. Renaissance Technologies LLC owned about 3.09% of Lifeway Foods worth $5,806,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Rhumbline Advisers lifted its stake in 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 purchasing an additional 4,668 shares during the last quarter. Quest Partners LLC bought a new stake in Lifeway Foods in the 2nd quarter worth approximately $82,000. Bailard Inc. purchased a new stake in Lifeway Foods in the second quarter worth approximately $253,000. Panagora Asset Management Inc. bought a new position in Lifeway Foods during the second quarter valued at approximately $267,000. Finally, Cornercap Investment Counsel Inc. purchased a new position in shares of Lifeway Foods during the second quarter worth approximately $539,000. Hedge funds and other institutional investors own 36.39% of the company's stock.

Insider Buying and Selling at Lifeway Foods

In other news, major shareholder Ludmila Smolyansky sold 14,620 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $12.30, for a total value of $179,826.00. Following the transaction, the insider now owns 1,125,133 shares in the company, valued at approximately $13,839,135.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Lifeway Foods news, CFO Eric A. Hanson sold 5,546 shares of the company's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $18.91, for a total value of $104,874.86. Following the completion of the sale, the chief financial officer now owns 25,546 shares in the company, valued at $483,074.86. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Ludmila Smolyansky sold 14,620 shares of the firm's stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $12.30, for a total value of $179,826.00. Following the completion of the transaction, the insider now directly owns 1,125,133 shares in the company, valued at approximately $13,839,135.90. The disclosure for this sale can be found here. Insiders sold a total of 52,698 shares of company stock worth $887,612 in the last three months. 31.77% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. StockNews.com downgraded Lifeway Foods from a "buy" rating to a "hold" rating in a report on Sunday, September 8th. Noble Financial downgraded Lifeway Foods from an "outperform" rating to a "market perform" rating in a research report on Tuesday.

Lifeway Foods Stock Down 1.1 %

Lifeway Foods stock traded down $0.30 during trading hours on Friday, hitting $25.97. The stock had a trading volume of 216,618 shares, compared to its average volume of 152,632. The stock's 50-day moving average price is $17.56 and its 200-day moving average price is $16.90. The stock has a market capitalization of $381.94 million, a P/E ratio of 30.20 and a beta of 1.02. Lifeway Foods, Inc. has a 12-month low of $9.06 and a 12-month high of $28.61.

Lifeway Foods (NASDAQ:LWAY - Get Free Report) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.17 by $0.08. The company had revenue of $49.16 million for the quarter, compared to analysts' expectations of $46.50 million. Lifeway Foods had a return on equity of 21.92% and a net margin of 7.69%. During the same period last year, the firm posted $0.21 earnings per share. On average, research analysts expect that Lifeway Foods, Inc. will post 0.99 EPS for the current fiscal year.

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.