StockNews.com assumed coverage on shares of Lifeway Foods (NASDAQ:LWAY - Free Report) in a research note issued to investors on Wednesday. The brokerage issued a hold rating on the stock.
Lifeway Foods Price Performance
Lifeway Foods stock traded up $0.12 during trading hours on Wednesday, hitting $21.15. The stock had a trading volume of 15,464 shares, compared to its average volume of 47,771. The stock has a market capitalization of $313.36 million, a price-to-earnings ratio of 24.59 and a beta of 1.01. Lifeway Foods has a 1-year low of $10.06 and a 1-year high of $28.61. The stock's fifty day moving average is $22.69 and its two-hundred day moving average is $23.25.
Insider Buying and Selling at Lifeway Foods
In other news, major shareholder Ludmila Smolyansky sold 10,000 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $21.31, for a total value of $213,100.00. Following the sale, the insider now directly owns 17,343 shares in the company, valued at $369,579.33. This represents a 36.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 122,034 shares of company stock valued at $2,797,217. Insiders own 18.86% of the company's stock.
Institutional Trading of Lifeway Foods
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sagefield Capital LP purchased a new stake in shares of Lifeway Foods in the fourth quarter valued at $211,000. Lazard Asset Management LLC lifted its position in shares of Lifeway Foods by 12.1% in the fourth quarter. Lazard Asset Management LLC now owns 14,826 shares of the company's stock valued at $367,000 after acquiring an additional 1,605 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Lifeway Foods in the fourth quarter valued at $221,000. Divisadero Street Capital Management LP purchased a new stake in shares of Lifeway Foods in the fourth quarter valued at $2,925,000. Finally, Beryl Capital Management LLC purchased a new stake in shares of Lifeway Foods in the fourth quarter valued at $3,607,000. 36.39% of the stock is currently owned by hedge funds and other institutional investors.
Lifeway Foods Company Profile
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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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