StockNews.com Initiates Coverage on Lifeway Foods (NASDAQ:LWAY)

StockNews.com assumed coverage on shares of Lifeway Foods (NASDAQ:LWAY - Free Report) in a research note released on Thursday. The firm issued a hold rating on the stock.

Lifeway Foods Stock Performance

Shares of LWAY stock traded up $0.29 on Thursday, reaching $21.20. 33,796 shares of the company's stock traded hands, compared to its average volume of 137,633. Lifeway Foods has a 12-month low of $10.06 and a 12-month high of $28.61. The company has a market capitalization of $314.10 million, a P/E ratio of 24.65 and a beta of 1.00. The business's 50 day moving average price is $22.48 and its two-hundred day moving average price is $23.37.

Insider Buying and Selling at Lifeway Foods

In other Lifeway Foods news, major shareholder Ludmila Smolyansky sold 10,000 shares of the business's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $21.31, for a total value of $213,100.00. Following the transaction, the insider now owns 17,343 shares in the company, valued at $369,579.33. The trade was a 36.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 122,034 shares of company stock worth $2,797,217 over the last 90 days. 18.86% of the stock is currently owned by corporate insiders.

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Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC grew its stake in Lifeway Foods by 1.4% in the fourth quarter. Renaissance Technologies LLC now owns 436,371 shares of the company's stock valued at $10,822,000 after purchasing an additional 6,189 shares in the last quarter. Beryl Capital Management LLC purchased a new position in Lifeway Foods in the fourth quarter valued at about $3,607,000. TIG Advisors LLC purchased a new position in Lifeway Foods in the fourth quarter valued at about $3,512,000. Gamco Investors INC. ET AL grew its stake in Lifeway Foods by 0.9% in the fourth quarter. Gamco Investors INC. ET AL now owns 120,350 shares of the company's stock valued at $2,985,000 after purchasing an additional 1,050 shares in the last quarter. Finally, Divisadero Street Capital Management LP purchased a new position in Lifeway Foods in the fourth quarter valued at about $2,925,000. Hedge funds and other institutional investors own 36.39% of the company's stock.

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.