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

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

Lifeway Foods Stock Up 2.2 %

Shares of NASDAQ:LWAY traded up $0.53 during midday trading on Friday, reaching $24.50. The company's stock had a trading volume of 128,189 shares, compared to its average volume of 136,961. The stock has a fifty day moving average of $22.15 and a 200 day moving average of $23.62. Lifeway Foods has a twelve month low of $10.06 and a twelve month high of $28.61. The firm has a market capitalization of $372.47 million, a PE ratio of 28.49 and a beta of 1.00.

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

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Insider Buying and Selling

In related news, major shareholder Ludmila Smolyansky sold 10,000 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $21.31, for a total value of $213,100.00. Following the completion of the sale, the insider now owns 17,343 shares of the company's stock, valued at approximately $369,579.33. The trade was a 36.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Edward Smolyansky sold 20,000 shares of the stock in a transaction 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 transaction, the insider now directly owns 1,251,642 shares in the company, valued at approximately $29,075,643.66. The trade was a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 142,034 shares of company stock valued at $3,261,817. Corporate insiders own 18.86% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LWAY. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Lifeway Foods during the 3rd quarter worth approximately $1,270,000. BNP Paribas Financial Markets grew its holdings in shares of Lifeway Foods by 71.2% during the third quarter. BNP Paribas Financial Markets now owns 2,778 shares of the company's stock worth $72,000 after buying an additional 1,155 shares in the last quarter. Corsair Capital Management L.P. purchased a new stake in Lifeway Foods during the 3rd quarter valued at about $393,000. De Lisle Partners LLP lifted its stake in Lifeway Foods by 30.7% in the 3rd quarter. De Lisle Partners LLP now owns 59,782 shares of the company's stock worth $1,552,000 after purchasing an additional 14,051 shares in the last quarter. Finally, Harvest Management LLC acquired a new position in shares of Lifeway Foods during the 3rd quarter worth approximately $518,000. Institutional investors and hedge funds own 36.39% of the company's stock.

About Lifeway Foods

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.