Corsair Capital Management L.P. Purchases New Stake in Lifeway Foods, Inc. (NASDAQ:LWAY)

Corsair Capital Management L.P. purchased a new stake in Lifeway Foods, Inc. (NASDAQ:LWAY) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 15,143 shares of the company’s stock, valued at approximately $393,000.

Several other hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its stake in Lifeway Foods by 71.2% in the third quarter. BNP Paribas Financial Markets now owns 2,778 shares of the company’s stock valued at $72,000 after buying an additional 1,155 shares during the period. Covestor Ltd acquired a new stake in shares of Lifeway Foods during the third quarter worth about $50,000. Rhumbline Advisers raised its position in shares of 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 period. Quest Partners LLC acquired a new stake in shares of Lifeway Foods during the second quarter worth about $82,000. Finally, Cutter & CO Brokerage Inc. acquired a new stake in shares of Lifeway Foods during the third quarter worth about $212,000. Institutional investors own 36.39% of the company’s stock.

Wall Street Analyst Weigh In

LWAY has been the subject of a number of research reports. Noble Financial downgraded Lifeway Foods from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 24th. StockNews.com initiated coverage on Lifeway Foods in a research note on Friday, November 22nd. They issued a “hold” rating for the company.

Lifeway Foods Trading Up 1.9 %

Shares of NASDAQ LWAY opened at $24.57 on Wednesday. Lifeway Foods, Inc. has a 12 month low of $9.93 and a 12 month high of $28.61. The stock has a 50 day moving average of $25.29 and a 200-day moving average of $18.83. The company has a market capitalization of $364.13 million, a P/E ratio of 28.57 and a beta of 1.05.

Insider Buying and Selling

In other Lifeway Foods news, major shareholder Ludmila Smolyansky sold 4,584 shares of Lifeway Foods stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $19.55, for a total value of $89,617.20. Following the completion of the transaction, the insider now directly owns 1,085,549 shares of the company’s stock, valued at $21,222,482.95. The trade was a 0.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 18.86% of the stock is currently owned by insiders.

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.