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

StockNews.com started coverage on shares of Lifeway Foods (NASDAQ:LWAY) in a report released on Friday morning. The firm issued a hold rating on the stock.

Lifeway Foods Stock Down 1.8 %

Shares of Lifeway Foods stock opened at $20.06 on Friday. Lifeway Foods has a twelve month low of $10.06 and a twelve month high of $28.61. The company has a 50-day simple moving average of $22.09 and a two-hundred day simple moving average of $23.40. The stock has a market capitalization of $297.21 million, a price-to-earnings ratio of 23.33 and a beta of 1.00.

Lifeway Foods (NASDAQ:LWAY) last issued its quarterly earnings data 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). Lifeway Foods had a return on equity of 19.97% and a net margin of 7.23%. The business had revenue of $46.93 million during the quarter, compared to analyst estimates of $48.00 million.

Insiders Place Their Bets

In other news, major shareholder Ludmila Smolyansky sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $22.67, for a total value of $226,700.00. Following the completion of the transaction, the insider now directly owns 985,549 shares in the company, valued at approximately $22,342,395.83. The trade was a 1.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 122,034 shares of company stock worth $2,797,217 in the last quarter. 18.86% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lifeway Foods

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new position in shares of Lifeway Foods in the 3rd quarter valued at approximately $679,000. Los Angeles Capital Management LLC acquired a new position in shares of Lifeway Foods in the 3rd quarter valued at approximately $1,237,000. BNP Paribas Financial Markets raised its position in shares of Lifeway Foods by 71.2% in the 3rd 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 in the last quarter. State Street Corp grew its holdings in shares of Lifeway Foods by 28.9% during the 3rd quarter. State Street Corp now owns 53,683 shares of the company’s stock valued at $1,391,000 after purchasing an additional 12,020 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Lifeway Foods during the 3rd quarter valued at approximately $1,270,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

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.