Lifeway Foods, Inc. $LWAY Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in Lifeway Foods, Inc. by 37.3%, holding approximately 22,133 shares valued at $541,000 as of the latest SEC filing.
• Institutional investors hold 36.39% of Lifeway Foods' stock, with notable recent transactions including acquisitions by Beryl Capital Management and JPMorgan Chase & Co.
• Lifeway Foods reported an EPS of $0.28 for the last quarter, exceeding the consensus estimate by $0.10, while generating $53.90 million in revenue.

Connor Clark & Lunn Investment Management Ltd. lowered its position in Lifeway Foods, Inc. (NASDAQ:LWAY - Free Report) by 37.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,133 shares of the company's stock after selling 13,149 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.15% of Lifeway Foods worth $541,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Beryl Capital Management LLC purchased a new position in Lifeway Foods in the fourth quarter worth approximately $3,607,000. TIG Advisors LLC purchased a new position in Lifeway Foods in the fourth quarter worth approximately $3,512,000. Divisadero Street Capital Management LP acquired a new stake in Lifeway Foods during the fourth quarter worth approximately $2,925,000. JPMorgan Chase & Co. raised its holdings in Lifeway Foods by 712.8% during the fourth quarter. JPMorgan Chase & Co. now owns 85,959 shares of the company's stock worth $2,132,000 after purchasing an additional 75,383 shares in the last quarter. Finally, Towerview LLC raised its holdings in Lifeway Foods by 107.1% during the first quarter. Towerview LLC now owns 72,500 shares of the company's stock worth $1,773,000 after purchasing an additional 37,500 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company's stock.

Insiders Place Their Bets

In related news, Director Jason Scott Scher sold 16,366 shares of Lifeway Foods stock in a transaction on Friday, June 27th. The shares were sold at an average price of $24.24, for a total value of $396,711.84. Following the transaction, the director directly owned 1 shares in the company, valued at $24.24. This trade represents a 99.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 18.86% of the stock is currently owned by company insiders.

Lifeway Foods Trading Up 2.6%

Shares of Lifeway Foods stock traded up $0.81 during trading on Friday, reaching $31.73. The company's stock had a trading volume of 78,440 shares, compared to its average volume of 76,590. The company has a 50-day moving average price of $26.34 and a two-hundred day moving average price of $24.12. The firm has a market cap of $483.25 million, a PE ratio of 45.99 and a beta of 0.69. Lifeway Foods, Inc. has a fifty-two week low of $17.82 and a fifty-two week high of $32.19.

Lifeway Foods (NASDAQ:LWAY - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.10. Lifeway Foods had a net margin of 5.49% and a return on equity of 14.32%. The business had revenue of $53.90 million for the quarter, compared to analysts' expectations of $54.00 million.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Lake Street Capital raised their price objective on shares of Lifeway Foods from $30.00 to $33.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Wall Street Zen raised shares of Lifeway Foods from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Lifeway Foods currently has an average rating of "Moderate Buy" and an average price target of $29.00.

Lifeway Foods 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.