Gamco Investors INC. ET AL Has $3.51 Million Stake in Lifeway Foods, Inc. $LWAY

Key Points

• Gamco Investors INC. ET AL increased its stake in Lifeway Foods, Inc. by 19.3%, now holding 143,550 shares valued at approximately $3.51 million.
• Lifeway Foods reported earnings per share (EPS) of $0.28, exceeding estimates, with a revenue of $53.90 million for the quarter.
• Analysts have upgraded Lifeway Foods to a "buy" rating, with a new target price increased from $30.00 to $33.00.

Gamco Investors INC. ET AL boosted its holdings in shares of Lifeway Foods, Inc. (NASDAQ:LWAY - Free Report) by 19.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 143,550 shares of the company's stock after buying an additional 23,200 shares during the quarter. Gamco Investors INC. ET AL owned approximately 0.94% of Lifeway Foods worth $3,510,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JBF Capital Inc. acquired a new position in shares of Lifeway Foods in the first quarter valued at approximately $672,000. Rhumbline Advisers grew its position in shares of Lifeway Foods by 8.2% in the first quarter. Rhumbline Advisers now owns 6,068 shares of the company's stock valued at $148,000 after purchasing an additional 462 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Lifeway Foods in the first quarter valued at approximately $221,000. Beryl Capital Management LLC acquired a new position in shares of Lifeway Foods in the fourth quarter valued at approximately $3,607,000. Finally, Wells Fargo & Company MN grew its position in shares of Lifeway Foods by 33.6% in the fourth quarter. Wells Fargo & Company MN now owns 2,855 shares of the company's stock valued at $71,000 after purchasing an additional 718 shares during the last quarter. Institutional investors and hedge funds own 36.39% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LWAY. Wall Street Zen upgraded Lifeway Foods from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Lake Street Capital upped their target price on Lifeway Foods from $30.00 to $33.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Lifeway Foods currently has a consensus rating of "Moderate Buy" and an average price target of $33.00.

Lifeway Foods Trading Up 2.4%

NASDAQ LWAY traded up $0.72 on Wednesday, hitting $30.49. 20,410 shares of the company's stock were exchanged, compared to its average volume of 52,748. The stock has a 50-day moving average of $27.16 and a 200-day moving average of $24.54. Lifeway Foods, Inc. has a 52 week low of $19.50 and a 52 week high of $32.19. The stock has a market cap of $464.29 million, a price-to-earnings ratio of 44.18 and a beta of 0.46.

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

Insider Activity

In other news, Director Jason Scott Scher sold 16,366 shares of the company's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $24.24, for a total transaction of $396,711.84. Following the completion of the transaction, the director directly owned 1 shares in the company, valued at approximately $24.24. This represents a 99.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 18.86% 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.