Gabelli Funds LLC Purchases New Shares in Lifeway Foods, Inc. (NASDAQ:LWAY)

Gabelli Funds LLC purchased a new position in shares of Lifeway Foods, Inc. (NASDAQ:LWAY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 16,268 shares of the company's stock, valued at approximately $403,000. Gabelli Funds LLC owned approximately 0.11% of Lifeway Foods as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of LWAY. JPMorgan Chase & Co. increased its holdings in Lifeway Foods by 712.8% in the fourth quarter. JPMorgan Chase & Co. now owns 85,959 shares of the company's stock valued at $2,132,000 after purchasing an additional 75,383 shares during the period. Slotnik Capital LLC acquired a new stake in shares of Lifeway Foods in the fourth quarter valued at about $1,314,000. Bank of Montreal Can bought a new position in shares of Lifeway Foods during the fourth quarter worth about $388,000. American Century Companies Inc. boosted its holdings in Lifeway Foods by 27.7% in the fourth quarter. American Century Companies Inc. now owns 69,302 shares of the company's stock valued at $1,719,000 after acquiring an additional 15,046 shares during the last quarter. Finally, Towerview LLC raised its holdings in Lifeway Foods by 75.0% during the 4th quarter. Towerview LLC now owns 35,000 shares of the company's stock worth $868,000 after purchasing an additional 15,000 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Lifeway Foods in a report on Wednesday. They issued a "hold" rating on the stock.

Insider Activity

In other Lifeway Foods news, major shareholder Ludmila Smolyansky sold 10,000 shares of the company's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $21.31, for a total transaction of $213,100.00. Following the transaction, the insider now owns 17,343 shares in the company, valued at approximately $369,579.33. This represents a 36.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Edward Smolyansky sold 20,000 shares of Lifeway Foods stock in a transaction dated 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 owns 1,251,642 shares of the company's stock, valued at $29,075,643.66. This represents a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,324 shares of company stock worth $1,539,957 in the last three months. Company insiders own 18.86% of the company's stock.

Lifeway Foods Stock Performance

Shares of Lifeway Foods stock traded down $0.29 on Friday, reaching $23.20. 32,990 shares of the company's stock were exchanged, compared to its average volume of 126,320. The firm's 50-day moving average is $22.78 and its two-hundred day moving average is $23.63. The company has a market capitalization of $352.71 million, a P/E ratio of 26.98 and a beta of 0.93. Lifeway Foods, Inc. has a 52 week low of $10.06 and a 52 week high of $28.61.

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

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.