Insider Selling: Lifeway Foods (NASDAQ:LWAY) Major Shareholder Sells 83,643 Shares of Stock

Key Points

• Edward Smolyansky, a major shareholder of Lifeway Foods, sold 83,643 shares at an average price of $25.91, totaling approximately $2.17 million, reducing his ownership by 6.77%.
• Lifeway Foods recently reported earnings of $0.28 per share for the quarter, exceeding estimates, with a revenue close to analysts' expectations at $53.90 million.
• LWAY's stock has seen upgrades from analysts, with Lake Street Capital increasing its price target from $30 to $33 and giving the stock a "buy" rating.

Lifeway Foods, Inc. (NASDAQ:LWAY - Get Free Report) major shareholder Edward Smolyansky sold 83,643 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $25.91, for a total value of $2,167,190.13. Following the completion of the sale, the insider directly owned 1,151,642 shares of the company's stock, valued at $29,839,044.22. The trade was a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Edward Smolyansky also recently made the following trade(s):

• On Wednesday, September 24th, Edward Smolyansky sold 10,000 shares of Lifeway Foods stock. The shares were sold at an average price of $26.69, for a total value of $266,900.00.
• On Tuesday, September 23rd, Edward Smolyansky sold 6,357 shares of Lifeway Foods stock. The shares were sold at an average price of $26.53, for a total value of $168,651.21.

Lifeway Foods Price Performance

Shares of NASDAQ:LWAY traded down $0.20 during trading on Friday, hitting $25.45. The company had a trading volume of 71,821 shares, compared to its average volume of 69,406. The stock has a market cap of $387.53 million, a price-to-earnings ratio of 36.88 and a beta of 0.46. Lifeway Foods, Inc. has a one year low of $19.50 and a one year high of $34.20. The company has a fifty day simple moving average of $29.13 and a two-hundred day simple moving average of $25.76.

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

Analyst Upgrades and Downgrades

LWAY has been the subject of a number of research analyst reports. Lake Street Capital raised their price target on Lifeway Foods from $30.00 to $33.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Wall Street Zen upgraded Lifeway Foods from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Lifeway Foods in a report on Saturday, September 27th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $33.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its stake in Lifeway Foods by 577.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,551 shares of the company's stock valued at $38,000 after purchasing an additional 1,322 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Lifeway Foods during the 2nd quarter valued at about $40,000. Central Pacific Bank Trust Division purchased a new stake in Lifeway Foods during the 2nd quarter valued at about $49,000. Byrne Asset Management LLC purchased a new stake in Lifeway Foods during the 2nd quarter valued at about $53,000. Finally, Deutsche Bank AG purchased a new stake in Lifeway Foods during the 1st quarter valued at about $78,000. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

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.

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