Lifeway Foods, Inc. (NASDAQ:LWAY) Sees Significant Decrease in Short Interest

Lifeway Foods, Inc. (NASDAQ:LWAY - Get Free Report) was the target of a significant decrease in short interest in the month of May. As of May 15th, there was short interest totalling 170,300 shares, a decrease of 16.6% from the April 30th total of 204,100 shares. Based on an average daily volume of 51,400 shares, the days-to-cover ratio is presently 3.3 days. Currently, 3.4% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, Wall Street Zen started coverage on shares of Lifeway Foods in a report on Saturday, May 17th. They issued a "hold" rating on the stock.

Lifeway Foods Trading Up 3.7%

Shares of NASDAQ:LWAY traded up $0.87 during mid-day trading on Thursday, reaching $24.60. The stock had a trading volume of 34,117 shares, compared to its average volume of 50,730. The firm has a market cap of $373.99 million, a PE ratio of 28.60 and a beta of 0.75. The firm has a 50 day simple moving average of $23.32 and a two-hundred day simple moving average of $23.12. Lifeway Foods has a twelve month low of $10.06 and a twelve month high of $27.29.

Lifeway Foods (NASDAQ:LWAY - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. Lifeway Foods had a net margin of 7.23% and a return on equity of 19.97%. The company had revenue of $46.09 million for the quarter, compared to the consensus estimate of $48.50 million.

Insider Buying and Selling

In related news, Director Pol Sikar sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $22.35, for a total transaction of $67,050.00. Following the transaction, the director now directly owns 23,858 shares of the company's stock, valued at approximately $533,226.30. The trade was a 11.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Julie Smolyansky sold 50,000 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $22.07, for a total transaction of $1,103,500.00. Following the transaction, the chief executive officer now directly owns 2,132,483 shares in the company, valued at $47,063,899.81. The trade was a 2.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,885 shares of company stock valued at $2,747,096 over the last 90 days. 18.86% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lifeway Foods

Several hedge funds and other institutional investors have recently made changes to their positions in LWAY. Rhumbline Advisers boosted its position in Lifeway Foods by 23.3% during the fourth quarter. Rhumbline Advisers now owns 5,606 shares of the company's stock worth $139,000 after purchasing an additional 1,059 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Lifeway Foods by 1.6% during the fourth quarter. Bank of New York Mellon Corp now owns 55,841 shares of the company's stock worth $1,385,000 after buying an additional 868 shares in the last quarter. Towerview LLC lifted its holdings in shares of Lifeway Foods by 75.0% during the fourth quarter. Towerview LLC now owns 35,000 shares of the company's stock worth $868,000 after buying an additional 15,000 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Lifeway Foods by 27.7% during the fourth quarter. American Century Companies Inc. now owns 69,302 shares of the company's stock worth $1,719,000 after buying an additional 15,046 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of 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 buying an additional 75,383 shares in the last quarter. 36.39% of the stock is owned by 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.