Lifeway Foods (NASDAQ:LWAY) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Lifeway Foods (NASDAQ:LWAY - Free Report) in a report issued on Friday. The brokerage issued a hold rating on the stock.

Lifeway Foods Trading Down 8.0%

Shares of LWAY stock traded down $1.96 during midday trading on Friday, reaching $22.45. 159,340 shares of the stock were exchanged, compared to its average volume of 116,733. The firm has a market cap of $341.31 million, a PE ratio of 26.10 and a beta of 0.75. The company's 50 day moving average is $23.30 and its two-hundred day moving average is $23.38. Lifeway Foods has a 1 year low of $10.06 and a 1 year high of $28.10.

Lifeway Foods (NASDAQ:LWAY - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported $0.23 earnings per share for the quarter. Lifeway Foods had a net margin of 7.23% and a return on equity of 19.97%.

Insider Activity at Lifeway Foods

In other Lifeway Foods news, major shareholder Edward Smolyansky sold 20,000 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $23.23, for a total value of $464,600.00. Following the completion of the sale, the insider now owns 1,251,642 shares in the company, valued at approximately $29,075,643.66. This represents a 1.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Ludmila Smolyansky sold 10,000 shares of Lifeway Foods stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $23.51, for a total value of $235,100.00. Following the sale, the insider now directly owns 955,823 shares in the company, valued at $22,471,398.73. This trade represents a 1.04% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,885 shares of company stock valued at $1,553,740. 18.86% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lifeway Foods

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC grew its holdings in shares of Lifeway Foods by 1.4% in the fourth quarter. Renaissance Technologies LLC now owns 436,371 shares of the company's stock valued at $10,822,000 after purchasing an additional 6,189 shares in the last quarter. Beryl Capital Management LLC bought a new stake in Lifeway Foods during the 4th quarter valued at $3,607,000. TIG Advisors LLC purchased a new stake in Lifeway Foods in the fourth quarter worth about $3,512,000. Gamco Investors INC. ET AL boosted its stake in shares of Lifeway Foods by 0.9% during the fourth quarter. Gamco Investors INC. ET AL now owns 120,350 shares of the company's stock valued at $2,985,000 after purchasing an additional 1,050 shares in the last quarter. Finally, Divisadero Street Capital Management LP purchased a new position in shares of Lifeway Foods in the 4th quarter valued at $2,925,000. Institutional investors own 36.39% 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.