Lifeway Foods (NASDAQ:LWAY) Major Shareholder Edward Smolyansky Sells 6,357 Shares

Key Points

• Major shareholder Edward Smolyansky sold 6,357 shares of Lifeway Foods stock at an average price of $26.53, totaling approximately $168,651.
• The company reported a quarterly earnings per share of $0.28, exceeding analysts' expectations of $0.18, despite a revenue of $53.90 million falling short of the consensus estimate.
• An analyst report upgraded Lifeway Foods from a "hold" to a "buy" rating and set a new average price target of $33.00.

Lifeway Foods, Inc. (NASDAQ:LWAY - Get Free Report) major shareholder Edward Smolyansky sold 6,357 shares of the firm's stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $26.53, for a total transaction of $168,651.21. Following the sale, the insider directly owned 1,245,285 shares in the company, valued at approximately $33,037,411.05. The trade was a 0.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions 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 stock was sold at an average price of $26.69, for a total transaction of $266,900.00.

Lifeway Foods Price Performance

Shares of LWAY traded down $0.41 on Thursday, reaching $26.31. The company's stock had a trading volume of 94,694 shares, compared to its average volume of 66,220. The stock has a market capitalization of $400.70 million, a P/E ratio of 38.13 and a beta of 0.46. The stock's 50 day simple moving average is $28.96 and its two-hundred day simple moving average is $25.52. Lifeway Foods, Inc. has a 12-month low of $19.50 and a 12-month high of $34.20.

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, topping analysts' consensus estimates of $0.18 by $0.10. The company had revenue of $53.90 million for the quarter, compared to the consensus estimate of $54.00 million. Lifeway Foods had a net margin of 5.49% and a return on equity of 14.32%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Wall Street Zen raised shares of Lifeway Foods from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Lake Street Capital lifted their price target on shares of Lifeway Foods from $30.00 to $33.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Lifeway Foods presently has an average rating of "Buy" and an average target price of $33.00.

Institutional Investors Weigh In On Lifeway Foods

Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its position in shares of Lifeway Foods by 577.3% during the second quarter. BNP Paribas Financial Markets now owns 1,551 shares of the company's stock valued at $38,000 after buying an additional 1,322 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Lifeway Foods during the second quarter valued at approximately $40,000. Central Pacific Bank Trust Division bought a new stake in shares of Lifeway Foods during the second quarter valued at approximately $49,000. Byrne Asset Management LLC bought a new stake in shares of Lifeway Foods during the second quarter valued at approximately $53,000. Finally, Deutsche Bank AG bought a new stake in shares of Lifeway Foods during the first quarter valued at approximately $78,000. Institutional investors own 36.39% of the company's stock.

Lifeway Foods Company Profile

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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