Lifeway Foods (NASDAQ:LWAY) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Lifeway Foods, Inc. (NASDAQ:LWAY - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $23.13 and traded as high as $25.49. Lifeway Foods shares last traded at $25.08, with a volume of 30,527 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen initiated coverage on Lifeway Foods in a research note on Saturday, May 17th. They issued a "hold" rating for the company.

Lifeway Foods Trading Up 0.6%

The firm has a market cap of $376.47 million, a P/E ratio of 37.55 and a beta of 0.74. The business's fifty day simple moving average is $23.53 and its 200-day simple moving average is $23.15.

Lifeway Foods (NASDAQ:LWAY - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.19 by $0.04. The business had revenue of $46.09 million during the quarter, compared to analyst estimates of $48.50 million. Lifeway Foods had a return on equity of 14.20% and a net margin of 5.39%.

Insider Buying and Selling at Lifeway Foods

In related news, major shareholder Ludmila Smolyansky sold 17,948 shares of the company's stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $23.92, for a total value of $429,316.16. Following the completion of the transaction, the insider now owns 905,823 shares of the company's stock, valued at approximately $21,667,286.16. This represents a 1.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Pol Sikar sold 3,000 shares of Lifeway Foods 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 sale, the director now owns 23,858 shares in the company, valued at approximately $533,226.30. The trade was a 11.17% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,885 shares of company stock valued at $2,282,496. 18.86% of the stock is owned by company insiders.

Institutional Trading of Lifeway Foods

Large investors have recently modified their holdings of the company. Beryl Capital Management LLC purchased a new stake in shares of Lifeway Foods in the 4th quarter worth approximately $3,607,000. TIG Advisors LLC purchased a new stake in Lifeway Foods during the fourth quarter worth $3,512,000. Divisadero Street Capital Management LP bought a new stake in Lifeway Foods during the 4th quarter valued at $2,925,000. JPMorgan Chase & Co. increased its holdings in shares of Lifeway Foods by 712.8% in the 4th quarter. JPMorgan Chase & Co. now owns 85,959 shares of the company's stock valued at $2,132,000 after acquiring an additional 75,383 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of Lifeway Foods in the 1st quarter valued at $1,490,000. Hedge funds and other 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.