StockNews.com Initiates Coverage on Lifeway Foods (NASDAQ:LWAY)

Research analysts at StockNews.com assumed coverage on shares of Lifeway Foods (NASDAQ:LWAY - Get Free Report) in a report released on Thursday. The brokerage set a "hold" rating on the stock.

Lifeway Foods Stock Down 0.3 %

Shares of LWAY opened at $23.68 on Thursday. The stock has a market capitalization of $360.01 million, a P/E ratio of 27.53 and a beta of 0.93. The firm has a fifty day simple moving average of $22.86 and a two-hundred day simple moving average of $23.57. Lifeway Foods has a twelve month low of $10.06 and a twelve month high of $28.61.

Lifeway Foods (NASDAQ:LWAY - Get Free Report) last released its quarterly earnings data on Friday, March 14th. The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.19). The firm had revenue of $46.93 million for the quarter, compared to the consensus estimate of $48.00 million. Lifeway Foods had a net margin of 7.23% and a return on equity of 19.97%.

Insider Buying and Selling at Lifeway Foods

In other news, major shareholder Edward Smolyansky sold 20,000 shares of the company's 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 directly owns 1,251,642 shares in the company, valued at $29,075,643.66. This represents a 1.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Ludmila Smolyansky sold 10,000 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $21.31, for a total value of $213,100.00. Following the completion of the sale, the insider now owns 17,343 shares of the company's stock, valued at $369,579.33. This trade represents a 36.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,324 shares of company stock worth $1,539,957. Insiders own 18.86% of the company's stock.

Institutional Investors Weigh In On Lifeway Foods

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in Lifeway Foods by 2.8% in the 1st quarter. Bank of New York Mellon Corp now owns 57,403 shares of the company's stock worth $1,403,000 after buying an additional 1,562 shares during the period. Rhumbline Advisers boosted its holdings in Lifeway Foods by 8.2% in the 1st quarter. Rhumbline Advisers now owns 6,068 shares of the company's stock worth $148,000 after buying an additional 462 shares during the period. Sagefield Capital LP bought a new position in Lifeway Foods in the 4th quarter worth $211,000. Lazard Asset Management LLC boosted its holdings in Lifeway Foods by 12.1% in the 4th quarter. Lazard Asset Management LLC now owns 14,826 shares of the company's stock worth $367,000 after buying an additional 1,605 shares during the period. Finally, Janus Henderson Group PLC bought a new position in Lifeway Foods in the 4th quarter worth $221,000. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

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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