TIG Advisors LLC Takes Position in Lifeway Foods, Inc. (NASDAQ:LWAY)

TIG Advisors LLC purchased a new stake in shares of Lifeway Foods, Inc. (NASDAQ:LWAY - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 141,599 shares of the company's stock, valued at approximately $3,512,000. TIG Advisors LLC owned about 0.96% of Lifeway Foods as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LWAY. Wells Fargo & Company MN boosted its holdings in shares of Lifeway Foods by 33.6% in the 4th quarter. Wells Fargo & Company MN now owns 2,855 shares of the company's stock worth $71,000 after buying an additional 718 shares during the last quarter. Rhumbline Advisers boosted its stake in Lifeway Foods by 23.3% in the fourth quarter. Rhumbline Advisers now owns 5,606 shares of the company's stock valued at $139,000 after acquiring an additional 1,059 shares during the last quarter. Barclays PLC grew its position in shares of Lifeway Foods by 40.5% during the 3rd quarter. Barclays PLC now owns 6,420 shares of the company's stock valued at $167,000 after acquiring an additional 1,849 shares during the period. ClearAlpha Technologies LP purchased a new stake in shares of Lifeway Foods during the 4th quarter worth approximately $248,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Lifeway Foods by 451.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,576 shares of the company's stock worth $274,000 after purchasing an additional 8,658 shares during the period. 36.39% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Lifeway Foods news, major shareholder Edward Smolyansky sold 20,000 shares of Lifeway Foods stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $23.23, for a total transaction 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. The trade was a 1.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Ludmila Smolyansky sold 9,561 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $23.73, for a total transaction of $226,882.53. Following the completion of the transaction, the insider now directly owns 896,262 shares of the company's stock, valued at approximately $21,268,297.26. This represents a 1.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,885 shares of company stock valued at $1,766,840. Company insiders own 18.86% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Lifeway Foods in a research report on Thursday. They set a "hold" rating for the company.

Lifeway Foods Trading Down 0.6 %

Shares of NASDAQ LWAY traded down $0.15 during mid-day trading on Friday, hitting $23.56. The company had a trading volume of 28,637 shares, compared to its average volume of 120,547. Lifeway Foods, Inc. has a 1 year low of $10.06 and a 1 year high of $28.61. The company has a market capitalization of $358.18 million, a price-to-earnings ratio of 27.40 and a beta of 0.93. The stock's 50-day moving average price is $22.96 and its 200-day moving average price is $23.50.

Lifeway Foods (NASDAQ:LWAY - Get Free Report) last posted its earnings results 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). Lifeway Foods had a net margin of 7.23% and a return on equity of 19.97%. The company had revenue of $46.93 million for the quarter, compared to analysts' expectations of $48.00 million.

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.