Lifeway Foods (NASDAQ:LWAY) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Lifeway Foods (NASDAQ:LWAY) in a research report sent to investors on Thursday. The firm issued a hold rating on the stock.

Separately, Noble Financial cut Lifeway Foods from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 24th.

Lifeway Foods Price Performance

Shares of LWAY stock opened at $23.00 on Thursday. The company has a market cap of $340.77 million, a price-to-earnings ratio of 26.74 and a beta of 1.02. Lifeway Foods has a 1 year low of $9.93 and a 1 year high of $28.61. The firm has a fifty day moving average price of $24.07 and a 200-day moving average price of $20.68.

Insider Activity

In other Lifeway Foods news, major shareholder Ludmila Smolyansky sold 15,000 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $24.12, for a total value of $361,800.00. Following the completion of the sale, the insider now owns 1,040,549 shares in the company, valued at approximately $25,098,041.88. This represents a 1.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 18.86% of the company’s stock.

Hedge Funds Weigh In On Lifeway Foods

A number of hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its holdings in Lifeway Foods by 56.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 58,589 shares of the company’s stock worth $748,000 after purchasing an additional 21,168 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Lifeway Foods by 2,334.0% in the second quarter. Rhumbline Advisers now owns 4,868 shares of the company’s stock worth $62,000 after buying an additional 4,668 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Lifeway Foods by 184.0% during the second quarter. Acadian Asset Management LLC now owns 46,184 shares of the company’s stock worth $589,000 after acquiring an additional 29,922 shares during the last quarter. Quest Partners LLC purchased a new position in Lifeway Foods during the second quarter valued at $82,000. Finally, American Century Companies Inc. bought a new stake in Lifeway Foods in the 2nd quarter valued at $593,000. 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.