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

Equities researchers at StockNews.com initiated coverage on shares of Lifeway Foods (NASDAQ:LWAY) in a report released on Saturday. The firm set a “hold” rating on the stock.

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

Lifeway Foods Trading Down 1.5 %

Shares of Lifeway Foods stock opened at $24.45 on Friday. The business has a 50-day moving average price of $25.47 and a two-hundred day moving average price of $18.83. Lifeway Foods has a 1-year low of $9.93 and a 1-year high of $28.61. The company has a market cap of $362.35 million, a P/E ratio of 28.43 and a beta of 1.05.

Insiders Place Their Bets

In related news, major shareholder Ludmila Smolyansky sold 4,584 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $19.55, for a total transaction of $89,617.20. Following the transaction, the insider now directly owns 1,085,549 shares of the company’s stock, valued at approximately $21,222,482.95. This represents a 0.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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 LWAY. Bank of New York Mellon Corp lifted its holdings in shares of 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. Bailard Inc. bought a new position in shares of Lifeway Foods in the second quarter valued at $253,000. Panagora Asset Management Inc. acquired a new position in shares of Lifeway Foods during the second quarter valued at about $267,000. Rhumbline Advisers increased its position in shares of Lifeway Foods by 2,334.0% during the second quarter. Rhumbline Advisers now owns 4,868 shares of the company’s stock worth $62,000 after acquiring an additional 4,668 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Lifeway Foods by 184.0% in the 2nd 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. Institutional investors own 36.39% of the company’s stock.

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.