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

StockNews.com began coverage on shares of Lifeway Foods (NASDAQ:LWAY) in a research report issued to clients and investors on Tuesday. The brokerage set a “hold” rating on the stock.

Lifeway Foods Trading Down 4.5 %

Shares of Lifeway Foods stock opened at $22.22 on Tuesday. The stock’s fifty day moving average price is $23.02 and its 200-day moving average price is $22.83. The firm has a market cap of $329.30 million, a P/E ratio of 25.84 and a beta of 1.01. Lifeway Foods has a 12 month low of $9.93 and a 12 month high of $28.61.

Insider Activity

In other news, major shareholder Ludmila Smolyansky sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $21.31, for a total transaction 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 represents a 36.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 122,034 shares of company stock worth $2,797,217 in the last quarter. Corporate insiders own 18.86% of the company’s stock.

Institutional Trading of Lifeway Foods

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. acquired a new position in Lifeway Foods in the third quarter valued at approximately $679,000. Los Angeles Capital Management LLC purchased a new stake in Lifeway Foods in the third quarter valued at $1,237,000. BNP Paribas Financial Markets lifted its stake in shares of Lifeway Foods by 71.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,778 shares of the company’s stock valued at $72,000 after purchasing an additional 1,155 shares during the last quarter. State Street Corp grew its holdings in shares of Lifeway Foods by 28.9% during the 3rd quarter. State Street Corp now owns 53,683 shares of the company’s stock worth $1,391,000 after purchasing an additional 12,020 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Lifeway Foods during the 3rd quarter worth $1,270,000. 36.39% of the stock is owned by institutional investors and hedge funds.

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.