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

StockNews.com began coverage on shares of Lifeway Foods (NASDAQ:LWAY) in a research report report published on Tuesday morning. The brokerage issued a hold rating on the stock.

Lifeway Foods Price Performance

Shares of Lifeway Foods stock opened at $23.27 on Tuesday. The business has a 50 day simple moving average of $23.08 and a two-hundred day simple moving average of $22.75. Lifeway Foods has a 12 month low of $9.93 and a 12 month high of $28.61. The stock has a market capitalization of $344.77 million, a P/E ratio of 27.06 and a beta of 1.01.

Insider Activity at Lifeway Foods

In other news, major shareholder Ludmila Smolyansky sold 45,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $23.49, for a total transaction of $1,057,050.00. Following the completion of the transaction, the insider now directly owns 1,025,549 shares in the company, valued at $24,090,146.01. This trade represents a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 122,034 shares of company stock valued at $2,797,217. 18.86% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its holdings in Lifeway Foods by 1.4% in the 4th quarter. Renaissance Technologies LLC now owns 436,371 shares of the company’s stock valued at $10,822,000 after purchasing an additional 6,189 shares in the last quarter. Beryl Capital Management LLC purchased a new stake in Lifeway Foods in the 4th quarter valued at approximately $3,607,000. TIG Advisors LLC purchased a new stake in Lifeway Foods in the 4th quarter valued at approximately $3,512,000. Gamco Investors INC. ET AL boosted its holdings in Lifeway Foods by 0.9% in the 4th quarter. Gamco Investors INC. ET AL now owns 120,350 shares of the company’s stock valued at $2,985,000 after purchasing an additional 1,050 shares in the last quarter. Finally, Divisadero Street Capital Management LP purchased a new stake in Lifeway Foods in the 4th quarter valued at approximately $2,925,000. 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.