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

Research analysts at StockNews.com began coverage on shares of Lifeway Foods (NASDAQ:LWAY) in a research report issued on Saturday. The brokerage 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 Stock Performance

LWAY stock opened at $24.45 on Friday. The firm has a market cap of $362.25 million, a P/E ratio of 28.43 and a beta of 1.05. The firm’s fifty day moving average is $25.47 and its 200 day moving average is $18.90. Lifeway Foods has a 52 week low of $9.93 and a 52 week high of $28.61.

Insider Buying and Selling

In related news, major shareholder Ludmila Smolyansky sold 4,584 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $19.55, for a total value of $89,617.20. Following the sale, the insider now directly owns 1,085,549 shares of the company’s stock, valued at $21,222,482.95. This trade represents a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 18.86% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LWAY. Bank of New York Mellon Corp increased its holdings in Lifeway Foods by 56.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 58,589 shares of the company’s stock valued at $748,000 after purchasing an additional 21,168 shares during the period. Bailard Inc. bought a new position in shares of Lifeway Foods during the second quarter valued at approximately $253,000. Panagora Asset Management Inc. bought a new position in shares of Lifeway Foods during the second quarter valued at approximately $267,000. Rhumbline Advisers raised its holdings 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 valued at $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% during the second quarter. Acadian Asset Management LLC now owns 46,184 shares of the company’s stock valued at $589,000 after acquiring an additional 29,922 shares in the last quarter. Hedge funds and other 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.