Lifeway Foods (NASDAQ:LWAY) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Lifeway Foods (NASDAQ:LWAY) in a report released on Friday morning. The brokerage issued a hold rating on the stock.

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

Lifeway Foods Trading Down 0.6 %

Shares of NASDAQ:LWAY opened at $24.12 on Friday. The company has a market cap of $357.29 million, a price-to-earnings ratio of 27.87 and a beta of 1.05. Lifeway Foods has a 12 month low of $9.93 and a 12 month high of $28.61. The company has a 50-day moving average price of $25.20 and a 200 day moving average price of $18.87.

Insider Buying and Selling

In related news, major shareholder Ludmila Smolyansky sold 4,584 shares of the firm’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 completion of the sale, the insider now directly owns 1,085,549 shares of the company’s stock, valued at approximately $21,222,482.95. This trade represents a 0.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 18.86% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lifeway Foods

Several hedge funds have recently bought and sold shares of the business. Barclays PLC boosted its stake in shares of Lifeway Foods by 40.5% during the third quarter. Barclays PLC now owns 6,420 shares of the company’s stock valued at $167,000 after purchasing an additional 1,849 shares during the period. Geode Capital Management LLC lifted its holdings in Lifeway Foods by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 115,971 shares of the company’s stock valued at $3,006,000 after buying an additional 2,018 shares in the last quarter. State Street Corp boosted its position in Lifeway Foods by 28.9% in the 3rd quarter. State Street Corp now owns 53,683 shares of the company’s stock valued at $1,391,000 after buying an additional 12,020 shares during the period. Point72 Asset Management L.P. bought a new position in Lifeway Foods in the 3rd quarter worth about $679,000. Finally, Harvest Management LLC purchased a new position in shares of Lifeway Foods during the third quarter worth approximately $518,000. 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.