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

Research analysts at StockNews.com initiated coverage on shares of Lifeway Foods (NASDAQ:LWAY) in a research report issued to clients and investors on Thursday. The brokerage set 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 Stock Down 0.4 %

Lifeway Foods stock opened at $23.00 on Thursday. Lifeway Foods has a 52-week low of $9.93 and a 52-week high of $28.61. The company has a market cap of $340.77 million, a P/E ratio of 26.74 and a beta of 1.02. The business has a 50-day simple moving average of $24.22 and a two-hundred day simple moving average of $20.65.

Insider Transactions at Lifeway Foods

In related 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 value of $1,057,050.00. Following the completion of the transaction, the insider now owns 1,025,549 shares in the company, valued at $24,090,146.01. This trade represents a 4.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 18.86% of the company’s stock.

Institutional Trading of Lifeway Foods

A number of hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in Lifeway Foods by 451.4% in the third quarter. JPMorgan Chase & Co. now owns 10,576 shares of the company’s stock valued at $274,000 after purchasing an additional 8,658 shares during the period. Barclays PLC boosted its stake in Lifeway Foods by 40.5% during the third quarter. Barclays PLC now owns 6,420 shares of the company’s stock worth $167,000 after buying an additional 1,849 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of 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 acquiring an additional 2,018 shares during the last quarter. State Street Corp raised its stake in Lifeway Foods by 28.9% during the third 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, Point72 Asset Management L.P. acquired a new position in Lifeway Foods in the 3rd quarter valued at about $679,000. Hedge funds and other 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.