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

Equities researchers at StockNews.com began coverage on shares of Lifeway Foods (NASDAQ:LWAY) in a report released on Friday. The firm 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 Price Performance

Shares of LWAY stock opened at $22.39 on Friday. The company’s 50-day simple moving average is $23.79 and its two-hundred day simple moving average is $21.02. Lifeway Foods has a one year low of $9.93 and a one year high of $28.61. The company has a market capitalization of $331.82 million, a P/E ratio of 26.03 and a beta of 1.02.

Insider Activity

In other news, major shareholder Ludmila Smolyansky sold 45,000 shares of Lifeway Foods 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 transaction, the insider now directly owns 1,025,549 shares in the company, valued at approximately $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 can be accessed through this hyperlink. In the last quarter, insiders sold 90,000 shares of company stock worth $2,086,050. 18.86% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lifeway Foods

Institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its position in shares of Lifeway Foods by 7.1% during the second quarter. Renaissance Technologies LLC now owns 454,682 shares of the company’s stock valued at $5,806,000 after buying an additional 30,000 shares during the last quarter. Geode Capital Management LLC raised its stake 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 worth $3,006,000 after acquiring an additional 2,018 shares in the last quarter. Marshall Wace LLP lifted its position in Lifeway Foods by 48.5% during the second quarter. Marshall Wace LLP now owns 100,217 shares of the company’s stock valued at $1,280,000 after acquiring an additional 32,742 shares during the last quarter. De Lisle Partners LLP boosted its stake in Lifeway Foods by 30.7% in the third quarter. De Lisle Partners LLP now owns 59,782 shares of the company’s stock valued at $1,552,000 after acquiring an additional 14,051 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Lifeway Foods by 56.6% in the second quarter. Bank of New York Mellon Corp now owns 58,589 shares of the company’s stock worth $748,000 after purchasing an additional 21,168 shares during the last quarter. 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.