Lifeway Foods, Inc. (NASDAQ:LWAY) Major Shareholder Sells $464,600.00 in Stock

Lifeway Foods, Inc. (NASDAQ:LWAY) major shareholder Edward Smolyansky sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $23.23, for a total value of $464,600.00. Following the sale, the insider now owns 1,251,642 shares of the company’s stock, valued at approximately $29,075,643.66. This trade represents a 1.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Lifeway Foods Trading Up 0.7 %

Shares of NASDAQ LWAY opened at $23.85 on Friday. The stock has a market cap of $353.36 million, a PE ratio of 27.73 and a beta of 1.00. Lifeway Foods, Inc. has a 12-month low of $10.06 and a 12-month high of $28.61. The company has a 50-day moving average of $22.12 and a 200 day moving average of $23.54.

Lifeway Foods (NASDAQ:LWAY) last posted its quarterly earnings results on Friday, March 14th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.19). Lifeway Foods had a net margin of 7.23% and a return on equity of 19.97%. The company had revenue of $46.93 million during the quarter, compared to analysts’ expectations of $48.00 million.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Lifeway Foods in a research report on Saturday. They set a “hold” rating for the company.

Institutional Trading of Lifeway Foods

Hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. acquired a new position in shares of Lifeway Foods during the 3rd quarter valued at about $679,000. BNP Paribas Financial Markets raised its stake in Lifeway Foods by 71.2% during the third quarter. BNP Paribas Financial Markets now owns 2,778 shares of the company’s stock worth $72,000 after purchasing an additional 1,155 shares during the period. State Street Corp boosted its holdings 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 purchasing an additional 12,020 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Lifeway Foods in the 3rd quarter valued at approximately $1,270,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Lifeway Foods by 451.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,576 shares of the company’s stock worth $274,000 after buying an additional 8,658 shares during the last quarter. 36.39% of the stock is owned by institutional investors and hedge funds.

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.