Lifeway Foods (NASDAQ:LWAY) Earns Hold Rating from Analysts at StockNews.com

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

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

Lifeway Foods Trading Up 0.3 %

LWAY stock opened at $24.26 on Friday. Lifeway Foods has a 1-year low of $9.93 and a 1-year high of $28.61. The stock has a 50-day moving average price of $25.20 and a 200-day moving average price of $18.92. The firm has a market cap of $359.53 million, a PE ratio of 28.21 and a beta of 1.05.

Insider Activity

In related news, major shareholder Ludmila Smolyansky sold 4,584 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 in the company, valued at approximately $21,222,482.95. The trade was a 0.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 18.86% of the company’s stock.

Institutional Investors Weigh In On Lifeway Foods

Several hedge funds and other institutional investors have recently modified their holdings of LWAY. Gamco Investors INC. ET AL grew its holdings in Lifeway Foods by 37.8% during the first quarter. Gamco Investors INC. ET AL now owns 109,700 shares of the company’s stock valued at $1,889,000 after purchasing an additional 30,100 shares during the period. Bank of New York Mellon Corp increased its holdings in Lifeway Foods by 56.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 58,589 shares of the company’s stock worth $748,000 after acquiring an additional 21,168 shares in the last quarter. Bailard Inc. bought a new stake in Lifeway Foods during the 2nd quarter worth approximately $253,000. Panagora Asset Management Inc. purchased a new position in Lifeway Foods during the second quarter valued at approximately $267,000. Finally, Rhumbline Advisers boosted its position in shares of Lifeway Foods by 2,334.0% in the second quarter. Rhumbline Advisers now owns 4,868 shares of the company’s stock worth $62,000 after purchasing an additional 4,668 shares during the period. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

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.