Lifeway Foods (NASDAQ:LWAY) Major Shareholder Edward Smolyansky Sells 13,334 Shares of Stock

Lifeway Foods, Inc. (NASDAQ:LWAY) major shareholder Edward Smolyansky sold 13,334 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $20.60, for a total transaction of $274,680.40. Following the transaction, the insider directly owned 1,138,308 shares in the company, valued at $23,449,144.80. This represents a 1.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Edward Smolyansky also recently made the following trade(s):

• On Tuesday, March 17th, Edward Smolyansky sold 22,313 shares of Lifeway Foods stock. The shares were sold at an average price of $20.10, for a total transaction of $448,491.30.

Lifeway Foods Price Performance

Lifeway Foods stock opened at $18.49 on Thursday. The firm has a market cap of $281.60 million, a PE ratio of 20.54 and a beta of 0.13. The stock’s fifty day moving average price is $21.74 and its two-hundred day moving average price is $24.30. Lifeway Foods, Inc. has a one year low of $18.42 and a one year high of $34.20.

Lifeway Foods (NASDAQ:LWAY) last released its earnings results on Tuesday, March 17th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.13). Lifeway Foods had a net margin of 6.52% and a return on equity of 17.65%. The company had revenue of $55.36 million for the quarter, compared to the consensus estimate of $55.00 million.

Hedge Funds Weigh In On Lifeway Foods

Hedge funds have recently modified their holdings of the business. Larson Financial Group LLC acquired a new position in Lifeway Foods during the 3rd quarter worth about $31,000. BNP Paribas Financial Markets increased its stake in shares of Lifeway Foods by 577.3% in the second quarter. BNP Paribas Financial Markets now owns 1,551 shares of the company’s stock valued at $38,000 after buying an additional 1,322 shares during the period. New York State Common Retirement Fund raised its position in shares of Lifeway Foods by 433.3% during the third quarter. New York State Common Retirement Fund now owns 1,600 shares of the company’s stock worth $44,000 after acquiring an additional 1,300 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Lifeway Foods in the second quarter worth approximately $40,000. Finally, State of Alaska Department of Revenue lifted its stake in shares of Lifeway Foods by 302.0% in the fourth quarter. State of Alaska Department of Revenue now owns 2,967 shares of the company’s stock worth $71,000 after acquiring an additional 2,229 shares during the period. Institutional investors and hedge funds own 36.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LWAY shares. Wall Street Zen raised shares of Lifeway Foods from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Morgan Stanley set a $35.00 price objective on Lifeway Foods in a research report on Wednesday, January 14th. Benchmark reissued a “buy” rating on shares of Lifeway Foods in a report on Wednesday, January 14th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Lifeway Foods in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.33.

About Lifeway Foods

Lifeway Foods, Inc (NASDAQ: LWAY) is a Chicago-based food company specializing in probiotic-rich cultured dairy products. Established in 1986 by Michael Smolyansky, the company pioneered the introduction of kefir to the U.S. market. Under the leadership of CEO Julie Smolyansky, who succeeded her father in 2002, Lifeway has grown from a single product operation into a diversified portfolio of fermented foods and beverages aimed at promoting digestive health and wellness.

The company’s flagship product is kefir, a cultured milk beverage naturally rich in probiotics, vitamins and minerals.