Insider Buying: Lifeway Foods (NASDAQ:LWAY) Major Shareholder Acquires 33,174 Shares of Stock

Lifeway Foods, Inc. (NASDAQ:LWAY) major shareholder Divisadero Street Capital Mana bought 33,174 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average cost of $25.27 per share, for a total transaction of $838,306.98. Following the transaction, the insider owned 2,101,540 shares of the company’s stock, valued at $53,105,915.80. The trade was a 1.60% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Divisadero Street Capital Mana also recently made the following trade(s):

• On Thursday, May 14th, Divisadero Street Capital Mana bought 131,871 shares of Lifeway Foods stock. The shares were bought at an average cost of $25.50 per share, for a total transaction of $3,362,710.50.

Lifeway Foods Stock Down 1.7%

Shares of NASDAQ:LWAY traded down $0.41 during mid-day trading on Monday, hitting $23.80. 287,819 shares of the company traded hands, compared to its average volume of 127,816. The stock has a market cap of $363.66 million, a P/E ratio of 24.54 and a beta of 0.53. The company has a current ratio of 2.14, a quick ratio of 1.56 and a debt-to-equity ratio of 0.08. Lifeway Foods, Inc. has a 12-month low of $17.31 and a 12-month high of $34.20. The stock has a 50-day moving average price of $23.14 and a two-hundred day moving average price of $22.95.

Lifeway Foods (NASDAQ:LWAY) last announced its earnings results on Thursday, May 14th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $63.01 million for the quarter, compared to analysts’ expectations of $60.80 million. Lifeway Foods had a return on equity of 17.76% and a net margin of 6.54%.

Wall Street Analyst Weigh In

Several research firms have weighed in on LWAY. Weiss Ratings raised Lifeway Foods from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday. Wall Street Zen lowered Lifeway Foods from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Lifeway Foods currently has an average rating of “Moderate Buy” and a consensus price target of $34.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC bought a new position in shares of Lifeway Foods during the 3rd quarter valued at approximately $31,000. BNP Paribas Financial Markets raised its holdings in shares of Lifeway Foods by 577.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,551 shares of the company’s stock worth $38,000 after purchasing an additional 1,322 shares during the period. Raymond James Financial Inc. purchased a new position in Lifeway Foods in the second quarter valued at approximately $40,000. New York State Common Retirement Fund grew its holdings in 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 valued at $44,000 after purchasing an additional 1,300 shares during the period. Finally, State of Alaska Department of Revenue increased its position in 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 buying an additional 2,229 shares during the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

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.