Edward Smolyansky Sells 20,000 Shares of Lifeway Foods, Inc. (NASDAQ:LWAY) Stock

Lifeway Foods, Inc. (NASDAQ:LWAY) major shareholder Edward Smolyansky sold 20,000 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $23.23, for a total transaction of $464,600.00. Following the sale, the insider now owns 1,251,642 shares in the company, valued at approximately $29,075,643.66. The trade was a 1.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Lifeway Foods Trading Up 4.8 %

Shares of LWAY stock opened at $23.69 on Friday. Lifeway Foods, Inc. has a 12-month low of $10.06 and a 12-month high of $28.61. The firm’s 50 day moving average is $22.09 and its 200 day moving average is $23.51. The stock has a market capitalization of $350.99 million, a P/E ratio of 27.55 and a beta of 1.00.

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

Institutional Investors Weigh In On Lifeway Foods

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted its holdings in Lifeway Foods by 33.6% in the fourth quarter. Wells Fargo & Company MN now owns 2,855 shares of the company’s stock worth $71,000 after purchasing an additional 718 shares during the last quarter. BNP Paribas Financial Markets raised its position in Lifeway Foods by 71.2% in the third quarter. BNP Paribas Financial Markets now owns 2,778 shares of the company’s stock worth $72,000 after acquiring an additional 1,155 shares during the period. Rhumbline Advisers raised its position in Lifeway Foods by 23.3% in the fourth quarter. Rhumbline Advisers now owns 5,606 shares of the company’s stock worth $139,000 after acquiring an additional 1,059 shares during the period. Barclays PLC raised its position in Lifeway Foods by 40.5% in the third quarter. Barclays PLC now owns 6,420 shares of the company’s stock worth $167,000 after acquiring an additional 1,849 shares during the period. Finally, Sagefield Capital LP bought a new position in Lifeway Foods in the fourth quarter worth approximately $211,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Lifeway Foods in a report on Friday, March 14th. They set a “hold” rating on the 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.