StockNews.com Begins Coverage on Lifeway Foods (NASDAQ:LWAY)

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

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

Lifeway Foods Trading Up 0.3 %

Shares of Lifeway Foods stock opened at $24.26 on Friday. Lifeway Foods has a 12 month low of $9.93 and a 12 month high of $28.61. The stock’s fifty day moving average price is $25.20 and its 200-day moving average price is $18.92. The firm has a market cap of $359.53 million, a P/E ratio of 28.21 and a beta of 1.05.

Insiders Place Their Bets

In other Lifeway Foods news, major shareholder Ludmila Smolyansky sold 4,584 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $19.55, for a total value of $89,617.20. Following the completion of the transaction, the insider now owns 1,085,549 shares of the company’s stock, valued at approximately $21,222,482.95. This trade represents a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 18.86% of the stock is owned by insiders.

Institutional Investors Weigh In On Lifeway Foods

A number of large investors have recently made changes to their positions in LWAY. Gamco Investors INC. ET AL raised its stake in Lifeway Foods by 37.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 109,700 shares of the company’s stock worth $1,889,000 after acquiring an additional 30,100 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Lifeway Foods by 56.6% in the second quarter. Bank of New York Mellon Corp now owns 58,589 shares of the company’s stock valued at $748,000 after purchasing an additional 21,168 shares during the period. Bailard Inc. acquired a new position in shares of Lifeway Foods in the second quarter valued at about $253,000. Panagora Asset Management Inc. purchased a new position in shares of Lifeway Foods in the second quarter worth about $267,000. Finally, Rhumbline Advisers lifted its holdings in shares of Lifeway Foods by 2,334.0% during 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 owned by hedge funds and other institutional investors.

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.