Lifeway Foods (NASDAQ:LWAY) Major Shareholder Edward Smolyansky Sells 10,000 Shares

Lifeway Foods, Inc. (NASDAQ:LWAY) major shareholder Edward Smolyansky sold 10,000 shares of Lifeway Foods stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $26.69, for a total value of $266,900.00. Following the completion of the sale, the insider directly owned 1,235,285 shares in the company, valued at $32,969,756.65. This represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Tuesday, September 23rd, Edward Smolyansky sold 6,357 shares of Lifeway Foods stock. The stock was sold at an average price of $26.53, for a total transaction of $168,651.21.

Lifeway Foods Trading Down 1.5%

Shares of LWAY opened at $26.31 on Friday. Lifeway Foods, Inc. has a 12-month low of $19.50 and a 12-month high of $34.20. The firm has a market capitalization of $400.70 million, a P/E ratio of 38.13 and a beta of 0.46. The firm has a 50-day moving average price of $28.99 and a 200 day moving average price of $25.56.

Lifeway Foods (NASDAQ:LWAY) last released its quarterly earnings results on Tuesday, August 12th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.10. The business had revenue of $53.90 million during the quarter, compared to analysts’ expectations of $54.00 million. Lifeway Foods had a return on equity of 14.32% and a net margin of 5.49%.

Institutional Investors Weigh In On Lifeway Foods

A number of hedge funds and other institutional investors have recently modified their holdings of LWAY. TIG Advisors LLC raised its stake in Lifeway Foods by 55.9% in the first quarter. TIG Advisors LLC now owns 220,817 shares of the company’s stock valued at $5,399,000 after buying an additional 79,218 shares in the last quarter. Beryl Capital Management LLC grew its stake in Lifeway Foods by 33.3% during the 1st quarter. Beryl Capital Management LLC now owns 193,888 shares of the company’s stock worth $4,741,000 after buying an additional 48,439 shares during the last quarter. Gamco Investors INC. ET AL grew its position in shares of Lifeway Foods by 4.2% during the second quarter. Gamco Investors INC. ET AL now owns 149,550 shares of the company’s stock worth $3,686,000 after acquiring an additional 6,000 shares during the last quarter. Geode Capital Management LLC boosted its stake in Lifeway Foods by 6.6% during the 2nd quarter. Geode Capital Management LLC now owns 124,726 shares of the company’s stock worth $3,075,000 after purchasing an additional 7,718 shares during the period. Finally, Gabelli Funds LLC increased its stake in Lifeway Foods by 52.6% in the second quarter. Gabelli Funds LLC now owns 98,644 shares of the company’s stock valued at $2,432,000 after purchasing an additional 33,988 shares during the period. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LWAY has been the subject of several research analyst reports. Wall Street Zen upgraded Lifeway Foods from a “hold” rating to a “buy” rating in a research report on Saturday, August 16th. Lake Street Capital raised their price objective on shares of Lifeway Foods from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $33.00.

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.