Lifeway Foods, Inc. $LWAY Shares Bought by Towerview LLC

Towerview LLC grew its holdings in Lifeway Foods, Inc. (NASDAQ:LWAY) by 8.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 78,500 shares of the company’s stock after buying an additional 6,000 shares during the period. Lifeway Foods accounts for approximately 1.4% of Towerview LLC’s holdings, making the stock its 10th largest holding. Towerview LLC’s holdings in Lifeway Foods were worth $1,935,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. TIG Advisors LLC raised its holdings in Lifeway Foods by 55.9% in the 1st 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 during the period. Beryl Capital Management LLC increased its position in shares of Lifeway Foods by 33.3% during the first quarter. Beryl Capital Management LLC now owns 193,888 shares of the company’s stock valued at $4,741,000 after acquiring an additional 48,439 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in shares of Lifeway Foods by 19.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 143,550 shares of the company’s stock valued at $3,510,000 after acquiring an additional 23,200 shares during the period. Slotnik Capital LLC raised its stake in shares of Lifeway Foods by 82.5% in the 1st quarter. Slotnik Capital LLC now owns 96,746 shares of the company’s stock valued at $2,365,000 after acquiring an additional 43,746 shares during the period. Finally, Gabelli Funds LLC lifted its holdings in shares of Lifeway Foods by 297.4% in the 1st quarter. Gabelli Funds LLC now owns 64,656 shares of the company’s stock worth $1,581,000 after acquiring an additional 48,388 shares during the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

Lifeway Foods Stock Performance

LWAY opened at $24.53 on Friday. Lifeway Foods, Inc. has a 52 week low of $19.50 and a 52 week high of $34.20. The company has a fifty day moving average price of $27.77 and a two-hundred day moving average price of $26.14. The firm has a market capitalization of $373.57 million, a PE ratio of 35.55 and a beta of 0.41.

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

Analysts Set New Price Targets

A number of analysts have issued reports on LWAY shares. Wall Street Zen raised Lifeway Foods from a “hold” rating to a “buy” rating in a research report on Saturday, August 16th. Lake Street Capital boosted their price objective on Lifeway Foods from $30.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, August 13th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Lifeway Foods in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Lifeway Foods has an average rating of “Moderate Buy” and a consensus target price of $33.00.

Insider Buying and Selling

In related news, major shareholder Ludmila Smolyansky sold 10,000 shares of the business’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $26.44, for a total transaction of $264,400.00. Following the transaction, the insider directly owned 832,823 shares in the company, valued at approximately $22,019,840.12. The trade was a 1.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Edward Smolyansky sold 83,643 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $25.91, for a total value of $2,167,190.13. Following the completion of the sale, the insider owned 1,151,642 shares in the company, valued at $29,839,044.22. This represents a 6.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 115,000 shares of company stock worth $2,998,741. Company insiders own 18.86% of the company’s stock.

Lifeway Foods 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.