Insider Selling: Lifeway Foods (NASDAQ:LWAY) Major Shareholder Sells 83,643 Shares of Stock

Lifeway Foods, Inc. (NASDAQ:LWAY) major shareholder Edward Smolyansky sold 83,643 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $25.91, for a total value of $2,167,190.13. Following the sale, the insider owned 1,151,642 shares of the company’s stock, valued at $29,839,044.22. This trade represents a 6.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Large 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 Wednesday, September 24th, Edward Smolyansky sold 10,000 shares of Lifeway Foods stock. The stock was sold at an average price of $26.69, for a total value of $266,900.00.
• 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 value of $168,651.21.

Lifeway Foods Trading Down 0.8%

Shares of Lifeway Foods stock opened at $25.45 on Friday. The stock has a fifty day simple moving average of $29.11 and a 200 day simple moving average of $25.78. Lifeway Foods, Inc. has a 12-month low of $19.50 and a 12-month high of $34.20. The company has a market capitalization of $387.60 million, a P/E ratio of 36.88 and a beta of 0.46.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LWAY. Rhumbline Advisers lifted its position in shares of Lifeway Foods by 8.2% during the 1st quarter. Rhumbline Advisers now owns 6,068 shares of the company’s stock valued at $148,000 after buying an additional 462 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Lifeway Foods by 6.8% during the 2nd quarter. First Trust Advisors LP now owns 17,178 shares of the company’s stock valued at $423,000 after buying an additional 1,091 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Lifeway Foods by 577.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,551 shares of the company’s stock valued at $38,000 after buying an additional 1,322 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Lifeway Foods by 2.8% during the 1st quarter. Bank of New York Mellon Corp now owns 57,403 shares of the company’s stock valued at $1,403,000 after buying an additional 1,562 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Lifeway Foods during the 2nd quarter valued at $40,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LWAY shares. Wall Street Zen upgraded Lifeway Foods from a “hold” rating to a “buy” rating in a report on Saturday, August 16th. Lake Street Capital upped their price target on Lifeway Foods from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Lifeway Foods in a research report on Saturday, September 27th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Lifeway Foods has an average rating of “Moderate Buy” and a consensus 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.