Lifeway Foods (NASDAQ:LWAY) Major Shareholder Edward Smolyansky Sells 83,643 Shares

Lifeway Foods, Inc. (NASDAQ:LWAY) major shareholder Edward Smolyansky sold 83,643 shares of Lifeway Foods stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 1,151,642 shares in the company, valued at approximately $29,839,044.22. This represents a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock 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 Price Performance

Lifeway Foods stock opened at $25.45 on Friday. The stock’s 50 day moving average is $29.11 and its 200 day moving average is $25.78. The firm has a market cap of $387.60 million, a P/E ratio of 36.88 and a beta of 0.46. Lifeway Foods, Inc. has a one year low of $19.50 and a one year high of $34.20.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LWAY. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Lifeway Foods in a research note on Saturday, September 27th. Wall Street Zen raised Lifeway Foods from a “hold” rating to a “buy” rating in a research note on Saturday, August 16th. Finally, Lake Street Capital lifted their target price on Lifeway Foods from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.00.

Institutional Investors Weigh In On Lifeway Foods

Hedge funds and other institutional investors have recently modified their holdings of the company. Beryl Capital Management LLC increased its holdings 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 in the last quarter. Slotnik Capital LLC increased its holdings in shares of Lifeway Foods by 82.5% during the first 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 in the last quarter. JBF Capital Inc. bought a new stake in shares of Lifeway Foods during the first quarter valued at approximately $672,000. Rhumbline Advisers increased its holdings in shares of Lifeway Foods by 8.2% during the first quarter. Rhumbline Advisers now owns 6,068 shares of the company’s stock valued at $148,000 after acquiring an additional 462 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Lifeway Foods during the first quarter valued at approximately $221,000. Institutional investors own 36.39% of the company’s stock.

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.