Quinn Opportunity Partners LLC Sells 4,405 Shares of Lifeway Foods, Inc. $LWAY

Quinn Opportunity Partners LLC reduced its position in Lifeway Foods, Inc. (NASDAQ:LWAY) by 26.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,423 shares of the company’s stock after selling 4,405 shares during the quarter. Quinn Opportunity Partners LLC owned about 0.08% of Lifeway Foods worth $306,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Central Pacific Bank Trust Division purchased a new stake in Lifeway Foods in the 2nd quarter worth approximately $49,000. Byrne Asset Management LLC bought a new position in shares of Lifeway Foods in the second quarter worth $53,000. Deutsche Bank AG purchased a new stake in shares of Lifeway Foods in the first quarter worth $78,000. Strs Ohio bought a new stake in Lifeway Foods during the first quarter valued at $90,000. Finally, Rhumbline Advisers increased its stake in Lifeway Foods by 8.2% in the 1st quarter. Rhumbline Advisers now owns 6,068 shares of the company’s stock worth $148,000 after acquiring an additional 462 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Lifeway Foods

In other Lifeway Foods news, major shareholder Edward Smolyansky sold 83,643 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $25.91, for a total transaction of $2,167,190.13. Following the completion of the transaction, the insider owned 1,151,642 shares of the company’s stock, valued at $29,839,044.22. This represents a 6.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Ludmila Smolyansky sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $26.44, for a total value of $264,400.00. Following the completion of the sale, the insider owned 832,823 shares of the company’s stock, valued at approximately $22,019,840.12. This trade represents a 1.19% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 115,000 shares of company stock worth $2,998,741. 18.86% of the stock is owned by company insiders.

Lifeway Foods Stock Performance

NASDAQ:LWAY opened at $22.75 on Thursday. Lifeway Foods, Inc. has a fifty-two week low of $19.50 and a fifty-two week high of $34.20. The firm has a market cap of $346.46 million, a PE ratio of 32.97 and a beta of 0.41. The business has a 50 day moving average price of $27.22 and a 200-day moving average price of $26.16.

Lifeway Foods (NASDAQ:LWAY) last announced its quarterly earnings results on Wednesday, November 12th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.05). The firm had revenue of $57.14 million for the quarter, compared to analysts’ expectations of $55.00 million. Lifeway Foods had a net margin of 5.49% and a return on equity of 14.32%.

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.