Lifeway Foods (NASDAQ:LWAY) Major Shareholder Edward Smolyansky Sells 38,452 Shares of Stock

Lifeway Foods, Inc. (NASDAQ:LWAY) major shareholder Edward Smolyansky sold 38,452 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $29.85, for a total transaction of $1,147,792.20. Following the transaction, the insider directly owned 1,014,190 shares of the company’s stock, valued at $30,273,571.50. This represents a 3.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, June 22nd, Edward Smolyansky sold 50,000 shares of Lifeway Foods stock. The stock was sold at an average price of $26.20, for a total transaction of $1,310,000.00.
• On Friday, May 15th, Edward Smolyansky sold 24,000 shares of Lifeway Foods stock. The stock was sold at an average price of $24.87, for a total transaction of $596,880.00.
• On Thursday, May 14th, Edward Smolyansky sold 25,000 shares of Lifeway Foods stock. The shares were sold at an average price of $25.34, for a total value of $633,500.00.

Lifeway Foods Price Performance

Shares of NASDAQ LWAY opened at $29.39 on Friday. The stock has a fifty day simple moving average of $25.58 and a two-hundred day simple moving average of $23.27. Lifeway Foods, Inc. has a 1-year low of $17.31 and a 1-year high of $34.20. The firm has a market cap of $449.08 million, a price-to-earnings ratio of 30.30 and a beta of 0.48. The company has a current ratio of 2.14, a quick ratio of 1.56 and a debt-to-equity ratio of 0.08.

Lifeway Foods (NASDAQ:LWAY) last released its earnings results on Thursday, May 14th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.30. The business had revenue of $63.01 million during the quarter, compared to the consensus estimate of $60.80 million. Lifeway Foods had a return on equity of 17.76% and a net margin of 6.54%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Benchmark reiterated a “buy” rating on shares of Lifeway Foods in a research report on Monday, June 15th. Wall Street Zen lowered shares of Lifeway Foods from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Finally, Weiss Ratings raised shares of Lifeway Foods from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Lifeway Foods presently has a consensus rating of “Moderate Buy” and an average target price of $34.33.

Hedge Funds Weigh In On Lifeway Foods

Large investors have recently made changes to their positions in the stock. Larson Financial Group LLC purchased a new position in shares of Lifeway Foods in the third quarter valued at $31,000. BNP Paribas Financial Markets lifted its holdings in Lifeway Foods by 577.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,551 shares of the company’s stock worth $38,000 after purchasing an additional 1,322 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Lifeway Foods during the 2nd quarter worth about $40,000. State of Alaska Department of Revenue boosted its stake in Lifeway Foods by 302.0% in the 4th quarter. State of Alaska Department of Revenue now owns 2,967 shares of the company’s stock worth $71,000 after purchasing an additional 2,229 shares during the period. Finally, Strs Ohio bought a new position in Lifeway Foods in the 1st quarter worth about $90,000. 36.39% of the stock is owned by institutional investors.

About Lifeway Foods

Lifeway Foods, Inc (NASDAQ: LWAY) is a Chicago-based food company specializing in probiotic-rich cultured dairy products. Established in 1986 by Michael Smolyansky, the company pioneered the introduction of kefir to the U.S. market. Under the leadership of CEO Julie Smolyansky, who succeeded her father in 2002, Lifeway has grown from a single product operation into a diversified portfolio of fermented foods and beverages aimed at promoting digestive health and wellness.

The company’s flagship product is kefir, a cultured milk beverage naturally rich in probiotics, vitamins and minerals.