Lifeway Foods (NASDAQ:LWAY) Major Shareholder Edward Smolyansky Sells 70,000 Shares of Stock

Lifeway Foods, Inc. (NASDAQ:LWAY) major shareholder Edward Smolyansky sold 70,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $22.62, for a total value of $1,583,400.00. Following the transaction, the insider owned 794,793 shares in the company, valued at $17,978,217.66. This trade represents a 8.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Tuesday, October 13th, Edward Smolyansky sold 30,000 shares of Lifeway Foods stock. The stock was sold at an average price of $22.64, for a total value of $679,200.00.
• On Wednesday, August 12th, Edward Smolyansky sold 35,000 shares of Lifeway Foods stock. The shares were sold at an average price of $28.74, for a total value of $1,005,900.00.
• On Friday, August 14th, Edward Smolyansky sold 75,000 shares of Lifeway Foods stock. The shares were sold at an average price of $25.45, for a total value of $1,908,750.00.

Lifeway Foods Stock Down 0.4%

Shares of NASDAQ LWAY traded down $0.10 during mid-day trading on Thursday, hitting $22.20. 99,786 shares of the stock traded hands, compared to its average volume of 119,989. The company has a market cap of $335.44 million, a price-to-earnings ratio of 31.71 and a beta of 0.51. The stock has a fifty day moving average price of $23.18 and a 200-day moving average price of $24.52. Lifeway Foods, Inc. has a 52 week low of $17.31 and a 52 week high of $32.71. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.47 and a current ratio of 2.09.

Lifeway Foods (NASDAQ:LWAY) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.25). Lifeway Foods had a return on equity of 12.66% and a net margin of 4.48%. The firm had revenue of $66.89 million during the quarter, compared to the consensus estimate of $61.40 million.

Institutional Investors Weigh In On Lifeway Foods

Several hedge funds have recently added to or reduced their stakes in LWAY. HBK Investments L P bought a new stake in Lifeway Foods during the 2nd quarter valued at about $4,476,000. Squarepoint Ops LLC lifted its stake in shares of Lifeway Foods by 167.2% in the second quarter. Squarepoint Ops LLC now owns 124,294 shares of the company’s stock worth $3,709,000 after buying an additional 77,774 shares in the last quarter. Empirical Finance LLC bought a new position in shares of Lifeway Foods in the second quarter worth approximately $591,000. Wellington Management Group LLP bought a new position in shares of Lifeway Foods in the second quarter worth approximately $17,459,000. Finally, Pillsbury Lake Capital LLC purchased a new stake in shares of Lifeway Foods during the second quarter valued at approximately $8,704,597. 36.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. BTIG Research initiated coverage on shares of Lifeway Foods in a research report on Thursday, August 20th. They set a “buy” rating and a $32.00 price target for the company. Wall Street Zen lowered shares of Lifeway Foods from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings cut shares of Lifeway Foods from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Finally, Freedom Capital raised shares of Lifeway Foods from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $34.00.

About Lifeway Foods

Lifeway Foods, Inc is a U.S.-based food company that produces and markets cultured and probiotic dairy products. Its portfolio is centered on kefir, a fermented milk beverage available in a variety of flavors and formats, including low-fat, whole-milk, organic and lactose-free options.

The company also offers drinkable yogurt, sour cream, farmer cheese, cream cheese and other cultured dairy products. Through its Green Valley Creamery brand, Lifeway markets lactose-free organic kefir and related dairy products, while its products are sold through grocery stores, natural and specialty food retailers, club stores, mass merchandise channels and e-commerce platforms.

Lifeway Foods was founded in 1986 by Michael and Ludmila Smolyansky, who helped introduce kefir to a broader U.S.