CenterBook Partners LP Makes New Investment in Lifeway Foods, Inc. $LWAY

CenterBook Partners LP acquired a new position in shares of Lifeway Foods, Inc. (NASDAQ:LWAY) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 37,500 shares of the company’s stock, valued at approximately $1,041,000.

Several other hedge funds have also recently made changes to their positions in LWAY. BNP Paribas Financial Markets raised its stake in Lifeway Foods by 577.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,551 shares of the company’s stock worth $38,000 after acquiring an additional 1,322 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Lifeway Foods in the second quarter valued at about $40,000. New York State Common Retirement Fund raised its stake in shares of Lifeway Foods by 433.3% in the third quarter. New York State Common Retirement Fund now owns 1,600 shares of the company’s stock worth $44,000 after purchasing an additional 1,300 shares during the last quarter. Strs Ohio acquired a new stake in shares of Lifeway Foods during the first quarter worth about $90,000. Finally, Bank of America Corp DE boosted its position in Lifeway Foods by 70.8% in the second quarter. Bank of America Corp DE now owns 4,766 shares of the company’s stock valued at $117,000 after buying an additional 1,976 shares during the last quarter. 36.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Lifeway Foods news, major shareholder Ludmila Smolyansky sold 26,431 shares of Lifeway Foods stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $24.42, for a total value of $645,445.02. Following the completion of the transaction, the insider owned 757,823 shares of the company’s stock, valued at approximately $18,506,037.66. The trade was a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 75,000 shares of company stock worth $1,779,895 in the last quarter. 18.86% of the stock is currently owned by company insiders.

Lifeway Foods Price Performance

Shares of NASDAQ LWAY opened at $21.98 on Friday. The stock has a market capitalization of $334.76 million, a price-to-earnings ratio of 30.11 and a beta of 0.11. The firm’s 50 day simple moving average is $22.55 and its 200-day simple moving average is $25.39. Lifeway Foods, Inc. has a 12 month low of $19.50 and a 12 month high of $34.20.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on LWAY shares. Weiss Ratings reissued a “hold (c)” rating on shares of Lifeway Foods in a research report on Monday, December 29th. Wall Street Zen raised shares of Lifeway Foods from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Benchmark restated a “buy” rating on shares of Lifeway Foods in a research report on Wednesday, January 14th. Finally, Morgan Stanley set a $35.00 price target on shares of Lifeway Foods in a report on Wednesday, January 14th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.33.

Lifeway Foods Company Profile

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.