Lifeway Foods (NASDAQ:LWAY) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Lifeway Foods, Inc. (NASDAQ:LWAY) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $22.99 and traded as high as $24.01. Lifeway Foods shares last traded at $23.60, with a volume of 121,759 shares changing hands.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Weiss Ratings raised Lifeway Foods from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 14th. Wall Street Zen cut Lifeway Foods from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Lifeway Foods currently has an average rating of “Moderate Buy” and a consensus price target of $34.33.

Lifeway Foods Price Performance

The company has a market capitalization of $360.61 million, a price-to-earnings ratio of 24.33 and a beta of 0.48. The company has a 50-day moving average price of $24.38 and a 200-day moving average price of $22.99. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.56 and a current ratio of 2.14.

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

Insiders Place Their Bets

In other Lifeway Foods news, major shareholder Divisadero Street Capital Mana acquired 131,871 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average cost of $25.50 per share, for a total transaction of $3,362,710.50. Following the transaction, the insider owned 2,068,366 shares of the company’s stock, valued at $52,743,333. This trade represents a 6.81% increase 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. Also, major shareholder Edward Smolyansky sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $25.34, for a total value of $633,500.00. Following the completion of the transaction, the insider owned 1,076,642 shares of the company’s stock, valued at $27,282,108.28. This represents a 2.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,598,756 shares of company stock valued at $70,654,047 over the last 90 days. 18.86% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lifeway Foods

Several institutional investors and hedge funds have recently modified their holdings of the business. Larson Financial Group LLC bought a new stake in Lifeway Foods in the 3rd quarter valued at approximately $31,000. BNP Paribas Financial Markets lifted 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 valued at $38,000 after acquiring an additional 1,322 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Lifeway Foods in the 2nd quarter valued at approximately $40,000. New York State Common Retirement Fund lifted its stake in Lifeway Foods by 433.3% in the 3rd quarter. New York State Common Retirement Fund now owns 1,600 shares of the company’s stock valued at $44,000 after acquiring an additional 1,300 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted 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 valued at $71,000 after acquiring an additional 2,229 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

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.