Lifeway Foods, Inc. (NASDAQ:LWAY) Short Interest Update

Lifeway Foods, Inc. (NASDAQ:LWAY) was the recipient of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 421,205 shares, a drop of 59.1% from the May 14th total of 1,030,606 shares. Based on an average daily trading volume, of 146,212 shares, the days-to-cover ratio is presently 2.9 days. Currently, 3.4% of the company’s shares are sold short.

Insider Buying and Selling

In related news, major shareholder Edward Smolyansky sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $25.34, for a total transaction of $633,500.00. Following the transaction, the insider directly owned 1,076,642 shares in the company, valued at $27,282,108.28. This trade represents a 2.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Divisadero Street Capital Mana purchased 131,871 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average cost of $25.50 per share, for a total transaction of $3,362,710.50. Following the acquisition, the insider owned 2,068,366 shares in the company, valued at approximately $52,743,333. The trade was a 6.81% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 3,598,756 shares of company stock worth $70,654,047 in the last ninety days. Corporate insiders own 18.86% of the company’s stock.

Hedge Funds Weigh In On Lifeway Foods

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LWAY. Carlson Capital L.P. acquired a new stake in shares of Lifeway Foods in the first quarter valued at $193,000. Vivaldi Capital Management LP acquired a new position in shares of Lifeway Foods in the 1st quarter valued at $213,000. Teton Advisors LLC acquired a new stake in Lifeway Foods during the 1st quarter worth $193,000. Gamco Investors INC. ET AL lifted its position in Lifeway Foods by 33.5% in the first quarter. Gamco Investors INC. ET AL now owns 214,650 shares of the company’s stock valued at $4,151,000 after acquiring an additional 53,900 shares during the last quarter. Finally, State of Wyoming boosted its stake in Lifeway Foods by 9.0% in the first quarter. State of Wyoming now owns 9,015 shares of the company’s stock valued at $174,000 after acquiring an additional 747 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Analyst Ratings Changes

LWAY has been the topic of several research analyst reports. Wall Street Zen cut shares of Lifeway Foods from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Weiss Ratings raised 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 issued a Hold rating to the company. According to MarketBeat.com, Lifeway Foods presently has an average rating of “Moderate Buy” and a consensus target price of $34.33.

Lifeway Foods Stock Up 0.5%

Shares of Lifeway Foods stock opened at $25.13 on Friday. Lifeway Foods has a 1 year low of $17.31 and a 1 year high of $34.20. The firm has a market cap of $384.05 million, a price-to-earnings ratio of 25.91 and a beta of 0.48. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.14 and a quick ratio of 1.56. The company has a 50-day moving average of $24.81 and a 200 day moving average of $23.06.

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

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.