Lifeway Foods, Inc. $LWAY Shares Sold by GABELLI & Co INVESTMENT ADVISERS INC.

GABELLI & Co INVESTMENT ADVISERS INC. reduced its stake in shares of Lifeway Foods, Inc. (NASDAQ:LWAY) by 33.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,746 shares of the company’s stock after selling 32,000 shares during the quarter. GABELLI & Co INVESTMENT ADVISERS INC. owned about 0.41% of Lifeway Foods worth $1,742,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets grew its stake in shares of 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 purchasing an additional 1,322 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Lifeway Foods during the second quarter valued at approximately $40,000. New York State Common Retirement Fund boosted its holdings in Lifeway Foods by 433.3% during the third quarter. New York State Common Retirement Fund now owns 1,600 shares of the company’s stock worth $44,000 after buying an additional 1,300 shares in the last quarter. Strs Ohio acquired a new position in Lifeway Foods in the first quarter worth approximately $90,000. Finally, Bank of America Corp DE grew 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 worth $117,000 after buying an additional 1,976 shares during the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, major shareholder Ludmila Smolyansky sold 26,431 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $24.42, for a total transaction of $645,445.02. Following the completion of the transaction, the insider directly owned 757,823 shares in the company, valued at $18,506,037.66. The trade was a 3.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders sold 75,000 shares of company stock valued at $1,779,895. Insiders own 18.86% of the company’s stock.

Lifeway Foods Stock Performance

Shares of LWAY stock opened at $21.25 on Friday. Lifeway Foods, Inc. has a twelve month low of $19.50 and a twelve month high of $34.20. The stock’s 50 day simple moving average is $22.17 and its 200 day simple moving average is $24.91. The company has a market capitalization of $323.64 million, a price-to-earnings ratio of 29.11 and a beta of 0.13.

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.