Cornercap Investment Counsel Inc. Takes $539,000 Position in Lifeway Foods, Inc. (NASDAQ:LWAY)

Cornercap Investment Counsel Inc. bought a new position in Lifeway Foods, Inc. (NASDAQ:LWAY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 42,181 shares of the company’s stock, valued at approximately $539,000. Cornercap Investment Counsel Inc. owned 0.29% of Lifeway Foods as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of LWAY. American Century Companies Inc. acquired a new stake in shares of Lifeway Foods during the second quarter worth approximately $593,000. Quest Partners LLC purchased a new stake in Lifeway Foods in the 2nd quarter worth approximately $82,000. Acadian Asset Management LLC lifted its position in Lifeway Foods by 184.0% in the 2nd quarter. Acadian Asset Management LLC now owns 46,184 shares of the company’s stock worth $589,000 after buying an additional 29,922 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Lifeway Foods by 2,334.0% during the 2nd quarter. Rhumbline Advisers now owns 4,868 shares of the company’s stock valued at $62,000 after buying an additional 4,668 shares during the period. Finally, Panagora Asset Management Inc. purchased a new position in shares of Lifeway Foods during the 2nd quarter valued at $267,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Lifeway Foods Trading Up 4.5 %

Shares of Lifeway Foods stock opened at $21.82 on Friday. Lifeway Foods, Inc. has a 1 year low of $9.06 and a 1 year high of $28.61. The company’s fifty day simple moving average is $15.56 and its 200-day simple moving average is $16.19. The company has a market cap of $322.72 million, a price-to-earnings ratio of 25.37 and a beta of 1.02.

Lifeway Foods (NASDAQ:LWAY) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.08. The company had revenue of $49.16 million for the quarter, compared to analyst estimates of $46.50 million. Lifeway Foods had a net margin of 7.69% and a return on equity of 21.92%. During the same period last year, the business posted $0.21 EPS. As a group, research analysts forecast that Lifeway Foods, Inc. will post 0.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lifeway Foods news, major shareholder Ludmila Smolyansky sold 4,584 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $19.55, for a total value of $89,617.20. Following the completion of the transaction, the insider now owns 1,085,549 shares of the company’s stock, valued at approximately $21,222,482.95. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, major shareholder Ludmila Smolyansky sold 4,584 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $19.55, for a total value of $89,617.20. Following the completion of the transaction, the insider now owns 1,085,549 shares in the company, valued at approximately $21,222,482.95. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Amy M. Feldman sold 12,948 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $18.57, for a total transaction of $240,444.36. Following the transaction, the vice president now directly owns 18,104 shares of the company’s stock, valued at $336,191.28. The disclosure for this sale can be found here. Insiders have sold a total of 52,698 shares of company stock valued at $887,612 over the last three months. 31.77% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on LWAY shares. StockNews.com cut Lifeway Foods from a “buy” rating to a “hold” rating in a research report on Sunday, September 8th. Noble Financial lifted their price target on Lifeway Foods from $20.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd.

Lifeway Foods Company Profile

Lifeway Foods, Inc produces and markets probiotic-based products in the United States and internationally. Its primary product is drinkable kefir, a cultured dairy product in various organic and non-organic sizes, flavors, and types. The company offers European-style soft cheeses; cream and other products; ProBugs, a line of kefir products designed for children; drinkable yogurt; and fresh made butter and sour cream.