Granite Investment Partners LLC Sells 7,145 Shares of Lifeway Foods, Inc. (NASDAQ:LWAY)
Granite Investment Partners LLC lowered its stake in Lifeway Foods, Inc. (NASDAQ:LWAY) by 4.5% during the second quarter, Holdings Channel reports. The fund owned 152,284 shares of the company’s stock after selling 7,145 shares during the period. Granite Investment Partners LLC’s holdings in Lifeway Foods were worth $1,422,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of Lifeway Foods by 35.8% in the fourth quarter. Renaissance Technologies LLC now owns 185,700 shares of the company’s stock valued at $2,137,000 after buying an additional 49,000 shares during the last quarter. Haverford Trust Co. acquired a new stake in shares of Lifeway Foods during the first quarter valued at $300,000. FMR LLC increased its stake in shares of Lifeway Foods by 9.0% in the first quarter. FMR LLC now owns 277,426 shares of the company’s stock valued at $2,977,000 after buying an additional 22,800 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Lifeway Foods by 5.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 337,891 shares of the company’s stock valued at $3,889,000 after buying an additional 18,560 shares during the last quarter. Finally, Financial & Investment Management Group Ltd. acquired a new stake in shares of Lifeway Foods during the second quarter valued at $145,000. 17.31% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lifeway Foods, Inc. (NASDAQ LWAY) opened at 9.49 on Friday. Lifeway Foods, Inc. has a 52 week low of $8.31 and a 52 week high of $18.48. The company’s 50-day moving average is $9.31 and its 200 day moving average is $10.04. The stock has a market capitalization of $153.30 million, a P/E ratio of 57.87 and a beta of 0.61.
Lifeway Foods declared that its Board of Directors has authorized a share repurchase plan on Monday, June 26th that allows the company to buyback $6.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 4% of its shares through a tender offer. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
Separately, Zacks Investment Research raised shares of Lifeway Foods from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 27th.
About Lifeway Foods
Lifeway Foods, Inc (Lifeway) is engaged in the manufacturing of probiotic, cultured, functional dairy health food products. The Company is engaged in the sale of fermented dairy products, which are produced and are sold to consumers through a network of distributors and retailers in the United States.
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