Maui Land & Pineapple (NYSE:MLP) Stock Price Breaks Below 200-Day Moving Average – Here’s Why

Shares of Maui Land & Pineapple Company, Inc. (NYSE:MLP) passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $16.44 and traded as low as $14.34. Maui Land & Pineapple shares last traded at $14.5340, with a volume of 17,581 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Maui Land & Pineapple from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Maui Land & Pineapple Stock Down 3.2%

The firm has a market cap of $281.32 million, a P/E ratio of -61.58 and a beta of 0.64. The firm’s 50 day moving average is $15.80 and its two-hundred day moving average is $16.43. The company has a current ratio of 1.17, a quick ratio of 0.90 and a debt-to-equity ratio of 0.28.

Maui Land & Pineapple (NYSE:MLP) last posted its earnings results on Friday, August 14th. The financial services provider reported ($0.08) earnings per share (EPS) for the quarter. Maui Land & Pineapple had a negative net margin of 28.65% and a negative return on equity of 14.25%. The business had revenue of $3.70 million during the quarter.

Institutional Trading of Maui Land & Pineapple

A number of institutional investors have recently modified their holdings of the company. TSP Capital Management Group LLC lifted its stake in Maui Land & Pineapple by 0.3% in the 1st quarter. TSP Capital Management Group LLC now owns 1,102,001 shares of the financial services provider’s stock valued at $16,960,000 after acquiring an additional 3,560 shares in the last quarter. Deutsche Bank AG acquired a new position in shares of Maui Land & Pineapple during the 2nd quarter worth about $85,000. Allspring Global Investments Holdings LLC acquired a new position in Maui Land & Pineapple during the first quarter valued at approximately $159,000. Bank of New York Mellon Corp acquired a new stake in shares of Maui Land & Pineapple in the 2nd quarter valued at approximately $250,000. Finally, GSA Capital Partners LLP acquired a new stake in Maui Land & Pineapple in the second quarter valued at $345,000. 24.55% of the stock is currently owned by institutional investors.

About Maui Land & Pineapple

Maui Land & Pineapple Company, Inc is a Hawaii-based real estate and land management company focused on the stewardship, development and leasing of property on the island of Maui. Its activities include residential and commercial real estate development, property leasing, land sales and the management of infrastructure and utility services associated with its properties.

The company’s land portfolio includes property in and around the Kapalua Resort area and other parts of West Maui. Maui Land & Pineapple supports a range of uses, including resort, residential, agricultural, conservation and commercial activities.