Maui Land & Pineapple (NYSE:MLP) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Maui Land & Pineapple Company, Inc. (NYSE:MLP) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.66 and traded as high as $17.89. Maui Land & Pineapple shares last traded at $17.86, with a volume of 20,772 shares.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Weiss Ratings cut Maui Land & Pineapple from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 17th. Wall Street Zen lowered Maui Land & Pineapple from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Maui Land & Pineapple Stock Down 2.2%

The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38. The stock’s fifty day simple moving average is $17.35 and its two-hundred day simple moving average is $16.67. The stock has a market capitalization of $347.17 million, a P/E ratio of -87.41 and a beta of 0.67.

Maui Land & Pineapple (NYSE:MLP) last released its quarterly earnings results on Friday, May 15th. The financial services provider reported ($0.10) earnings per share (EPS) for the quarter. The business had revenue of $3.40 million for the quarter. Maui Land & Pineapple had a negative net margin of 23.44% and a negative return on equity of 12.78%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio bought a new stake in shares of Maui Land & Pineapple in the 1st quarter valued at about $26,000. Tower Research Capital LLC TRC raised its position in shares of Maui Land & Pineapple by 339.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,818 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 2,177 shares during the last quarter. Deutsche Bank AG raised its position in shares of Maui Land & Pineapple by 23.4% during the fourth quarter. Deutsche Bank AG now owns 5,264 shares of the financial services provider’s stock worth $89,000 after acquiring an additional 999 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Maui Land & Pineapple by 75.8% in the fourth quarter. Wells Fargo & Company MN now owns 7,477 shares of the financial services provider’s stock worth $127,000 after acquiring an additional 3,224 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Maui Land & Pineapple in the first quarter worth approximately $159,000. 24.55% of the stock is owned by institutional investors and hedge funds.

About Maui Land & Pineapple

Maui Land & Pineapple Company, Inc (NYSE: MLP) is a real estate development and natural resource management enterprise headquartered in Kahului on the island of Maui, Hawaii. The company maintains a diversified portfolio of commercial, industrial, retail, hospitality and residential properties, primarily serving the local Maui market. Through its property management and leasing activities, MLP supports a range of tenants and projects designed to meet the evolving needs of residents, small businesses and visitors to the island.

Originally best known for its pineapple cultivation operations dating back to the early 20th century, MLP transitioned from its agricultural roots following the divestiture of its pineapple farming business in 2009.