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

Maui Land & Pineapple Company, Inc. (NYSE:MLP) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.67 and traded as high as $17.90. Maui Land & Pineapple shares last traded at $17.58, with a volume of 12,574 shares changing hands.

Wall Street Analysts Forecast Growth

MLP has been the subject of several research reports. Weiss Ratings cut shares of Maui Land & Pineapple from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, June 17th. Wall Street Zen cut Maui Land & Pineapple from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Maui Land & Pineapple Stock Down 1.1%

The business’s 50 day moving average price is $16.78 and its 200-day moving average price is $16.67. 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 firm has a market capitalization of $349.14 million, a PE ratio of -87.90 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) EPS for the quarter. The firm had revenue of $3.40 million for the quarter. Maui Land & Pineapple had a negative return on equity of 12.78% and a negative net margin of 23.44%.

Institutional Trading of Maui Land & Pineapple

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

Maui Land & Pineapple Company Profile

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.