First Hawaiian Bank Invests $52.71 Million in Maui Land & Pineapple Company, Inc. $MLP

Key Points

• First Hawaiian Bank has acquired 3 million shares of Maui Land & Pineapple Company, representing approximately $52.7 million, making it the bank's fifth largest position.
• Several institutional investors, including Valueworks LLC and Deutsche Bank AG, have recently increased their holdings in Maui Land & Pineapple, contributing to the 24.55% of shares owned by institutional investors.
• Maui Land & Pineapple's stock price has increased by 9.5%, currently standing at $18.71, with a 52-week low of $14.05 and a high of $25.78.

First Hawaiian Bank acquired a new stake in Maui Land & Pineapple Company, Inc. (NYSE:MLP - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,000,000 shares of the financial services provider's stock, valued at approximately $52,710,000. Maui Land & Pineapple comprises 2.6% of First Hawaiian Bank's investment portfolio, making the stock its 5th largest position. First Hawaiian Bank owned about 15.20% of Maui Land & Pineapple as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of MLP. Valueworks LLC lifted its stake in Maui Land & Pineapple by 14.5% in the first quarter. Valueworks LLC now owns 919,343 shares of the financial services provider's stock valued at $16,153,000 after purchasing an additional 116,076 shares during the last quarter. NBC Securities Inc. lifted its stake in Maui Land & Pineapple by 127,223.5% in the first quarter. NBC Securities Inc. now owns 43,290 shares of the financial services provider's stock valued at $760,000 after purchasing an additional 43,256 shares during the last quarter. Nuveen LLC purchased a new position in Maui Land & Pineapple in the first quarter valued at approximately $181,000. Deutsche Bank AG lifted its stake in Maui Land & Pineapple by 233.2% in the first quarter. Deutsche Bank AG now owns 6,868 shares of the financial services provider's stock valued at $121,000 after purchasing an additional 4,807 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Maui Land & Pineapple by 27.3% in the fourth quarter. Bank of America Corp DE now owns 10,181 shares of the financial services provider's stock valued at $224,000 after purchasing an additional 2,182 shares during the last quarter. Hedge funds and other institutional investors own 24.55% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Maui Land & Pineapple from a "sell" rating to a "hold" rating in a report on Sunday, September 7th.

Insider Buying and Selling at Maui Land & Pineapple

In other news, Director Stephen M. Case purchased 2,500 shares of the firm's stock in a transaction dated Monday, September 8th. The shares were purchased at an average price of $16.91 per share, with a total value of $42,275.00. Following the completion of the acquisition, the director owned 11,937,978 shares in the company, valued at $201,871,207.98. This trade represents a 0.02% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have acquired a total of 12,500 shares of company stock valued at $209,313 over the last quarter. Corporate insiders own 65.88% of the company's stock.

Maui Land & Pineapple Stock Performance

MLP stock remained flat at $18.73 during midday trading on Friday. 17,358 shares of the company's stock were exchanged, compared to its average volume of 18,403. The firm has a 50 day moving average price of $17.13 and a 200-day moving average price of $16.93. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.77 and a quick ratio of 0.77. Maui Land & Pineapple Company, Inc. has a 1-year low of $14.05 and a 1-year high of $25.78. The stock has a market capitalization of $369.73 million, a price-to-earnings ratio of -26.38 and a beta of 0.78.

Maui Land & Pineapple (NYSE:MLP - Get Free Report) last issued its earnings results on Thursday, August 14th. The financial services provider reported ($0.05) earnings per share (EPS) for the quarter. Maui Land & Pineapple had a negative net margin of 81.82% and a negative return on equity of 45.87%. The business had revenue of $4.60 million for the quarter.

About Maui Land & Pineapple

Maui Land & Pineapple Co, Inc is a landholding and operating company, which engages in the development, sale, and management of real estate. It operates through the following segments: Real Estate, Leasing, and Resort Amenities. The Real Estate segment includes land planning and entitlement, development, and sales activities.