Maui Land & Pineapple (NYSE:MLP) Share Price Passes Above 50 Day Moving Average - Here's Why

Maui Land & Pineapple Company, Inc. (NYSE:MLP - Get Free Report) shares passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $16.01 and traded as high as $17.88. Maui Land & Pineapple shares last traded at $17.84, with a volume of 26,443 shares traded.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Maui Land & Pineapple from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st.

Maui Land & Pineapple Price Performance

The firm has a market capitalization of $352.06 million, a PE ratio of -23.78 and a beta of 0.76. The business has a 50-day moving average of $16.01 and a 200 day moving average of $18.35. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.01.

Maui Land & Pineapple (NYSE:MLP - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The financial services provider reported ($0.44) EPS for the quarter. The company had revenue of $5.80 million during the quarter. Maui Land & Pineapple had a negative net margin of 98.43% and a negative return on equity of 45.76%.

Insider Activity at Maui Land & Pineapple

In related news, Director Stephen M. Case purchased 2,500 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was acquired at an average cost of $15.82 per share, with a total value of $39,550.00. Following the transaction, the director now owns 11,917,116 shares of the company's stock, valued at $188,528,775.12. This represents a 0.02% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders purchased 9,409 shares of company stock valued at $154,161. 65.88% of the stock is owned by insiders.

Institutional Investors Weigh In On Maui Land & Pineapple

Several large investors have recently made changes to their positions in MLP. Strs Ohio purchased a new stake in shares of Maui Land & Pineapple during the 1st quarter valued at $26,000. Wells Fargo & Company MN increased its position in shares of Maui Land & Pineapple by 115.0% during the 4th quarter. Wells Fargo & Company MN now owns 5,208 shares of the financial services provider's stock valued at $114,000 after purchasing an additional 2,786 shares during the last quarter. Deutsche Bank AG increased its position in shares of Maui Land & Pineapple by 233.2% during the 1st 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. Nuveen LLC purchased a new stake in shares of Maui Land & Pineapple during the 1st quarter valued at $181,000. Finally, Bank of America Corp DE increased its position in shares of Maui Land & Pineapple by 27.3% during the 4th 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. 24.55% of the stock is owned by hedge funds and other institutional investors.

Maui Land & Pineapple Company Profile

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.

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