Maui Land & Pineapple (NYSE:MLP) Shares Cross Above 200 Day Moving Average - Here's Why

Key Points

• Maui Land & Pineapple shares crossed above their 200-day moving average, reaching $18.20 before last trading at $17.1160, compared with a 200-day average of $16.69.
• Analyst sentiment remains negative: Maui Land & Pineapple has a consensus “Sell” rating, with Wall Street Zen recently downgrading the stock from “Hold” to “Sell.”
• The company reported a quarterly loss of $0.10 per share on $3.40 million in revenue, alongside a negative 12.78% return on equity and negative 23.44% net margin; institutional investors own 24.55% of the stock.

Maui Land & Pineapple Company, Inc. (NYSE:MLP - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $16.69 and traded as high as $18.20. Maui Land & Pineapple shares last traded at $17.1160, with a volume of 18,308 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MLP shares. Wall Street Zen lowered Maui Land & Pineapple from a "hold" rating to a "sell" rating in a report on Saturday, May 23rd. Weiss Ratings upgraded Maui Land & Pineapple from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Maui Land & Pineapple currently has a consensus rating of "Sell".

Maui Land & Pineapple Price Performance

The stock has a fifty day moving average price of $17.39 and a 200-day moving average price of $16.69. The firm has a market capitalization of $340.01 million, a PE ratio of -85.58 and a beta of 0.68. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38.

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

Institutional Trading of Maui Land & Pineapple

A number of institutional investors have recently modified their holdings of the company. Valueworks LLC raised its stake in shares of Maui Land & Pineapple by 21.1% during the 4th quarter. Valueworks LLC now owns 1,201,935 shares of the financial services provider's stock worth $20,361,000 after acquiring an additional 209,613 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Maui Land & Pineapple by 11.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 21,828 shares of the financial services provider's stock valued at $370,000 after acquiring an additional 2,189 shares in the last quarter. Wells Fargo & Company MN boosted its stake in 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 valued at $127,000 after acquiring an additional 3,224 shares in the last quarter. Deutsche Bank AG grew its holdings in 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 worth $89,000 after purchasing an additional 999 shares during the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of Maui Land & Pineapple by 4.0% during the third quarter. Raymond James Financial Inc. now owns 77,540 shares of the financial services provider's stock worth $1,445,000 after purchasing an additional 2,985 shares in the last quarter. 24.55% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source