Maui Land & Pineapple (NYSE:MLP) Stock Price Passes Below 200 Day Moving Average - Here's What Happened

Key Points

• Maui Land & Pineapple's stock price has dropped below its 200-day moving average, trading at $15.94 compared to the average of $16.90.
• Analysts have mixed ratings for the stock, with one upgrading it to a "hold" while another has maintained a "sell" rating, leading to an average rating of "Sell."
• Insider activity includes Director Stephen M. Case acquiring 2,500 shares, increasing their ownership to 11,937,978 shares, which represents a 0.02% increase in their position.

Maui Land & Pineapple Company, Inc. (NYSE:MLP - Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $16.90 and traded as low as $15.84. Maui Land & Pineapple shares last traded at $15.94, with a volume of 15,691 shares.

Analysts Set New Price Targets

MLP has been the topic of several recent analyst reports. Wall Street Zen upgraded Maui Land & Pineapple from a "sell" rating to a "hold" rating in a research note on Sunday, September 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Maui Land & Pineapple in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of "Sell".

Maui Land & Pineapple Stock Down 3.3%

The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $314.66 million, a P/E ratio of -22.45 and a beta of 0.77. The stock has a 50 day moving average price of $17.60 and a 200 day moving average price of $16.90.

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

Insider Buying and Selling at Maui Land & Pineapple

In other news, Director Stephen M. Case acquired 2,500 shares of the stock in a transaction dated Monday, September 8th. The stock was bought at an average price of $16.91 per share, with a total value of $42,275.00. Following the completion of the purchase, the director directly owned 11,937,978 shares of the company's stock, valued at $201,871,207.98. This represents a 0.02% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought 12,500 shares of company stock worth $209,313 in the last quarter. Insiders own 65.88% of the company's stock.

Hedge Funds Weigh In On Maui Land & Pineapple

Several institutional investors and hedge funds have recently added to or reduced their stakes in MLP. Raymond James Financial Inc. boosted its stake in shares of Maui Land & Pineapple by 1.4% in the 2nd quarter. Raymond James Financial Inc. now owns 74,555 shares of the financial services provider's stock valued at $1,356,000 after purchasing an additional 1,000 shares during the last quarter. Strs Ohio bought a new position in Maui Land & Pineapple during the first quarter worth $26,000. Tower Research Capital LLC TRC lifted its holdings in 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 buying an additional 2,177 shares during the period. NBC Securities Inc. boosted its position in Maui Land & Pineapple by 8.0% during the second quarter. NBC Securities Inc. now owns 46,740 shares of the financial services provider's stock valued at $850,000 after acquiring an additional 3,450 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in Maui Land & Pineapple by 233.2% during the first quarter. Deutsche Bank AG now owns 6,868 shares of the financial services provider's stock valued at $121,000 after acquiring an additional 4,807 shares during the last quarter. 24.55% of the stock is currently owned by institutional investors and hedge funds.

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.

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