Maui Land & Pineapple (NYSE:MLP) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Maui Land & Pineapple Company, Inc. (NYSE:MLP)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-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 trading hands.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wall Street Zen cut Maui Land & Pineapple from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Weiss Ratings raised Maui Land & Pineapple from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Maui Land & Pineapple Price Performance

The company’s 50 day moving average price is $17.39 and its 200-day moving average price is $16.69. The company has a market cap of $343.88 million, a price-to-earnings ratio of -86.58 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) last released its earnings results on Friday, May 15th. The financial services provider reported ($0.10) EPS for the quarter. The business had revenue of $3.40 million for the quarter. Maui Land & Pineapple had a negative net margin of 23.44% and a negative return on equity of 12.78%.

Institutional Investors Weigh In On Maui Land & Pineapple

Several large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Maui Land & Pineapple during the second quarter worth $9,994,000. Deutsche Bank AG acquired a new position in shares of Maui Land & Pineapple in the 2nd quarter valued at $85,000. Bank of New York Mellon Corp acquired a new position in shares of Maui Land & Pineapple in the 2nd quarter valued at $250,000. GSA Capital Partners LLP purchased a new position in Maui Land & Pineapple in the 2nd quarter worth about $345,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in Maui Land & Pineapple in the 1st quarter worth about $159,000. 24.55% of the stock is 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.