Maui Land & Pineapple (NYSE:MLP) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

Maui Land & Pineapple Company, Inc. (NYSE:MLP)’s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $16.68 and traded as low as $16.28. Maui Land & Pineapple shares last traded at $16.5310, with a volume of 25,427 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MLP. Wall Street Zen cut shares of Maui Land & Pineapple from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Weiss Ratings upgraded shares of Maui Land & Pineapple from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Maui Land & Pineapple Price Performance

The stock has a market capitalization of $323.00 million, a PE ratio of -81.30 and a beta of 0.67. The firm’s fifty day moving average price is $17.00 and its two-hundred day moving average price is $16.67. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21.

Maui Land & Pineapple (NYSE:MLP) last posted its earnings results on Friday, May 15th. The financial services provider reported ($0.10) earnings per share for the quarter. The firm had revenue of $3.40 million during the quarter. Maui Land & Pineapple had a negative net margin of 23.44% and a negative return on equity of 12.78%.

Hedge Funds Weigh In On Maui Land & Pineapple

Hedge funds and other institutional investors have recently modified their holdings of the stock. Valueworks LLC lifted its position in Maui Land & Pineapple by 21.1% during the fourth quarter. Valueworks LLC now owns 1,201,935 shares of the financial services provider’s stock valued at $20,361,000 after purchasing an additional 209,613 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Maui Land & Pineapple during the 1st quarter valued at about $159,000. TSP Capital Management Group LLC raised its position in shares of Maui Land & Pineapple by 0.3% during the 1st quarter. TSP Capital Management Group LLC now owns 1,102,001 shares of the financial services provider’s stock valued at $16,960,000 after buying an additional 3,560 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Maui Land & Pineapple by 75.8% in the 4th 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 during the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in shares of Maui Land & Pineapple by 4.0% in the 3rd quarter. Raymond James Financial Inc. now owns 77,540 shares of the financial services provider’s stock valued at $1,445,000 after acquiring an additional 2,985 shares during the last quarter. Institutional investors own 24.55% of the company’s stock.

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.