Maui Land & Pineapple (NYSE:MLP) Downgraded by Wall Street Zen to Sell

Wall Street Zen lowered shares of Maui Land & Pineapple (NYSE:MLP) from a hold rating to a sell rating in a report issued on Sunday morning.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Maui Land & Pineapple in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Maui Land & Pineapple Price Performance

Maui Land & Pineapple stock opened at $16.74 on Friday. The company’s 50-day moving average is $15.98 and its 200-day moving average is $16.91. The firm has a market capitalization of $330.38 million, a PE ratio of -28.36 and a beta of 0.65. Maui Land & Pineapple has a fifty-two week low of $13.84 and a fifty-two week high of $21.61.

Maui Land & Pineapple (NYSE:MLP) last posted its quarterly earnings results on Friday, November 14th. The financial services provider reported $0.01 EPS for the quarter. The business had revenue of $4.53 million during the quarter. Maui Land & Pineapple had a negative return on equity of 37.71% and a negative net margin of 61.64%.

Insider Buying and Selling

In other news, CEO Race A. Randle purchased 3,000 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was acquired at an average cost of $14.24 per share, with a total value of $42,720.00. Following the acquisition, the chief executive officer owned 54,597 shares in the company, valued at approximately $777,461.28. This trade represents a 5.81% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen M. Case acquired 5,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was purchased at an average cost of $16.79 per share, for a total transaction of $83,950.00. Following the completion of the acquisition, the director owned 11,987,534 shares in the company, valued at approximately $201,270,695.86. This represents a 0.04% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 31,389 shares of company stock worth $482,240. 65.88% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Maui Land & Pineapple

A number of hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. raised its stake in 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 worth $1,356,000 after purchasing an additional 1,000 shares in the last quarter. Strs Ohio bought a new position in shares of Maui Land & Pineapple during the first quarter worth approximately $26,000. Tower Research Capital LLC TRC raised its position in shares of 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 in the last quarter. NBC Securities Inc. raised its position in shares of Maui Land & Pineapple by 8.0% in the second quarter. NBC Securities Inc. now owns 46,740 shares of the financial services provider’s stock valued at $850,000 after buying an additional 3,450 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Maui Land & Pineapple in the first quarter valued at approximately $181,000. 24.55% of the stock is owned by institutional investors.

Maui Land & Pineapple Company Profile

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.