Maui Land & Pineapple (NYSE:MLP) Shares Cross Below 200-Day Moving Average – Here’s Why

Maui Land & Pineapple Company, Inc. (NYSE:MLP)’s stock price passed below 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 low as $15.45. Maui Land & Pineapple shares last traded at $15.50, with a volume of 7,773 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wall Street Zen upgraded Maui Land & Pineapple from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Maui Land & Pineapple in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Maui Land & Pineapple Price Performance

The company has a market cap of $303.50 million, a P/E ratio of -26.06 and a beta of 0.66. The stock has a fifty day moving average price of $16.59 and a two-hundred day moving average price of $16.68.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MLP. Valueworks LLC grew its position in Maui Land & Pineapple by 21.1% in the 4th quarter. Valueworks LLC now owns 1,201,935 shares of the financial services provider’s stock worth $20,361,000 after purchasing an additional 209,613 shares in the last quarter. Steinberganna Wealth Management bought a new position in shares of Maui Land & Pineapple during the 3rd quarter worth approximately $304,000. Diametric Capital LP bought a new position in shares of Maui Land & Pineapple during the 2nd quarter worth approximately $198,000. Wells Fargo & Company MN boosted its stake 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 worth $127,000 after buying an additional 3,224 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its stake 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 worth $1,445,000 after buying an additional 2,985 shares during the last quarter. 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.