Maui Land & Pineapple (NYSE:MLP) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Maui Land & Pineapple (NYSE:MLP) from a hold rating to a sell rating in a research note released on Saturday morning.

Maui Land & Pineapple Trading Up 0.2%

Shares of MLP opened at $16.44 on Friday. Maui Land & Pineapple has a 52-week low of $14.05 and a 52-week high of $26.46. The business’s fifty day moving average is $17.25 and its 200-day moving average is $17.54. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $324.53 million, a price-to-earnings ratio of -21.92 and a beta of 0.81.

Maui Land & Pineapple (NYSE:MLP) last issued its earnings results on Thursday, May 15th. The financial services provider reported ($0.44) earnings per share (EPS) for the quarter. Maui Land & Pineapple had a negative return on equity of 45.76% and a negative net margin of 98.43%. The firm had revenue of $5.80 million during the quarter.

Insider Activity at Maui Land & Pineapple

In other news, Director Stephen M. Case purchased 3,339 shares of the business’s stock in a transaction dated Friday, June 13th. The shares were purchased at an average cost of $17.43 per share, with a total value of $58,198.77. Following the completion of the purchase, the director owned 11,921,445 shares of the company’s stock, valued at $207,790,786.35. This trade represents a 0.03% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders bought 9,409 shares of company stock worth $154,161 over the last quarter. Company insiders own 65.88% of the company’s stock.

Institutional Trading of Maui Land & Pineapple

Hedge funds have recently made changes to their positions in the company. First Hawaiian Bank acquired a new stake in shares of Maui Land & Pineapple during the first quarter valued at about $52,710,000. JPMorgan Chase & Co. grew its position in shares of Maui Land & Pineapple by 374.6% in the 4th quarter. JPMorgan Chase & Co. now owns 26,344 shares of the financial services provider’s stock valued at $579,000 after buying an additional 20,793 shares during the last quarter. Bank of America Corp DE grew its position in shares of Maui Land & Pineapple by 27.3% in the 4th quarter. Bank of America Corp DE now owns 10,181 shares of the financial services provider’s stock valued at $224,000 after buying an additional 2,182 shares during the last quarter. NBC Securities Inc. grew its position in shares of Maui Land & Pineapple by 127,223.5% in the 1st quarter. NBC Securities Inc. now owns 43,290 shares of the financial services provider’s stock valued at $760,000 after buying an additional 43,256 shares during the last quarter. Finally, Valueworks LLC grew its position in shares of Maui Land & Pineapple by 9.8% in the 4th quarter. Valueworks LLC now owns 803,267 shares of the financial services provider’s stock valued at $17,656,000 after buying an additional 71,751 shares during the last quarter. 24.55% of the stock is owned by institutional investors and hedge funds.

Maui Land & Pineapple Company Profile

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.