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 Sunday morning.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Maui Land & Pineapple in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Maui Land & Pineapple Trading Up 0.2%

Shares of NYSE MLP opened at $16.99 on Friday. The stock has a market cap of $335.40 million, a PE ratio of -28.80 and a beta of 0.65. Maui Land & Pineapple has a 12-month low of $13.84 and a 12-month high of $21.34. The company has a 50-day moving average of $16.02 and a 200 day moving average of $16.91.

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

Insiders Place Their Bets

In other Maui Land & Pineapple news, CEO Race A. Randle acquired 3,000 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The stock was purchased at an average cost of $14.24 per share, with a total value of $42,720.00. Following the transaction, the chief executive officer owned 54,597 shares of the company’s stock, valued at $777,461.28. This trade represents a 5.81% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Stephen M. Case acquired 5,000 shares of Maui Land & Pineapple stock in a transaction that occurred on Thursday, December 11th. The stock was bought at an average price 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 $201,270,695.86. This trade represents a 0.04% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have bought 31,389 shares of company stock valued at $482,240. Company insiders own 65.88% of the company’s stock.

Hedge Funds Weigh In On Maui Land & Pineapple

Several large investors have recently made changes to their positions in MLP. Raymond James Financial Inc. increased its holdings 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 valued at $1,356,000 after purchasing an additional 1,000 shares during the last quarter. Strs Ohio acquired a new stake in shares of Maui Land & Pineapple in the first quarter valued at $26,000. Tower Research Capital LLC TRC raised its holdings in shares of Maui Land & Pineapple by 339.6% in the 2nd 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 during the period. NBC Securities Inc. lifted its stake in Maui Land & Pineapple by 8.0% during the 2nd quarter. NBC Securities Inc. now owns 46,740 shares of the financial services provider’s stock worth $850,000 after acquiring an additional 3,450 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Maui Land & Pineapple during the 1st quarter valued at about $181,000. 24.55% of the stock is currently owned by institutional investors and hedge funds.

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.