Maui Land & Pineapple (NYSE:MLP) Announces Earnings Results

Maui Land & Pineapple (NYSE:MLP) issued its earnings results on Friday. The financial services provider reported ($0.08) earnings per share (EPS) for the quarter, FiscalAI reports. Maui Land & Pineapple had a negative net margin of 23.44% and a negative return on equity of 12.78%. The business had revenue of $3.69 million for the quarter.

Maui Land & Pineapple Trading Down 1.7%

NYSE:MLP traded down $0.27 during trading hours on Friday, hitting $15.32. The company had a trading volume of 19,541 shares, compared to its average volume of 19,770. The stock has a 50-day moving average price of $17.29 and a 200 day moving average price of $16.65. Maui Land & Pineapple has a 52 week low of $13.84 and a 52 week high of $20.34. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market capitalization of $304.24 million, a PE ratio of -76.59 and a beta of 0.68.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MLP. Weiss Ratings raised shares of Maui Land & Pineapple from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 3rd. Wall Street Zen lowered shares of Maui Land & Pineapple from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Maui Land & Pineapple currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Maui Land & Pineapple

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. increased its stake in shares of Maui Land & Pineapple by 1.4% during the second 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Maui Land & Pineapple by 11.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 21,828 shares of the financial services provider’s stock worth $370,000 after purchasing an additional 2,189 shares in the last quarter. Barclays PLC grew its stake in shares of Maui Land & Pineapple by 9.2% in the 4th quarter. Barclays PLC now owns 10,616 shares of the financial services provider’s stock worth $180,000 after buying an additional 892 shares during the last quarter. Wells Fargo & Company MN grew 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, Deutsche Bank AG increased its position in Maui Land & Pineapple by 23.4% during the 4th quarter. Deutsche Bank AG now owns 5,264 shares of the financial services provider’s stock valued at $89,000 after buying an additional 999 shares in the last quarter. Hedge funds and other 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.