Maui Land & Pineapple (NYSE:MLP) Issues Quarterly Earnings Results

Maui Land & Pineapple (NYSE:MLP) released its quarterly earnings results on Tuesday. The financial services provider reported ($0.06) earnings per share for the quarter, FiscalAI reports. Maui Land & Pineapple had a negative return on equity of 37.71% and a negative net margin of 61.64%.The firm had revenue of $4.53 million for the quarter.

Maui Land & Pineapple Stock Performance

Shares of MLP stock traded up $0.42 during trading on Wednesday, hitting $15.81. The company had a trading volume of 22,713 shares, compared to its average volume of 17,909. The firm has a market capitalization of $312.20 million, a P/E ratio of -26.54 and a beta of 0.66. Maui Land & Pineapple has a one year low of $13.84 and a one year high of $20.34. The stock’s 50-day moving average price is $16.53 and its 200 day moving average price is $16.63.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised 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 research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Maui Land & Pineapple presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Maui Land & Pineapple

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Valueworks LLC lifted its holdings in shares of Maui Land & Pineapple by 21.1% during the 4th quarter. Valueworks LLC now owns 1,201,935 shares of the financial services provider’s stock worth $20,361,000 after acquiring an additional 209,613 shares during the period. Steinberganna Wealth Management bought a new position in Maui Land & Pineapple in the third quarter valued at approximately $304,000. Diametric Capital LP bought a new position in Maui Land & Pineapple in the second quarter valued at approximately $198,000. Wells Fargo & Company MN raised its position in Maui Land & Pineapple by 75.8% during the fourth quarter. Wells Fargo & Company MN now owns 7,477 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 3,224 shares in the last quarter. Finally, Raymond James Financial Inc. raised its position in Maui Land & Pineapple by 4.0% during the third quarter. Raymond James Financial Inc. now owns 77,540 shares of the financial services provider’s stock valued at $1,445,000 after purchasing an additional 2,985 shares in the last quarter. 24.55% of the stock is owned by institutional investors and hedge funds.

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.