Maui Land & Pineapple (NYSE:MLP) Stock Price Crosses Below 200-Day Moving Average - Here's Why

Shares of Maui Land & Pineapple Company, Inc. (NYSE:MLP - Get Free Report) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.98 and traded as low as $21.01. Maui Land & Pineapple shares last traded at $21.71, with a volume of 10,016 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com downgraded Maui Land & Pineapple from a "hold" rating to a "sell" rating in a research note on Tuesday, August 13th.

Maui Land & Pineapple Price Performance

The stock's 50-day moving average price is $23.28 and its 200 day moving average price is $21.98.

Maui Land & Pineapple (NYSE:MLP - Get Free Report) last posted its quarterly earnings results on Monday, August 19th. The financial services provider reported ($0.09) EPS for the quarter. The company had revenue of $2.65 million during the quarter. Maui Land & Pineapple had a negative net margin of 34.12% and a negative return on equity of 11.32%.

Hedge Funds Weigh In On Maui Land & Pineapple

Large investors have recently modified their holdings of the business. Herr Investment Group LLC lifted its stake in Maui Land & Pineapple by 47.8% during the first quarter. Herr Investment Group LLC now owns 419,602 shares of the financial services provider's stock worth $9,089,000 after purchasing an additional 135,791 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Maui Land & Pineapple by 154.4% during the 1st quarter. BNP Paribas Financial Markets now owns 6,245 shares of the financial services provider's stock worth $135,000 after acquiring an additional 3,790 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Maui Land & Pineapple by 1.0% during the 2nd quarter. Renaissance Technologies LLC now owns 107,449 shares of the financial services provider's stock valued at $2,369,000 after acquiring an additional 1,100 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Maui Land & Pineapple by 3.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 20,032 shares of the financial services provider's stock valued at $442,000 after acquiring an additional 660 shares in the last quarter. Institutional investors and hedge funds own 24.55% of the company's stock.

Maui Land & Pineapple Company Profile

Maui Land & Pineapple Company, Inc, together with its subsidiaries, engages in the planning, managing, developing, and selling residential, resort, commercial, agricultural, and industrial real estate properties in the United States. It operates through Land Development & Sales, Leasing, and Resort Amenities segments.