Quantbot Technologies LP Has $4.63 Million Stake in M/I Homes, Inc. $MHO

Quantbot Technologies LP cut its holdings in shares of M/I Homes, Inc. (NYSE:MHO) by 17.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,073 shares of the construction company’s stock after selling 6,871 shares during the quarter. Quantbot Technologies LP owned about 0.12% of M/I Homes worth $4,633,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC acquired a new stake in shares of M/I Homes during the third quarter worth $28,000. Jones Financial Companies Lllp lifted its position in M/I Homes by 73.1% during the third quarter. Jones Financial Companies Lllp now owns 206 shares of the construction company’s stock worth $30,000 after purchasing an additional 87 shares during the period. Private Trust Co. NA bought a new stake in M/I Homes during the third quarter worth $38,000. EverSource Wealth Advisors LLC lifted its position in shares of M/I Homes by 90.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock worth $32,000 after buying an additional 135 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in M/I Homes by 58.6% in the second quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the construction company’s stock valued at $52,000 after acquiring an additional 170 shares during the last quarter. 95.14% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Phillip G. Creek sold 8,616 shares of M/I Homes stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $146.80, for a total transaction of $1,264,828.80. Following the sale, the chief financial officer owned 45,815 shares of the company’s stock, valued at approximately $6,725,642. The trade was a 15.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Susan E. Krohne sold 5,000 shares of the business’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $134.28, for a total transaction of $671,400.00. Following the sale, the insider owned 6,167 shares in the company, valued at approximately $828,104.76. This trade represents a 44.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 49,213 shares of company stock valued at $7,115,268. Insiders own 3.70% of the company’s stock.

M/I Homes Trading Up 0.7%

M/I Homes stock opened at $142.10 on Monday. The stock has a market cap of $3.66 billion, a P/E ratio of 9.66 and a beta of 1.77. M/I Homes, Inc. has a fifty-two week low of $100.22 and a fifty-two week high of $158.92. The firm’s fifty day moving average price is $136.45 and its 200-day moving average price is $137.64. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.86 and a current ratio of 8.12.

M/I Homes (NYSE:MHO) last announced its earnings results on Wednesday, January 28th. The construction company reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.03. M/I Homes had a net margin of 9.12% and a return on equity of 14.50%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the business earned $4.71 earnings per share. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. Equities research analysts forecast that M/I Homes, Inc. will post 18.44 earnings per share for the current fiscal year.

M/I Homes announced that its board has approved a share repurchase program on Wednesday, November 12th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 7.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

MHO has been the subject of several research reports. Zacks Research downgraded M/I Homes from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Oppenheimer set a $165.00 price target on shares of M/I Homes in a research note on Friday, January 30th. Weiss Ratings restated a “hold (c+)” rating on shares of M/I Homes in a research note on Thursday, January 22nd. Citizens Jmp initiated coverage on M/I Homes in a research report on Wednesday, January 7th. They set a “market outperform” rating and a $165.00 target price on the stock. Finally, Citigroup reissued a “market outperform” rating on shares of M/I Homes in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $161.67.

About M/I Homes

M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations.

In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services.