SummitTX Capital L.P. Grows Stake in M/I Homes, Inc. $MHO

SummitTX Capital L.P. grew its stake in shares of M/I Homes, Inc. (NYSE:MHO) by 19.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,574 shares of the construction company’s stock after acquiring an additional 6,816 shares during the period. SummitTX Capital L.P.’s holdings in M/I Homes were worth $5,213,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Capelight Capital Asset Management LP purchased a new position in M/I Homes in the fourth quarter valued at approximately $7,037,000. SG Americas Securities LLC raised its stake in shares of M/I Homes by 148.7% in the fourth quarter. SG Americas Securities LLC now owns 7,995 shares of the construction company’s stock valued at $1,023,000 after buying an additional 4,780 shares during the period. Verity Asset Management Inc. purchased a new position in shares of M/I Homes during the 4th quarter valued at $1,074,000. First Eagle Investment Management LLC lifted its position in shares of M/I Homes by 110.1% during the 4th quarter. First Eagle Investment Management LLC now owns 60,100 shares of the construction company’s stock valued at $7,690,000 after buying an additional 31,495 shares during the last quarter. Finally, Denali Advisors LLC grew its stake in shares of M/I Homes by 320.7% during the 4th quarter. Denali Advisors LLC now owns 55,239 shares of the construction company’s stock worth $7,068,000 after acquiring an additional 42,108 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Analysts Set New Price Targets

MHO has been the subject of several recent research reports. Zelman & Associates lowered M/I Homes from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 7th. Freedom Capital raised shares of M/I Homes to a “strong-buy” rating in a report on Wednesday, June 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of M/I Homes in a research report on Friday, May 15th. Zacks Research upgraded shares of M/I Homes from a “strong sell” rating to a “hold” rating in a research note on Friday, June 26th. Finally, Seaport Research Partners reissued a “neutral” rating on shares of M/I Homes in a research report on Tuesday, April 7th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.67.

M/I Homes Stock Performance

Shares of MHO opened at $148.75 on Tuesday. M/I Homes, Inc. has a 12-month low of $116.78 and a 12-month high of $163.66. The company has a current ratio of 8.40, a quick ratio of 1.95 and a debt-to-equity ratio of 0.30. The company has a market cap of $3.81 billion, a PE ratio of 11.20 and a beta of 1.60. The stock has a 50-day moving average price of $144.56 and a 200-day moving average price of $136.66.

M/I Homes Profile

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.