Insider Selling: M/I Homes (NYSE:MHO) CEO Sells 20,000 Shares of Stock

M/I Homes, Inc. (NYSE:MHO) CEO Robert Schottenstein sold 20,000 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $144.47, for a total transaction of $2,889,400.00. Following the transaction, the chief executive officer owned 313,874 shares of the company’s stock, valued at $45,345,376.78. This represents a 5.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

M/I Homes Stock Performance

Shares of NYSE:MHO traded down $0.33 during trading hours on Wednesday, hitting $145.08. The stock had a trading volume of 167,851 shares, compared to its average volume of 251,837. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.72 and a current ratio of 7.54. The stock’s fifty day simple moving average is $133.65 and its 200 day simple moving average is $136.18. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of 9.86 and a beta of 1.77. M/I Homes, Inc. has a 1-year low of $100.22 and a 1-year high of $158.92.

M/I Homes (NYSE:MHO) last posted its earnings results on Wednesday, January 28th. The construction company reported $3.91 EPS for the quarter, beating the consensus estimate of $3.88 by $0.03. M/I Homes had a return on equity of 14.50% and a net margin of 9.12%.The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the firm earned $4.71 EPS. The firm’s revenue was down 4.9% compared to the same quarter last year. Sell-side analysts anticipate that M/I Homes, Inc. will post 18.44 earnings per share for the current fiscal year.

M/I Homes declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 12th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 7.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

Institutional Trading of M/I Homes

Several hedge funds and other institutional investors have recently modified their holdings of MHO. Salomon & Ludwin LLC purchased a new position in M/I Homes in the third quarter valued at about $28,000. Hilton Head Capital Partners LLC bought a new stake in shares of M/I Homes in the 4th quarter valued at approximately $28,000. Jones Financial Companies Lllp increased its holdings in M/I Homes by 73.1% in the third quarter. Jones Financial Companies Lllp now owns 206 shares of the construction company’s stock worth $30,000 after buying an additional 87 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in M/I Homes by 90.6% in the second 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, Private Trust Co. NA acquired a new position in M/I Homes in the third quarter worth approximately $38,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

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.