Insider Selling: M/I Homes, Inc. (MHO) CEO Sells $504,020.00 in Stock
M/I Homes, Inc. (NYSE:MHO) CEO Robert H. Schottenstein sold 15,800 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $31.90, for a total value of $504,020.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
M/I Homes (NYSE:MHO) last released its earnings results on Wednesday, October 25th. The construction company reported $0.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.05). The firm had revenue of $476.40 million during the quarter, compared to the consensus estimate of $475.42 million. M/I Homes had a return on equity of 12.31% and a net margin of 4.00%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 EPS.
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Several research analysts have recently issued reports on the company. BidaskClub downgraded M/I Homes from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. Zacks Investment Research raised M/I Homes from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Tuesday, September 26th. Finally, ValuEngine downgraded M/I Homes from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. M/I Homes has a consensus rating of “Buy” and an average price target of $34.00.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in M/I Homes by 3.3% in the 2nd quarter. BlackRock Inc. now owns 3,700,251 shares of the construction company’s stock worth $105,640,000 after buying an additional 117,165 shares during the last quarter. Donald Smith & CO. Inc. lifted its position in M/I Homes by 7.8% in the 2nd quarter. Donald Smith & CO. Inc. now owns 1,630,431 shares of the construction company’s stock worth $46,549,000 after buying an additional 118,124 shares during the last quarter. Vanguard Group Inc. lifted its position in M/I Homes by 16.9% in the 1st quarter. Vanguard Group Inc. now owns 1,354,514 shares of the construction company’s stock worth $33,185,000 after buying an additional 195,533 shares during the last quarter. State Street Corp lifted its position in M/I Homes by 1.6% in the 1st quarter. State Street Corp now owns 726,435 shares of the construction company’s stock worth $17,797,000 after buying an additional 11,747 shares during the last quarter. Finally, Royce & Associates LP increased its stake in M/I Homes by 11.9% in the 2nd quarter. Royce & Associates LP now owns 577,500 shares of the construction company’s stock worth $16,488,000 after purchasing an additional 61,400 shares during the period.
About M/I Homes
M/I Homes, Inc is a builder of single-family homes. The Company consists of two operations: homebuilding and financial services. It operates through Midwest homebuilding, Southern homebuilding, Mid-Atlantic homebuilding and financial services operations segments. The Company and its subsidiaries are engaged primarily in the construction and sale of single-family residential homes in 15 markets: Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St.
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