M/I Homes, Inc. (NYSE:MHO) Sees Significant Decline in Short Interest

M/I Homes, Inc. (NYSE:MHO) was the recipient of a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 722,400 shares, a decrease of 17.1% from the March 31st total of 871,400 shares. Based on an average trading volume of 274,500 shares, the days-to-cover ratio is presently 2.6 days. Currently, 2.6% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MHO. StockNews.com upgraded shares of M/I Homes from a “buy” rating to a “strong-buy” rating in a research note on Friday. Wedbush reissued a “neutral” rating and issued a $130.00 price target (up previously from $116.00) on shares of M/I Homes in a report on Wednesday, April 24th.

Insiders Place Their Bets

In other M/I Homes news, insider Ann Marie Hunker sold 2,461 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $128.51, for a total transaction of $316,263.11. Following the sale, the insider now owns 2,342 shares in the company, valued at $300,970.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC raised its position in shares of M/I Homes by 112.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 12,188 shares of the construction company’s stock worth $1,024,000 after buying an additional 6,463 shares in the last quarter. Stratos Wealth Partners LTD. bought a new stake in M/I Homes during the third quarter worth approximately $908,000. GW Henssler & Associates Ltd. bought a new stake in M/I Homes during the third quarter worth approximately $216,000. Summit Financial Strategies Inc. acquired a new stake in M/I Homes in the third quarter worth approximately $304,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in M/I Homes by 25.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,577 shares of the construction company’s stock valued at $637,000 after purchasing an additional 1,559 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

M/I Homes Stock Performance

Shares of M/I Homes stock traded up $1.15 during trading on Monday, hitting $121.22. 231,267 shares of the stock were exchanged, compared to its average volume of 273,172. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.86 and a current ratio of 6.51. The stock’s fifty day moving average is $123.21 and its 200 day moving average is $116.54. The stock has a market cap of $3.37 billion, a PE ratio of 6.92 and a beta of 2.13. M/I Homes has a 12 month low of $65.42 and a 12 month high of $140.73.

M/I Homes (NYSE:MHO) last announced its quarterly earnings results on Wednesday, April 24th. The construction company reported $4.78 EPS for the quarter, beating the consensus estimate of $3.96 by $0.82. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. M/I Homes had a net margin of 12.27% and a return on equity of 20.26%. As a group, sell-side analysts anticipate that M/I Homes will post 18.18 EPS for the current year.

About M/I Homes

M/I Homes, Inc, together with its subsidiaries, engages in the construction and sale of single-family residential homes in Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee. The company operates through Northern Homebuilding, Southern Homebuilding, and Financial Services segments.