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

M/I Homes, Inc. (NYSE:MHO) CFO Phillip Creek sold 20,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $149.56, for a total transaction of $2,991,200.00. Following the transaction, the chief financial officer owned 30,918 shares in the company, valued at $4,624,096.08. This trade represents a 39.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

M/I Homes Trading Down 2.6%

Shares of M/I Homes stock traded down $3.91 during trading on Thursday, hitting $146.63. The stock had a trading volume of 154,326 shares, compared to its average volume of 247,538. M/I Homes, Inc. has a 12 month low of $116.78 and a 12 month high of $163.66. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.65 and a quick ratio of 1.59. The firm’s fifty day simple moving average is $147.50 and its 200-day simple moving average is $137.37. The stock has a market cap of $3.71 billion, a PE ratio of 12.34 and a beta of 1.60.

M/I Homes (NYSE:MHO) last issued its quarterly earnings results on Wednesday, July 29th. The construction company reported $3.14 EPS for the quarter, beating the consensus estimate of $3.13 by $0.01. M/I Homes had a net margin of 7.44% and a return on equity of 11.53%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the firm posted $4.42 EPS. The firm’s revenue was down 6.0% compared to the same quarter last year. As a group, sell-side analysts expect that M/I Homes, Inc. will post 12.62 EPS for the current fiscal year.

Institutional Trading of M/I Homes

A number of hedge funds have recently added to or reduced their stakes in the business. Hilton Head Capital Partners LLC purchased a new stake in shares of M/I Homes in the 4th quarter worth approximately $28,000. EverSource Wealth Advisors LLC raised its stake 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 in the last quarter. Langley Wealth Management LLC purchased a new stake in M/I Homes during the second quarter worth $45,000. Aster Capital Management DIFC Ltd purchased a new stake in M/I Homes during the fourth quarter worth $49,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in M/I Homes by 1,090.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 500 shares of the construction company’s stock valued at $64,000 after acquiring an additional 458 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of M/I Homes in a report on Friday, May 15th. Freedom Capital raised M/I Homes to a “strong-buy” rating in a research report on Wednesday, June 24th. Zelman & Associates lowered M/I Homes from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 7th. Zacks Research upgraded M/I Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. Finally, New Street Research set a $172.00 target price on shares of M/I Homes in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, M/I Homes currently has an average rating of “Moderate Buy” and a consensus price target of $164.25.

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.