M/I Homes, Inc. $MHO Shares Acquired by Voss Capital LP

Voss Capital LP increased its holdings in M/I Homes, Inc. (NYSE:MHO) by 195.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 125,000 shares of the construction company’s stock after acquiring an additional 82,625 shares during the quarter. M/I Homes makes up about 1.0% of Voss Capital LP’s holdings, making the stock its 26th biggest position. Voss Capital LP’s holdings in M/I Homes were worth $14,015,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of MHO. EverSource Wealth Advisors LLC grew its position in M/I Homes by 90.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock worth $32,000 after purchasing an additional 135 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of M/I Homes by 58.6% during the second quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the construction company’s stock worth $52,000 after buying an additional 170 shares during the last quarter. Covestor Ltd increased its position in M/I Homes by 134.8% in the 1st quarter. Covestor Ltd now owns 655 shares of the construction company’s stock valued at $75,000 after acquiring an additional 376 shares during the period. Strs Ohio acquired a new position in M/I Homes in the 1st quarter valued at about $114,000. Finally, National Bank of Canada FI raised its stake in M/I Homes by 36.1% during the 1st quarter. National Bank of Canada FI now owns 1,164 shares of the construction company’s stock valued at $133,000 after acquiring an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MHO shares. Zacks Research upgraded M/I Homes from a “strong sell” rating to a “hold” rating in a research note on Friday, September 26th. Zelman & Associates upgraded shares of M/I Homes from a “neutral” rating to an “outperform” rating in a research report on Tuesday, August 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of M/I Homes in a research note on Wednesday, October 8th. Finally, Raymond James Financial raised their target price on shares of M/I Homes from $150.00 to $155.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 24th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, M/I Homes currently has an average rating of “Buy” and a consensus target price of $155.00.

M/I Homes Stock Down 0.7%

M/I Homes stock opened at $133.51 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.15 and a quick ratio of 1.59. M/I Homes, Inc. has a 1-year low of $100.22 and a 1-year high of $163.66. The company has a market cap of $3.49 billion, a PE ratio of 7.84 and a beta of 1.72. The stock’s 50 day moving average price is $133.25 and its 200 day moving average price is $129.07.

M/I Homes (NYSE:MHO) last released its quarterly earnings data on Wednesday, October 22nd. The construction company reported $3.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.37 by ($0.45). M/I Homes had a return on equity of 15.72% and a net margin of 10.56%.The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.16 billion. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, sell-side analysts predict that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

M/I Homes announced that its Board of Directors has approved a stock buyback plan on Wednesday, November 12th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the construction company to reacquire up to 7.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

M/I Homes Company Profile

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.