Robert Schottenstein Sells 14,974 Shares of M/I Homes (NYSE:MHO) Stock

M/I Homes, Inc. (NYSE:MHO) CEO Robert Schottenstein sold 14,974 shares of the company’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $146.80, for a total transaction of $2,198,183.20. Following the transaction, the chief executive officer owned 348,513 shares of the company’s stock, valued at approximately $51,161,708.40. This represents a 4.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

M/I Homes Price Performance

NYSE MHO traded up $2.84 on Friday, reaching $149.66. The company had a trading volume of 383,565 shares, compared to its average volume of 262,682. The stock has a market capitalization of $3.91 billion, a PE ratio of 10.17 and a beta of 1.77. M/I Homes, Inc. has a 12 month low of $100.22 and a 12 month high of $158.92. The company has a quick ratio of 1.72, a current ratio of 7.54 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average price is $134.04 and its 200 day moving average price is $136.32.

M/I Homes (NYSE:MHO) last released its quarterly earnings data 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 net margin of 9.12% and a return on equity of 14.50%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm earned $4.71 EPS. The business’s revenue was down 4.9% on a year-over-year basis. As a group, equities analysts predict that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

M/I Homes declared that its board has authorized a stock repurchase plan on Wednesday, November 12th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the construction company to buy up to 7.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of M/I Homes

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Salomon & Ludwin LLC purchased a new position in shares of M/I Homes in the 3rd quarter valued at $28,000. Jones Financial Companies Lllp raised its stake in shares of M/I Homes by 73.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 206 shares of the construction company’s stock worth $30,000 after acquiring an additional 87 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new stake in M/I Homes during the fourth quarter valued at approximately $28,000. Private Trust Co. NA acquired a new stake in M/I Homes in the third quarter valued at approximately $38,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of M/I Homes by 90.6% during the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock worth $32,000 after purchasing an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.