M/I Homes (NYSE:MHO) CFO Sells $1,264,828.80 in Stock

M/I Homes, Inc. (NYSE:MHO) CFO Phillip Creek sold 8,616 shares of the business’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 $1,264,828.80. Following the sale, the chief financial officer owned 45,815 shares in the company, valued at $6,725,642. The trade was a 15.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

M/I Homes Stock Up 1.9%

Shares of NYSE MHO opened at $149.66 on Monday. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of 10.17 and a beta of 1.77. M/I Homes, Inc. has a 52 week low of $100.22 and a 52 week high of $158.92. The firm has a 50-day moving average price of $134.36 and a 200 day moving average price of $136.71. The company has a quick ratio of 1.72, a current ratio of 7.54 and a debt-to-equity ratio of 0.31.

M/I Homes (NYSE:MHO) last issued its earnings results on Wednesday, January 28th. The construction company reported $3.91 earnings per share for the quarter, topping 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 company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the business posted $4.71 earnings per share. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. Equities research analysts anticipate that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

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

Hedge Funds Weigh In On M/I Homes

A number of institutional investors have recently modified their holdings of the company. Inspire Advisors LLC acquired a new stake in M/I Homes during the fourth quarter worth approximately $265,000. Rafferty Asset Management LLC boosted its holdings in shares of M/I Homes by 7.5% during the fourth quarter. Rafferty Asset Management LLC now owns 42,799 shares of the construction company’s stock worth $5,476,000 after purchasing an additional 2,968 shares during the last quarter. A4 Wealth Advisors LLC purchased a new stake in shares of M/I Homes in the fourth quarter valued at $214,000. State Street Corp increased its stake in M/I Homes by 2.2% in the fourth quarter. State Street Corp now owns 1,337,188 shares of the construction company’s stock valued at $171,093,000 after purchasing an additional 28,187 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in M/I Homes by 6.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 55,845 shares of the construction company’s stock worth $7,145,000 after buying an additional 3,303 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on MHO. Citigroup reissued a “market outperform” rating on shares of M/I Homes in a report on Friday, January 30th. Citizens Jmp assumed coverage on shares of M/I Homes in a research note on Wednesday, January 7th. They issued a “market outperform” rating and a $165.00 price objective on the stock. 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. Oppenheimer set a $165.00 price target on shares of M/I Homes in a report on Friday, January 30th. Finally, Raymond James Financial raised their price objective 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. One investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, M/I Homes currently has a consensus rating of “Moderate Buy” and a consensus 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.