Quantbot Technologies LP Lowers Position in M/I Homes, Inc. $MHO

Quantbot Technologies LP reduced its stake in shares of M/I Homes, Inc. (NYSE:MHO) by 17.6% during the third quarter, Holdings Channel reports. The institutional investor owned 32,073 shares of the construction company’s stock after selling 6,871 shares during the period. Quantbot Technologies LP’s holdings in M/I Homes were worth $4,633,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in MHO. Salomon & Ludwin LLC purchased a new stake in M/I Homes during the 3rd quarter valued at approximately $28,000. Jones Financial Companies Lllp increased its holdings in M/I Homes by 73.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 206 shares of the construction company’s stock valued at $30,000 after acquiring an additional 87 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in M/I Homes by 90.6% in 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 in the last quarter. Private Trust Co. NA purchased a new position in shares of M/I Homes during the third quarter valued at about $38,000. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of M/I Homes by 58.6% in the second quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the construction company’s stock worth $52,000 after purchasing an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Transactions at M/I Homes

In other M/I Homes news, CFO Phillip G. Creek sold 8,616 shares of M/I Homes stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $146.80, for a total transaction of $1,264,828.80. Following the completion of the sale, the chief financial officer directly owned 45,815 shares in the company, valued at $6,725,642. This trade represents a 15.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert H. Schottenstein sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $144.47, for a total value of $2,889,400.00. Following the completion of the sale, the chief executive officer directly owned 313,874 shares in the company, valued at approximately $45,345,376.78. The trade was a 5.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 49,213 shares of company stock worth $7,115,268 in the last quarter. Company insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

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

M/I Homes Trading Up 0.7%

MHO stock opened at $142.10 on Monday. The company has a quick ratio of 1.86, a current ratio of 8.12 and a debt-to-equity ratio of 0.31. M/I Homes, Inc. has a 52-week low of $100.22 and a 52-week high of $158.92. The company’s 50-day simple moving average is $136.45 and its 200-day simple moving average is $137.64. The firm has a market cap of $3.66 billion, a P/E ratio of 9.66 and a beta of 1.77.

M/I Homes (NYSE:MHO) last released its earnings results on Wednesday, January 28th. The construction company reported $3.91 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the company earned $4.71 earnings per share. The company’s quarterly revenue was down 4.9% on a year-over-year basis. As a group, equities analysts forecast that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

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

M/I Homes Profile

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.