M/I Homes (NYSE:MHO) Insider Sells $72,078.80 in Stock

M/I Homes, Inc. (NYSE:MHO) insider Susan Krohne sold 491 shares of the stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $146.80, for a total transaction of $72,078.80. Following the sale, the insider owned 8,771 shares of the company’s stock, valued at approximately $1,287,582.80. This represents a 5.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

M/I Homes Trading Up 1.9%

NYSE MHO opened at $149.66 on Monday. The firm’s fifty day moving average is $134.36 and its two-hundred day moving average is $136.71. M/I Homes, Inc. has a one year low of $100.22 and a one year high of $158.92. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.72 and a current ratio of 7.54. The firm has a market cap of $3.91 billion, a PE ratio of 10.17 and a beta of 1.77.

M/I Homes (NYSE:MHO) last released its quarterly earnings results on Wednesday, January 28th. The construction company reported $3.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.88 by $0.03. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. M/I Homes had a return on equity of 14.50% and a net margin of 9.12%.The business’s revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the company posted $4.71 earnings per share. Analysts expect that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

M/I Homes announced 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 reacquire up to 7.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On M/I Homes

Several institutional investors have recently modified their holdings of the company. Junto Capital Management LP purchased a new position in M/I Homes in the 3rd quarter valued at approximately $35,871,000. Invesco Ltd. grew its holdings in M/I Homes by 116.4% in the third quarter. Invesco Ltd. now owns 300,912 shares of the construction company’s stock valued at $43,464,000 after purchasing an additional 161,881 shares during the last quarter. Donald Smith & CO. Inc. increased its position in shares of M/I Homes by 9.8% in the second quarter. Donald Smith & CO. Inc. now owns 1,408,390 shares of the construction company’s stock valued at $157,909,000 after buying an additional 125,423 shares in the last quarter. Long Pond Capital LP acquired a new position in shares of M/I Homes during the 2nd quarter worth $13,694,000. Finally, Gradient Investments LLC boosted its position in shares of M/I Homes by 689.4% in the 4th quarter. Gradient Investments LLC now owns 114,773 shares of the construction company’s stock worth $14,685,000 after buying an additional 100,233 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Citigroup restated a “market outperform” rating on shares of M/I Homes in a research note on Friday, January 30th. Raymond James Financial increased their price target on shares of M/I Homes from $150.00 to $155.00 and gave the stock a “strong-buy” rating in a report on Friday, October 24th. Zacks Research lowered M/I Homes from a “hold” rating to a “strong sell” rating in a 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. Finally, Citizens Jmp began coverage on M/I Homes in a report on Wednesday, January 7th. They issued a “market outperform” rating and a $165.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.