Cim Investment Management Inc. Invests $246,000 in M/I Homes, Inc. (NYSE:MHO)

Cim Investment Management Inc. bought a new position in shares of M/I Homes, Inc. (NYSE:MHO) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 1,433 shares of the construction company’s stock, valued at approximately $246,000.

Several other large investors have also added to or reduced their stakes in MHO. V Square Quantitative Management LLC acquired a new position in shares of M/I Homes during the 3rd quarter worth about $27,000. Signaturefd LLC boosted its position in M/I Homes by 42.8% during the second quarter. Signaturefd LLC now owns 237 shares of the construction company’s stock valued at $29,000 after purchasing an additional 71 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in M/I Homes in the third quarter valued at approximately $86,000. CWM LLC grew its stake in M/I Homes by 184.8% in the second quarter. CWM LLC now owns 507 shares of the construction company’s stock valued at $62,000 after purchasing an additional 329 shares in the last quarter. Finally, Private Trust Co. NA acquired a new position in shares of M/I Homes during the 3rd quarter worth approximately $88,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on MHO. Wedbush raised shares of M/I Homes from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $155.00 to $185.00 in a research report on Monday, November 4th. StockNews.com downgraded shares of M/I Homes from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 31st.

M/I Homes Stock Performance

Shares of MHO stock opened at $155.74 on Friday. M/I Homes, Inc. has a 52 week low of $109.92 and a 52 week high of $176.18. The company has a market capitalization of $4.32 billion, a price-to-earnings ratio of 8.35 and a beta of 2.23. The company has a 50-day simple moving average of $161.11 and a 200 day simple moving average of $150.17. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.60 and a current ratio of 6.81.

Insider Transactions at M/I Homes

In other M/I Homes news, CFO Phillip G. Creek sold 20,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $160.00, for a total value of $3,200,000.00. Following the completion of the sale, the chief financial officer now owns 18,545 shares of the company’s stock, valued at $2,967,200. The trade was a 51.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 3.70% of the company’s stock.

About M/I Homes

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.