M/I Homes (NYSE:MHO) CFO Phillip Creek Sells 8,616 Shares

M/I Homes, Inc. (NYSE:MHO) CFO Phillip Creek sold 8,616 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $146.80, for a total value of $1,264,828.80. Following the sale, the chief financial officer owned 45,815 shares in the company, valued at approximately $6,725,642. This trade represents a 15.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

M/I Homes Price Performance

Shares of M/I Homes stock opened at $149.66 on Friday. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 10.17 and a beta of 1.77. 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 stock has a 50 day moving average price of $134.36 and a 200-day moving average price of $136.50. M/I Homes, Inc. has a one year low of $100.22 and a one year high of $158.92.

M/I Homes (NYSE:MHO) last issued 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. M/I Homes had a return on equity of 14.50% and a net margin of 9.12%.The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the company earned $4.71 earnings per share. M/I Homes’s revenue was down 4.9% on a year-over-year basis. Equities analysts expect that M/I Homes, Inc. will post 18.44 EPS for the current year.

M/I Homes announced that its Board of Directors has initiated a share buyback program on Wednesday, November 12th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the construction company to repurchase up to 7.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On M/I Homes

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

Analyst Ratings Changes

MHO has been the topic of a number of recent analyst reports. Raymond James Financial increased their target price on 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. Zacks Research lowered shares of M/I Homes from a “hold” rating to a “strong sell” rating 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 target price on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of M/I Homes in a research report on Thursday, January 22nd. Finally, Oppenheimer set a $165.00 price target on M/I Homes in a report on Friday, January 30th. One 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 issued a Sell rating to the stock. According to data from MarketBeat, M/I Homes presently has an average rating of “Moderate Buy” and an average 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.