M/I Homes (NYSE:MHO) Shares Pass Above 200-Day Moving Average – Time to Sell?

Shares of M/I Homes, Inc. (NYSE:MHO) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $131.88 and traded as high as $141.31. M/I Homes shares last traded at $138.6160, with a volume of 273,164 shares.

Wall Street Analyst Weigh In

MHO has been the topic of a number of research reports. Zacks Research downgraded M/I Homes from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Seaport Research Partners reiterated a “neutral” rating on shares of M/I Homes in a research report on Tuesday, April 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of M/I Homes in a research report on Friday, May 15th. 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 assigned a Sell rating to the company. According to data from MarketBeat.com, M/I Homes currently has an average rating of “Moderate Buy” and a consensus price target of $161.67.

M/I Homes Stock Down 1.7%

The company has a market capitalization of $3.48 billion, a PE ratio of 10.25 and a beta of 1.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 8.40 and a quick ratio of 1.95. The company has a 50-day moving average of $127.42 and a two-hundred day moving average of $132.00.

M/I Homes (NYSE:MHO) last released its earnings results on Wednesday, April 22nd. The construction company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.64 by ($0.09). The company had revenue of $920.71 million for the quarter, compared to analysts’ expectations of $1.18 billion. M/I Homes had a net margin of 8.24% and a return on equity of 12.91%. M/I Homes’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.98 earnings per share. Sell-side analysts anticipate that M/I Homes, Inc. will post 12.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On M/I Homes

Large investors have recently made changes to their positions in the business. Hilton Head Capital Partners LLC purchased a new position in shares of M/I Homes in the fourth quarter valued at about $28,000. Jones Financial Companies Lllp lifted its position in shares of M/I Homes by 73.1% in the third 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 in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of M/I Homes by 90.6% in the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock valued at $32,000 after acquiring an additional 135 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of M/I Homes in the fourth quarter valued at about $49,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of M/I Homes by 1,090.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 500 shares of the construction company’s stock valued at $64,000 after acquiring an additional 458 shares in the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

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.