M/I Homes (NYSE:MHO) CFO Sells 10,000 Shares of Stock

M/I Homes, Inc. (NYSE:MHO) CFO Phillip Creek sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $151.28, for a total value of $1,512,800.00. Following the sale, the chief financial officer directly owned 30,918 shares of the company’s stock, valued at approximately $4,677,275.04. This represents a 24.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

M/I Homes Stock Performance

Shares of M/I Homes stock traded down $3.91 during trading hours on Thursday, hitting $146.63. 154,326 shares of the company were exchanged, compared to its average volume of 247,538. The company has a current ratio of 7.65, a quick ratio of 1.59 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average of $147.50 and a 200-day moving average of $137.37. M/I Homes, Inc. has a 1 year low of $116.78 and a 1 year high of $163.66. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 12.34 and a beta of 1.60.

M/I Homes (NYSE:MHO) last issued its earnings results on Wednesday, July 29th. The construction company reported $3.14 earnings per share for the quarter, beating the consensus estimate of $3.13 by $0.01. M/I Homes had a net margin of 7.44% and a return on equity of 11.53%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the firm earned $4.42 earnings per share. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. As a group, analysts expect that M/I Homes, Inc. will post 12.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Zacks Research raised shares of M/I Homes from a “strong sell” rating to a “hold” rating in a research note on Friday, June 26th. Zelman & Associates lowered shares of M/I Homes from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of M/I Homes in a report on Friday, May 15th. Freedom Capital upgraded M/I Homes to a “strong-buy” rating in a research note on Wednesday, June 24th. Finally, New Street Research set a $172.00 target price on M/I Homes in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $164.25.

Institutional Investors Weigh In On M/I Homes

Several institutional investors and hedge funds have recently modified their holdings of MHO. Donald Smith & CO. Inc. grew its position in shares of M/I Homes by 5.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,463,340 shares of the construction company’s stock worth $187,234,000 after buying an additional 82,090 shares in the last quarter. State Street Corp raised its holdings in M/I Homes by 2.2% in the fourth quarter. State Street Corp now owns 1,337,188 shares of the construction company’s stock valued at $171,093,000 after acquiring an additional 28,187 shares in the last quarter. Millennium Management LLC boosted its stake in M/I Homes by 107.5% during the 4th quarter. Millennium Management LLC now owns 434,484 shares of the construction company’s stock valued at $55,592,000 after acquiring an additional 225,120 shares during the last quarter. Royce & Associates LP grew its holdings in M/I Homes by 5.3% during the 4th quarter. Royce & Associates LP now owns 326,606 shares of the construction company’s stock worth $41,789,000 after acquiring an additional 16,445 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in M/I Homes by 116.4% during the 3rd quarter. Invesco Ltd. now owns 300,912 shares of the construction company’s stock worth $43,464,000 after acquiring an additional 161,881 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

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.