Robert Schottenstein Sells 14,974 Shares of M/I Homes (NYSE:MHO) Stock

M/I Homes, Inc. (NYSE:MHO) CEO Robert Schottenstein sold 14,974 shares of the company’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $146.80, for a total value of $2,198,183.20. Following the completion of the transaction, the chief executive officer directly owned 348,513 shares in the company, valued at approximately $51,161,708.40. The trade was a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

M/I Homes Stock Performance

MHO traded up $2.84 on Friday, reaching $149.66. 383,565 shares of the stock were exchanged, compared to its average volume of 262,682. The company’s 50-day moving average price is $134.04 and its 200 day moving average price is $136.32. The company has a debt-to-equity ratio of 0.31, a current ratio of 7.54 and a quick ratio of 1.72. The firm has a market capitalization of $3.91 billion, a PE ratio of 10.17 and a beta of 1.77. M/I Homes, Inc. has a fifty-two week low of $100.22 and a fifty-two week high of $158.92.

M/I Homes (NYSE:MHO) last released its earnings results on Wednesday, January 28th. The construction company reported $3.91 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 firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the company posted $4.71 earnings per share. The company’s revenue was down 4.9% compared to the same quarter last year. As a group, sell-side analysts forecast that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

M/I Homes announced that its board has approved a stock repurchase plan on Wednesday, November 12th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On M/I Homes

Large investors have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC purchased a new position in M/I Homes during the third quarter valued at $28,000. Jones Financial Companies Lllp raised its position in shares of M/I Homes by 73.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 206 shares of the construction company’s stock worth $30,000 after purchasing an additional 87 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new position in M/I Homes in the 4th quarter valued at about $28,000. Private Trust Co. NA acquired a new stake in M/I Homes in the 3rd quarter worth about $38,000. Finally, EverSource Wealth Advisors LLC increased its stake in M/I Homes by 90.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock worth $32,000 after buying an additional 135 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Oppenheimer set a $165.00 price target on shares of M/I Homes in a report on Friday, January 30th. Raymond James Financial upped their price objective on M/I Homes from $150.00 to $155.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of M/I Homes in a research note on Thursday, January 22nd. Zacks Research lowered shares of M/I Homes from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Finally, Citigroup reiterated a “market outperform” rating on shares of M/I Homes in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock 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.