Advantage Alpha Capital Partners LP Invests $3.07 Million in M/I Homes, Inc. $MHO

Advantage Alpha Capital Partners LP bought a new stake in shares of M/I Homes, Inc. (NYSE:MHO) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 27,344 shares of the construction company’s stock, valued at approximately $3,066,000. Advantage Alpha Capital Partners LP owned approximately 0.10% of M/I Homes as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MHO. Nordea Investment Management AB increased its position in M/I Homes by 0.3% during the 2nd quarter. Nordea Investment Management AB now owns 86,704 shares of the construction company’s stock valued at $9,712,000 after purchasing an additional 235 shares during the period. Intech Investment Management LLC boosted its stake in shares of M/I Homes by 9.3% during the 1st quarter. Intech Investment Management LLC now owns 21,970 shares of the construction company’s stock valued at $2,509,000 after purchasing an additional 1,861 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of M/I Homes by 29.7% during the second quarter. Harbor Capital Advisors Inc. now owns 7,652 shares of the construction company’s stock valued at $858,000 after buying an additional 1,750 shares during the period. Gradient Investments LLC purchased a new position in shares of M/I Homes during the second quarter valued at about $1,855,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in M/I Homes by 27.2% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,265 shares of the construction company’s stock worth $259,000 after buying an additional 484 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

M/I Homes Stock Up 1.9%

MHO stock opened at $139.72 on Friday. The business has a 50 day moving average of $134.36 and a 200 day moving average of $127.78. The firm has a market cap of $3.65 billion, a PE ratio of 8.20 and a beta of 1.66. M/I Homes, Inc. has a twelve month low of $100.22 and a twelve month high of $169.51. The company has a quick ratio of 1.52, a current ratio of 7.17 and a debt-to-equity ratio of 0.29.

M/I Homes (NYSE:MHO) last released its earnings results on Wednesday, October 22nd. The construction company reported $3.92 EPS for the quarter, missing analysts’ consensus estimates of $4.37 by ($0.45). The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.16 billion. M/I Homes had a return on equity of 15.72% and a net margin of 10.56%.M/I Homes’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, research 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 authorized a share repurchase plan on Wednesday, November 12th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the construction company to purchase up to 7.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have weighed in on MHO. Raymond James Financial lifted their price objective on M/I Homes from $150.00 to $155.00 and gave the company a “strong-buy” rating in a research report on Friday, October 24th. Zacks Research upgraded M/I Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, September 26th. Zelman & Associates upgraded M/I Homes from a “neutral” rating to an “outperform” rating in a report on Tuesday, August 12th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of M/I Homes in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, M/I Homes presently has an average rating of “Buy” and a consensus target price of $155.00.

M/I Homes Profile

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.