M/I Homes (NYSE:MHO) Insider Susan Krohne Sells 5,000 Shares of Stock

M/I Homes, Inc. (NYSE:MHO) insider Susan Krohne sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $134.28, for a total transaction of $671,400.00. Following the sale, the insider owned 6,167 shares in the company, valued at $828,104.76. This trade represents a 44.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

M/I Homes Stock Performance

Shares of MHO opened at $133.66 on Tuesday. The firm has a market cap of $3.50 billion, a P/E ratio of 9.09 and a beta of 1.77. M/I Homes, Inc. has a twelve month low of $100.22 and a twelve month high of $158.92. 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 firm’s 50 day moving average price is $133.31 and its two-hundred day moving average price is $135.31.

M/I Homes (NYSE:MHO) last issued its quarterly earnings data on Wednesday, January 28th. The construction company reported $3.91 EPS for the quarter, topping analysts’ consensus estimates of $3.88 by $0.03. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. M/I Homes had a net margin of 9.12% and a return on equity of 14.50%. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period last year, the business posted $4.71 earnings per share. On average, analysts forecast that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

M/I Homes declared that its board has initiated a share buyback program on Wednesday, November 12th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the construction company to reacquire up to 7.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On M/I Homes

Several hedge funds and other institutional investors have recently made changes to their positions in MHO. Royal Bank of Canada raised its position in M/I Homes by 46.3% during the first quarter. Royal Bank of Canada now owns 29,774 shares of the construction company’s stock worth $3,400,000 after acquiring an additional 9,422 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of M/I Homes by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,868 shares of the construction company’s stock valued at $1,812,000 after purchasing an additional 703 shares during the period. United Services Automobile Association bought a new stake in shares of M/I Homes in the 1st quarter valued at about $205,000. Strs Ohio acquired a new stake in M/I Homes in the 1st quarter valued at about $114,000. Finally, Janney Montgomery Scott LLC grew its holdings in M/I Homes by 7.9% during the second quarter. Janney Montgomery Scott LLC now owns 3,559 shares of the construction company’s stock worth $399,000 after purchasing an additional 260 shares during the period. 95.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MHO shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of M/I Homes in a research report on Thursday, January 22nd. Citigroup reaffirmed a “market outperform” rating on shares of M/I Homes in a research report on Friday. Raymond James Financial raised their price target on shares of 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. Citizens Jmp assumed coverage on shares of M/I Homes in a report on Wednesday, January 7th. They set a “market outperform” rating and a $165.00 target price for the company. Finally, Oppenheimer set a $165.00 price target on shares of M/I Homes in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $161.67.

M/I Homes Company Profile

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.