M/I Homes, Inc. $MHO Shares Sold by Citigroup Inc.

Citigroup Inc. cut its position in shares of M/I Homes, Inc. (NYSE:MHO) by 24.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,986 shares of the construction company’s stock after selling 11,159 shares during the period. Citigroup Inc. owned approximately 0.13% of M/I Homes worth $4,909,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in MHO. Salomon & Ludwin LLC purchased a new stake in shares of M/I Homes during the 3rd quarter valued at approximately $28,000. Jones Financial Companies Lllp increased its stake in M/I Homes by 73.1% during the third quarter. Jones Financial Companies Lllp now owns 206 shares of the construction company’s stock worth $30,000 after acquiring an additional 87 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in 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 purchasing an additional 135 shares during the period. Private Trust Co. NA acquired a new position in shares of M/I Homes in the 3rd quarter valued at $38,000. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of M/I Homes by 58.6% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the construction company’s stock valued at $52,000 after purchasing an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Transactions at M/I Homes

In related news, CFO Phillip G. Creek sold 8,616 shares of M/I Homes stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $146.80, for a total value of $1,264,828.80. Following the completion of the transaction, the chief financial officer owned 45,815 shares in the company, valued at $6,725,642. The trade was a 15.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert H. Schottenstein sold 20,000 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $144.47, for a total transaction of $2,889,400.00. Following the completion of the sale, the chief executive officer directly owned 313,874 shares in the company, valued at approximately $45,345,376.78. This represents a 5.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 49,213 shares of company stock valued at $7,115,268. 3.70% of the stock is currently owned by corporate insiders.

M/I Homes Stock Up 0.9%

M/I Homes stock opened at $142.70 on Wednesday. The firm has a market capitalization of $3.68 billion, a P/E ratio of 9.70 and a beta of 1.77. The company has a current ratio of 8.12, a quick ratio of 1.86 and a debt-to-equity ratio of 0.31. M/I Homes, Inc. has a twelve month low of $100.22 and a twelve month high of $158.92. The stock’s fifty day simple moving average is $137.03 and its 200-day simple moving average is $137.63.

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 the consensus estimate 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 analysts’ expectations of $1.16 billion. During the same period in the previous year, the firm posted $4.71 EPS. M/I Homes’s revenue for the quarter was down 4.9% on a year-over-year basis. As a group, equities analysts expect that M/I Homes, Inc. will post 18.44 earnings per share for the current fiscal year.

M/I Homes declared 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 buy up to 7.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

MHO has been the topic of several research analyst reports. Oppenheimer set a $165.00 price objective on shares of M/I Homes in a report on Friday, January 30th. Citigroup reissued a “market outperform” rating on shares of M/I Homes in a research note on Friday, January 30th. Zacks Research cut shares of M/I Homes from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of M/I Homes in a research report on Thursday, January 22nd. Finally, Citizens Jmp assumed coverage on M/I Homes in a research note on Wednesday, January 7th. They set a “market outperform” rating and a $165.00 price target on the stock. 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.