Assenagon Asset Management S.A. Lowers Position in M/I Homes, Inc. $MHO

Assenagon Asset Management S.A. trimmed its position in M/I Homes, Inc. (NYSE:MHO) by 37.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,862 shares of the construction company’s stock after selling 65,782 shares during the period. Assenagon Asset Management S.A. owned 0.41% of M/I Homes worth $13,801,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in shares of M/I Homes by 46.3% during the 1st quarter. Royal Bank of Canada now owns 29,774 shares of the construction company’s stock valued at $3,400,000 after buying an additional 9,422 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 worth $1,812,000 after acquiring an additional 703 shares in the last quarter. United Services Automobile Association purchased a new position in M/I Homes during the 1st quarter valued at about $205,000. Strs Ohio purchased a new stake in M/I Homes in the first quarter worth about $114,000. Finally, PNC Financial Services Group Inc. grew its holdings in M/I Homes by 10.7% in the second quarter. PNC Financial Services Group Inc. now owns 1,515 shares of the construction company’s stock worth $170,000 after purchasing an additional 146 shares during the period. Institutional investors own 95.14% of the company’s stock.

M/I Homes Trading Down 1.1%

Shares of MHO stock opened at $121.77 on Friday. M/I Homes, Inc. has a 12-month low of $100.22 and a 12-month high of $158.92. The company has a current ratio of 8.12, a quick ratio of 1.86 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average is $136.08 and its 200 day moving average is $135.67. The stock has a market capitalization of $3.14 billion, a P/E ratio of 8.28 and a beta of 1.77.

M/I Homes (NYSE:MHO) last announced its earnings results on Wednesday, January 28th. The construction company reported $3.91 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.03. The business had revenue of $1.15 billion during 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 company’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $4.71 EPS. Research analysts expect that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MHO shares. Citigroup reissued a “market outperform” rating on shares of M/I Homes in a research report on Friday, January 30th. Citizens Jmp began coverage on M/I Homes in a research note on Wednesday, January 7th. They set a “market outperform” rating and a $165.00 price objective for the company. Zacks Research downgraded M/I Homes from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of M/I Homes in a research note on Thursday, January 22nd. Finally, Oppenheimer set a $165.00 price objective 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 given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, M/I Homes presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.67.

Insider Buying and Selling

In other M/I Homes news, CEO Robert H. Schottenstein sold 14,974 shares of the firm’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $146.80, for a total value of $2,198,183.20. Following the transaction, the chief executive officer directly owned 348,513 shares of the company’s stock, valued at approximately $51,161,708.40. This trade represents a 4.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Phillip G. Creek sold 8,616 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer owned 45,815 shares of the company’s stock, valued at approximately $6,725,642. This represents a 15.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 49,213 shares of company stock valued at $7,115,268 over the last 90 days. Company insiders own 3.50% of the company’s stock.

M/I Homes 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.