Denali Advisors LLC Takes Position in M/I Homes, Inc. $MHO

Denali Advisors LLC acquired a new position in shares of M/I Homes, Inc. (NYSE:MHO) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 13,131 shares of the construction company’s stock, valued at approximately $1,897,000. Denali Advisors LLC owned about 0.05% of M/I Homes at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MHO. Royal Bank of Canada raised its stake in M/I Homes by 46.3% in the first 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of M/I Homes by 4.6% during 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 during the last quarter. United Services Automobile Association acquired a new position in shares of M/I Homes during the 1st quarter worth approximately $205,000. Strs Ohio bought a new stake in M/I Homes in the 1st quarter valued at $114,000. Finally, CWM LLC lifted its holdings in M/I Homes by 110.7% during the 2nd quarter. CWM LLC now owns 2,706 shares of the construction company’s stock valued at $303,000 after purchasing an additional 1,422 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

M/I Homes Trading Up 1.9%

Shares of MHO stock opened at $149.66 on Tuesday. The stock has a market cap of $3.91 billion, a P/E ratio of 10.17 and a beta of 1.77. M/I Homes, Inc. has a 1 year low of $100.22 and a 1 year high of $158.92. The company has a current ratio of 7.54, a quick ratio of 1.72 and a debt-to-equity ratio of 0.31. The stock has a 50 day simple moving average of $134.74 and a 200 day simple moving average of $136.92.

M/I Homes (NYSE:MHO) last posted 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 firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. M/I Homes had a return on equity of 14.50% and a net margin of 9.12%.The company’s revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the company earned $4.71 EPS. On average, research analysts predict 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 share repurchase program on Wednesday, November 12th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the construction company to buy up to 7.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Susan E. Krohne sold 491 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $146.80, for a total transaction of $72,078.80. Following the sale, the insider owned 8,771 shares in the company, valued at approximately $1,287,582.80. This trade represents a 5.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert H. Schottenstein sold 14,974 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 transaction 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 $51,161,708.40. This trade represents a 4.12% 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 quarter. 3.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on MHO. Raymond James Financial upped their price objective on shares of M/I Homes from $150.00 to $155.00 and gave the company a “strong-buy” rating in a report on Friday, October 24th. Citigroup reiterated a “market outperform” rating on shares of M/I Homes in a research note on Friday, January 30th. Citizens Jmp initiated coverage on shares of M/I Homes in a report on Wednesday, January 7th. They issued a “market outperform” rating and a $165.00 price target on the stock. Oppenheimer set a $165.00 price objective on M/I Homes in a report on Friday, January 30th. Finally, Zacks Research downgraded M/I Homes from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. One 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 assigned a Sell rating to the company. According to data from MarketBeat.com, M/I Homes currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.67.

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.