Algert Global LLC Reduces Stock Position in M/I Homes, Inc. $MHO

Algert Global LLC trimmed its position in M/I Homes, Inc. (NYSE:MHO) by 4.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 146,104 shares of the construction company’s stock after selling 7,595 shares during the period. Algert Global LLC owned about 0.56% of M/I Homes worth $21,103,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Salomon & Ludwin LLC acquired a new position in shares of M/I Homes in the third quarter valued at approximately $28,000. Jones Financial Companies Lllp boosted its position 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 grew its stake in M/I Homes by 90.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock worth $32,000 after acquiring an additional 135 shares during the period. Private Trust Co. NA purchased a new stake in M/I Homes in the 3rd quarter worth approximately $38,000. Finally, Nomura Asset Management Co. Ltd. raised its holdings in 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 acquiring an additional 170 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

M/I Homes Stock Performance

Shares of NYSE:MHO opened at $128.52 on Friday. The business has a 50-day moving average of $137.92 and a two-hundred day moving average of $137.16. The firm has a market capitalization of $3.31 billion, a PE ratio of 8.74 and a beta of 1.77. The company has a debt-to-equity ratio of 0.31, a current ratio of 8.12 and a quick ratio of 1.86. M/I Homes, Inc. has a 12 month low of $100.22 and a 12 month high of $158.92.

M/I Homes (NYSE:MHO) last released 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. M/I Homes had a return on equity of 14.50% and a net margin of 9.12%.The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the business posted $4.71 EPS. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. As a group, research analysts forecast that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

Insider Activity at M/I Homes

In related news, CEO Robert H. Schottenstein sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $144.47, for a total value of $2,889,400.00. Following the transaction, the chief executive officer owned 313,874 shares in the company, valued at approximately $45,345,376.78. This trade represents a 5.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Susan E. Krohne sold 5,000 shares of M/I Homes stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $134.28, for a total transaction of $671,400.00. Following the transaction, the insider directly owned 6,167 shares in the company, valued at approximately $828,104.76. This trade represents a 44.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 49,213 shares of company stock worth $7,115,268. Company insiders own 3.50% of the company’s stock.

Wall Street Analyst Weigh In

MHO has been the topic of a number of recent analyst reports. Oppenheimer set a $165.00 price target on M/I Homes in a research note on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of M/I Homes in a research report on Thursday, January 22nd. Zacks Research downgraded M/I Homes from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Citizens Jmp initiated coverage on M/I Homes in a research note on Wednesday, January 7th. They issued a “market outperform” rating and a $165.00 price target on the stock. Finally, Citigroup restated a “market outperform” rating on shares of M/I Homes in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.