196,284 Shares in M/I Homes, Inc. $MHO Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 196,284 shares of M/I Homes during the second quarter, valued at approximately $31.6 million and representing 0.78% of the company. Institutional investors collectively own 95.14% of M/I Homes.
• M/I Homes beat quarterly earnings expectations with $3.14 in EPS and $1.06 billion in revenue, though revenue declined 6% year over year and EPS fell from $4.42 in the prior-year period.
• The stock opened at $142.72, while analysts’ consensus rating was “Moderate Buy” with an average price target of $164.25. CFO Phillip Creek separately sold 10,000 shares at an average price of $151.28.

Bank of America Corp DE acquired a new stake in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 196,284 shares of the construction company's stock, valued at approximately $31,561,000. Bank of America Corp DE owned 0.78% of M/I Homes at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. NewEdge Wealth LLC purchased a new position in M/I Homes during the 2nd quarter valued at about $1,976,000. Militia Capital Management LLC purchased a new stake in M/I Homes in the first quarter worth about $2,816,000. California State Teachers Retirement System increased its stake in shares of M/I Homes by 28.3% during the first quarter. California State Teachers Retirement System now owns 32,103 shares of the construction company's stock valued at $3,931,000 after purchasing an additional 7,086 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of M/I Homes by 5,254.6% during the first quarter. Fifth Third Bancorp now owns 10,495 shares of the construction company's stock valued at $1,285,000 after purchasing an additional 10,299 shares in the last quarter. Finally, Jupiter Topco LLC purchased a new position in shares of M/I Homes during the second quarter valued at approximately $20,711,000. Institutional investors own 95.14% of the company's stock.

M/I Homes Price Performance

Shares of NYSE MHO opened at $142.72 on Wednesday. The firm has a market cap of $3.61 billion, a P/E ratio of 12.01 and a beta of 1.61. M/I Homes, Inc. has a twelve month low of $116.78 and a twelve month high of $163.66. The company has a quick ratio of 1.69, a current ratio of 7.65 and a debt-to-equity ratio of 0.29. The company has a 50 day moving average of $148.04 and a 200 day moving average of $139.13.

M/I Homes (NYSE:MHO - Get Free Report) last issued its earnings results on Wednesday, July 29th. The construction company reported $3.14 EPS for the quarter, beating the consensus estimate of $3.13 by $0.01. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. M/I Homes had a return on equity of 11.53% and a net margin of 7.44%.The company's revenue was down 6.0% compared to the same quarter last year. During the same period last year, the business posted $4.42 EPS. As a group, research analysts expect that M/I Homes, Inc. will post 12.12 EPS for the current fiscal year.

Insider Buying and Selling

In other M/I Homes news, CFO Phillip Creek sold 10,000 shares of the business's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $151.28, for a total value of $1,512,800.00. Following the completion of the transaction, the chief financial officer owned 30,918 shares of the company's stock, valued at approximately $4,677,275.04. The trade was a 24.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. New Street Research set a $172.00 price objective on M/I Homes in a research report on Tuesday, August 4th. Zelman & Associates downgraded M/I Homes from an "outperform" rating to a "neutral" rating in a report on Tuesday, July 7th. Zacks Research cut M/I Homes from a "hold" rating to a "strong sell" rating in a research note on Wednesday, September 9th. Weiss Ratings restated a "hold (c)" rating on shares of M/I Homes in a report on Wednesday, August 12th. Finally, Freedom Capital raised M/I Homes to a "strong-buy" rating in a research report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $164.25.

About M/I Homes

M/I Homes, Inc is a residential construction company that builds and sells new single-family homes. Its operations include land acquisition and development, home design and construction, sales and marketing, and customer service. The company offers homes in a range of designs and price points, with options and features that can be customized by buyers in many communities.

M/I Homes also provides complementary services through affiliated operations, including mortgage financing and title services.

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