55,000 Shares in M/I Homes, Inc. $MHO Purchased by Capelight Capital Asset Management LP

Key Points

• Capelight Capital acquired 55,000 shares of M/I Homes (NYSE:MHO) in Q4 — about $7.04 million — making the position roughly 5.8% of Capelight's portfolio and its fourth-largest holding; Capelight now owns 0.21% of MHO.
• Insiders have been net sellers, including CFO Phillip Creek's sale of 8,616 shares, with a total of 49,213 shares (~$7.12 million) sold over the past 90 days, leaving insiders with 3.7% ownership.
• Wall Street's consensus is a Moderate Buy with a $161.67 price target; M/I Homes trades at a P/E of 8.42 and a market cap of about $3.17 billion, after a slight EPS beat but a 4.9% year-over-year revenue decline.

Capelight Capital Asset Management LP acquired a new position in M/I Homes, Inc. (NYSE:MHO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 55,000 shares of the construction company's stock, valued at approximately $7,037,000. M/I Homes accounts for approximately 5.8% of Capelight Capital Asset Management LP's investment portfolio, making the stock its 4th biggest position. Capelight Capital Asset Management LP owned 0.21% of M/I Homes as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its position in shares of 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 period. WealthCollab LLC increased its position in shares of M/I Homes by 16.5% during the second quarter. WealthCollab LLC now owns 614 shares of the construction company's stock worth $69,000 after acquiring an additional 87 shares during the period. Private Advisor Group LLC increased its position in shares of M/I Homes by 3.0% during the third quarter. Private Advisor Group LLC now owns 3,027 shares of the construction company's stock worth $437,000 after acquiring an additional 89 shares during the period. SkyOak Wealth LLC increased its position in shares of M/I Homes by 3.8% during the third quarter. SkyOak Wealth LLC now owns 2,445 shares of the construction company's stock worth $353,000 after acquiring an additional 90 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of M/I Homes by 4.9% during the third quarter. Nisa Investment Advisors LLC now owns 1,983 shares of the construction company's stock worth $286,000 after acquiring an additional 93 shares during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MHO. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of M/I Homes in a research report on Thursday, January 22nd. Citizens Jmp began coverage on shares of M/I Homes in a research report on Wednesday, January 7th. They set a "market outperform" rating and a $165.00 target price on the stock. Oppenheimer set a $165.00 target price on shares of M/I Homes in a research report on Friday, January 30th. Citigroup reaffirmed a "market outperform" rating on shares of M/I Homes in a research report on Friday, January 30th. Finally, Zacks Research raised shares of M/I Homes from a "strong sell" rating to a "hold" rating in a research report on Friday, April 3rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $161.67.

Insider Activity at M/I Homes

In other M/I Homes news, CFO Phillip G. Creek sold 8,616 shares of the firm's 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 sale, the chief financial officer directly owned 45,815 shares in the company, valued at $6,725,642. This trade represents 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 at the SEC website. Also, insider Susan E. Krohne sold 5,000 shares of the firm's 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 completion of the sale, the insider owned 6,167 shares of the company's stock, valued at approximately $828,104.76. This trade represents a 44.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 49,213 shares of company stock valued at $7,115,268 over the last ninety days. 3.70% of the stock is owned by company insiders.

M/I Homes Stock Performance

Shares of MHO stock opened at $123.89 on Wednesday. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of 8.42 and a beta of 1.77. The company's 50 day moving average is $132.83 and its 200 day moving average is $132.90. The company has a quick ratio of 1.86, a current ratio of 8.12 and a debt-to-equity ratio of 0.31. M/I Homes, Inc. has a 52-week low of $102.44 and a 52-week high of $158.92.

M/I Homes (NYSE:MHO - Get Free Report) last issued its quarterly earnings data on Wednesday, January 28th. The construction company reported $3.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.03. The company had revenue of $1.15 billion for 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%. M/I Homes's revenue was down 4.9% compared to the same quarter last year. During the same period last year, the company posted $4.71 earnings per share. On average, sell-side analysts anticipate that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

About M/I Homes

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.

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