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

Key Points

• Algert Global increased its M/I Homes position by 13% in the second quarter, bringing its holdings to 73,509 shares valued at approximately $11.82 million. Institutional investors collectively own 95.14% of the company.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $164.25, although some firms recently upgraded or downgraded their ratings.
• M/I Homes slightly exceeded quarterly earnings and revenue expectations, reporting $3.14 in EPS and $1.06 billion in revenue, despite revenue declining 6% year over year. Shares opened at $154.22, near their 52-week high of $163.66.

Algert Global LLC increased its stake in M/I Homes, Inc. (NYSE:MHO - Free Report) by 13.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 73,509 shares of the construction company's stock after buying an additional 8,440 shares during the quarter. Algert Global LLC owned about 0.29% of M/I Homes worth $11,820,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of MHO. BlackRock Inc. purchased a new stake in shares of M/I Homes during the second quarter valued at approximately $769,776,000. Donald Smith & CO. Inc. lifted its holdings in M/I Homes by 5.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,463,340 shares of the construction company's stock worth $187,234,000 after buying an additional 82,090 shares in the last quarter. State Street Corp lifted its holdings in M/I Homes by 2.2% in the 4th quarter. State Street Corp now owns 1,337,188 shares of the construction company's stock worth $171,093,000 after buying an additional 28,187 shares in the last quarter. Millennium Management LLC boosted its position in M/I Homes by 107.5% in the 4th quarter. Millennium Management LLC now owns 434,484 shares of the construction company's stock valued at $55,592,000 after buying an additional 225,120 shares during the last quarter. Finally, Royce & Associates LP boosted its position in M/I Homes by 5.3% in the 4th quarter. Royce & Associates LP now owns 326,606 shares of the construction company's stock valued at $41,789,000 after buying an additional 16,445 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on MHO shares. Zacks Research upgraded M/I Homes from a "strong sell" rating to a "hold" rating in a research note on Friday, June 26th. New Street Research set a $172.00 price target on M/I Homes in a report on Tuesday, August 4th. Freedom Capital upgraded M/I Homes to a "strong-buy" rating in a research note on Wednesday, June 24th. Weiss Ratings restated a "hold (c)" rating on shares of M/I Homes in a report on Wednesday, August 12th. Finally, Zelman & Associates lowered M/I Homes from an "outperform" rating to a "neutral" rating in a research report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $164.25.

M/I Homes Stock Performance

Shares of M/I Homes stock opened at $154.22 on Wednesday. The firm has a market cap of $3.90 billion, a PE ratio of 12.98 and a beta of 1.60. The firm's 50-day simple moving average is $151.17 and its 200-day simple moving average is $138.99. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.69 and a current ratio of 7.65. M/I Homes, Inc. has a 1 year low of $116.78 and a 1 year high of $163.66.

M/I Homes (NYSE:MHO - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The construction company reported $3.14 EPS for the quarter, topping analysts' consensus estimates of $3.13 by $0.01. The business had revenue of $1.06 billion during 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 for the quarter was down 6.0% compared to the same quarter last year. During the same period last year, the firm earned $4.42 earnings per share. Equities analysts forecast that M/I Homes, Inc. will post 12.62 earnings per share for the current fiscal year.

Insider Activity at M/I Homes

In other news, CFO Phillip G. Creek sold 20,000 shares of M/I Homes stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $149.56, for a total value of $2,991,200.00. Following the completion of the transaction, the chief financial officer owned 30,918 shares in the company, valued at approximately $4,624,096.08. This trade represents a 39.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.60% of the company's stock.

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.

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