AlphaQuest LLC Grows Stock Position in M/I Homes, Inc. $MHO

Key Points

• AlphaQuest LLC increased its stake in M/I Homes by 54.0% in the first quarter, owning 14,417 shares valued at approximately $1.646 million.
• Analysts have mixed ratings on M/I Homes, with two analysts rating it as a Strong Buy while others have downgraded it recently.
• M/I Homes reported $4.42 earnings per share for its last quarter, missing estimates slightly, but with revenues showing a 4.8% increase year-over-year.

AlphaQuest LLC increased its position in M/I Homes, Inc. (NYSE:MHO - Free Report) by 54.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 14,417 shares of the construction company's stock after acquiring an additional 5,055 shares during the quarter. AlphaQuest LLC owned about 0.05% of M/I Homes worth $1,646,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Xponance Inc. lifted its stake in shares of M/I Homes by 5.0% during the 1st quarter. Xponance Inc. now owns 2,019 shares of the construction company's stock valued at $231,000 after buying an additional 97 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of M/I Homes by 38.3% during the first quarter. Fifth Third Bancorp now owns 379 shares of the construction company's stock worth $43,000 after acquiring an additional 105 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of M/I Homes by 1.8% in the first quarter. SummerHaven Investment Management LLC now owns 6,443 shares of the construction company's stock worth $736,000 after acquiring an additional 114 shares during the period. Journey Strategic Wealth LLC grew its position in shares of M/I Homes by 4.8% in the first quarter. Journey Strategic Wealth LLC now owns 2,705 shares of the construction company's stock valued at $309,000 after purchasing an additional 125 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of M/I Homes by 7.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 2,124 shares of the construction company's stock valued at $282,000 after purchasing an additional 155 shares during the period. Institutional investors own 95.14% of the company's stock.

M/I Homes Price Performance

Shares of MHO traded up $0.72 during midday trading on Wednesday, reaching $146.06. The stock had a trading volume of 203,607 shares, compared to its average volume of 284,141. The company has a current ratio of 7.21, a quick ratio of 1.78 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 8.02 and a beta of 1.60. The company's 50-day moving average is $123.50 and its 200 day moving average is $115.91. M/I Homes, Inc. has a 12-month low of $100.22 and a 12-month high of $176.18.

M/I Homes (NYSE:MHO - Get Free Report) last released its earnings results on Wednesday, July 23rd. The construction company reported $4.42 earnings per share for the quarter, missing analysts' consensus estimates of $4.43 by ($0.01). M/I Homes had a return on equity of 17.23% and a net margin of 11.40%.The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.12 billion. The business's revenue for the quarter was up 4.8% on a year-over-year basis. On average, equities analysts predict that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MHO shares. Zacks Research upgraded M/I Homes to a "strong sell" rating in a research note on Tuesday, August 12th. Zelman & Associates upgraded shares of M/I Homes from a "neutral" rating to an "outperform" rating in a research report on Tuesday, August 12th. Finally, Raymond James Financial reduced their price objective on shares of M/I Homes from $168.00 to $140.00 and set a "strong-buy" rating for the company in a research note on Tuesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $162.50.

About M/I Homes

M/I Homes, Inc, together with its subsidiaries, engages in the construction and sale of single-family residential homes in Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee. The company operates through Northern Homebuilding, Southern Homebuilding, and Financial Services segments.