Assenagon Asset Management S.A. Purchases 12,506 Shares of M/I Homes, Inc. $MHO

Key Points

• Assenagon Asset Management S.A. increased its stake in M/I Homes by 6.4%, owning approximately 209,427 shares worth $23.48 million at the end of the second quarter.
• Despite reporting a net margin of 11.40% and a revenue increase of 4.8% year-over-year, M/I Homes missed earnings expectations by $0.01 in its most recent earnings report.
• The stock has seen significant institutional interest, with 95.14% of the company's stock being owned by institutional investors, highlighting a strong market confidence in the company's prospects.

Assenagon Asset Management S.A. grew its stake in M/I Homes, Inc. (NYSE:MHO - Free Report) by 6.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 209,427 shares of the construction company's stock after buying an additional 12,506 shares during the period. Assenagon Asset Management S.A. owned approximately 0.78% of M/I Homes worth $23,481,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp increased its stake in shares of M/I Homes by 38.3% in the first quarter. Fifth Third Bancorp now owns 379 shares of the construction company's stock worth $43,000 after purchasing an additional 105 shares during the period. Covestor Ltd increased its stake in shares of M/I Homes by 134.8% in the first quarter. Covestor Ltd now owns 655 shares of the construction company's stock worth $75,000 after purchasing an additional 376 shares during the period. GAMMA Investing LLC increased its stake in shares of M/I Homes by 57.6% in the first quarter. GAMMA Investing LLC now owns 919 shares of the construction company's stock worth $105,000 after purchasing an additional 336 shares during the period. Strs Ohio bought a new position in shares of M/I Homes in the first quarter worth about $114,000. Finally, National Bank of Canada FI increased its stake in shares of M/I Homes by 36.1% in the first quarter. National Bank of Canada FI now owns 1,164 shares of the construction company's stock worth $133,000 after purchasing an additional 309 shares during the period. 95.14% of the stock is currently owned by institutional investors.

M/I Homes Trading Down 1.9%

NYSE:MHO traded down $2.76 during trading hours on Monday, hitting $144.89. 383,823 shares of the stock were exchanged, compared to its average volume of 283,455. The company's 50 day moving average is $137.69 and its two-hundred day moving average is $120.24. The company has a quick ratio of 1.78, a current ratio of 7.21 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $3.88 billion, a P/E ratio of 7.96 and a beta of 1.66. M/I Homes, Inc. has a twelve month low of $100.22 and a twelve month high of $176.18.

M/I Homes (NYSE:MHO - Get Free Report) last posted its quarterly 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). The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.12 billion. M/I Homes had a net margin of 11.40% and a return on equity of 17.23%. M/I Homes's quarterly revenue was up 4.8% on a year-over-year basis. On average, sell-side analysts anticipate that M/I Homes, Inc. will post 18.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MHO. Zacks Research upgraded M/I Homes to a "strong sell" rating in a research note on Tuesday, August 12th. Zelman & Associates upgraded M/I Homes from a "neutral" rating to an "outperform" rating in a research note on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, M/I Homes has an average rating of "Buy" and a consensus price target of $162.50.

M/I Homes Company Profile

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.