Bank of America Corp DE Sells 7,390 Shares of M/I Homes, Inc. $MHO

Bank of America Corp DE reduced its holdings in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 4.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 146,353 shares of the construction company's stock after selling 7,390 shares during the quarter. Bank of America Corp DE owned 0.57% of M/I Homes worth $17,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of MHO. Hilton Head Capital Partners LLC bought a new position in shares of M/I Homes in the 4th quarter worth approximately $28,000. EverSource Wealth Advisors LLC raised its stake in M/I Homes by 90.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company's stock worth $32,000 after acquiring an additional 135 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in shares of M/I Homes during the 4th quarter valued at $49,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of M/I Homes by 1,090.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 500 shares of the construction company's stock valued at $64,000 after buying an additional 458 shares in the last quarter. Finally, WealthCollab LLC boosted its holdings in M/I Homes by 16.5% in the 2nd quarter. WealthCollab LLC now owns 614 shares of the construction company's stock worth $69,000 after buying an additional 87 shares during the period. 95.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity

In other M/I Homes news, CFO Phillip G. Creek sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $149.56, for a total transaction of $2,991,200.00. Following the completion of the transaction, the chief financial officer owned 30,918 shares in the company, valued at $4,624,096.08. The trade was a 39.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.60% of the stock is owned by company insiders.

M/I Homes Price Performance

M/I Homes stock opened at $154.56 on Thursday. The company has a quick ratio of 1.69, a current ratio of 7.65 and a debt-to-equity ratio of 0.29. M/I Homes, Inc. has a 52-week low of $116.78 and a 52-week high of $163.66. The firm's fifty day moving average is $150.38 and its 200 day moving average is $138.52. The company has a market cap of $3.91 billion, a price-to-earnings ratio of 13.01 and a beta of 1.60.

M/I Homes (NYSE:MHO - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The construction company reported $3.14 EPS for the quarter, topping the consensus estimate of $3.13 by $0.01. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. M/I Homes had a return on equity of 11.53% and a net margin of 7.44%.The firm's revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the business posted $4.42 earnings per share. Sell-side analysts forecast that M/I Homes, Inc. will post 12.62 EPS for the current fiscal year.

M/I Homes 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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