Bridgeway Capital Management LLC Sells 30,914 Shares of M/I Homes, Inc. $MHO

Key Points

• Bridgeway Capital Management LLC has reduced its stake in M/I Homes, Inc. (NYSE:MHO) by 42.7% in the first quarter, selling 30,914 shares and now owning 41,400 shares valued at approximately $4.73 million.
• Institutional investors hold approximately 95.14% of M/I Homes' stock, with several hedge funds increasing their positions significantly in recent quarters.
• M/I Homes reported $4.42 earnings per share for the most recent quarter, slightly missing the consensus estimate, but had a revenue increase of 4.8% year-over-year.

Bridgeway Capital Management LLC trimmed its stake in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 42.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,400 shares of the construction company's stock after selling 30,914 shares during the quarter. Bridgeway Capital Management LLC owned about 0.15% of M/I Homes worth $4,727,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MHO. Donald Smith & CO. Inc. boosted its position in M/I Homes by 10.2% during the first quarter. Donald Smith & CO. Inc. now owns 1,282,967 shares of the construction company's stock worth $146,489,000 after purchasing an additional 118,778 shares during the period. Millennium Management LLC boosted its position in shares of M/I Homes by 85.5% in the fourth quarter. Millennium Management LLC now owns 238,826 shares of the construction company's stock valued at $31,752,000 after acquiring an additional 110,086 shares during the period. GAMMA Investing LLC boosted its position in shares of M/I Homes by 17,898.5% in the first quarter. GAMMA Investing LLC now owns 104,931 shares of the construction company's stock valued at $11,981,000 after acquiring an additional 104,348 shares during the period. Nuveen LLC bought a new stake in shares of M/I Homes in the first quarter valued at about $11,829,000. Finally, Allianz Asset Management GmbH boosted its position in shares of M/I Homes by 77.5% in the first quarter. Allianz Asset Management GmbH now owns 229,065 shares of the construction company's stock valued at $26,155,000 after acquiring an additional 100,029 shares during the period. 95.14% of the stock is owned by institutional investors.

M/I Homes Trading Up 3.9%

MHO opened at $154.15 on Friday. M/I Homes, Inc. has a twelve month low of $100.22 and a twelve month high of $176.18. The company has a 50-day simple moving average of $129.03 and a 200 day simple moving average of $117.36. 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 stock has a market capitalization of $4.13 billion, a price-to-earnings ratio of 8.47 and a beta of 1.66.

M/I Homes (NYSE:MHO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The construction company reported $4.42 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.12 billion. The firm's revenue for the quarter was up 4.8% compared to the same quarter last year. Analysts predict that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MHO. Zacks Research raised shares of M/I Homes to a "strong sell" rating in a research report on Tuesday, August 12th. Zelman & Associates raised shares of M/I Homes from a "neutral" rating to an "outperform" rating in a research report on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, M/I Homes presently 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.

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