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

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Northern Trust Corp increased its position in shares of M/I Homes by 8.4% during the fourth quarter. Northern Trust Corp now owns 347,000 shares of the construction company's stock worth $46,134,000 after buying an additional 26,820 shares during the period. BOKF NA increased its position in shares of M/I Homes by 5.5% during the fourth quarter. BOKF NA now owns 3,396 shares of the construction company's stock worth $422,000 after buying an additional 176 shares during the period. Deutsche Bank AG increased its position in shares of M/I Homes by 19.7% during the fourth quarter. Deutsche Bank AG now owns 47,617 shares of the construction company's stock worth $6,331,000 after buying an additional 7,832 shares during the period. Graham Capital Management L.P. acquired a new stake in shares of M/I Homes during the fourth quarter worth $548,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of M/I Homes by 4.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,165 shares of the construction company's stock worth $2,016,000 after buying an additional 608 shares during the period. Institutional investors and hedge funds own 95.14% of the company's stock.

M/I Homes Price Performance

Shares of NYSE MHO traded down $2.25 during mid-day trading on Wednesday, reaching $150.71. 46,100 shares of the company were exchanged, compared to its average volume of 281,290. The company's 50 day moving average price is $131.54 and its 200 day moving average price is $118.16. The stock has a market capitalization of $4.04 billion, a PE ratio of 8.29 and a beta of 1.66. M/I Homes, Inc. has a 52 week low of $100.22 and a 52 week high of $176.18. The company has a quick ratio of 1.78, a current ratio of 7.21 and a debt-to-equity ratio of 0.32.

M/I Homes (NYSE:MHO - Get Free Report) last announced 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 net margin of 11.40% and a return on equity of 17.23%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.12 billion. The company's quarterly revenue was up 4.8% compared to the same quarter last year. Sell-side analysts forecast that M/I Homes, Inc. will post 18.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on MHO shares. Zacks Research raised shares of 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 report on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average 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.