Citigroup Inc. Acquires 21,379 Shares of M/I Homes, Inc. (NYSE:MHO)

Key Points

• Citigroup Inc. increased its stake in M/I Homes, Inc. by 34.7%, acquiring an additional 21,379 shares during the first quarter, bringing its total ownership to 83,046 shares valued at approximately $9.48 million.
• Multiple institutional investors have recently bought shares, with institutional ownership accounting for 95.14% of the company’s stock.
• Analysts' ratings for M/I Homes are mixed, with a consensus rating of "Moderate Buy" and an average price target of $162.50, reflecting a range of outlooks from "sell" to "strong buy."

Citigroup Inc. grew its holdings in M/I Homes, Inc. (NYSE:MHO - Free Report) by 34.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,046 shares of the construction company's stock after acquiring an additional 21,379 shares during the quarter. Citigroup Inc. owned 0.31% of M/I Homes worth $9,482,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of MHO. Xponance Inc. raised its position in M/I Homes by 5.0% during the 1st quarter. Xponance Inc. now owns 2,019 shares of the construction company's stock worth $231,000 after purchasing an additional 97 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of M/I Homes by 3.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,787 shares of the construction company's stock worth $371,000 after purchasing an additional 98 shares during the period. Fifth Third Bancorp increased its stake in M/I Homes by 38.3% in the first quarter. Fifth Third Bancorp now owns 379 shares of the construction company's stock valued at $43,000 after acquiring an additional 105 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in M/I Homes by 1.8% during the first quarter. SummerHaven Investment Management LLC now owns 6,443 shares of the construction company's stock valued at $736,000 after buying an additional 114 shares during the period. Finally, Journey Strategic Wealth LLC boosted its holdings in shares of M/I Homes by 4.8% during the first quarter. Journey Strategic Wealth LLC now owns 2,705 shares of the construction company's stock worth $309,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 95.14% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Zacks Research upgraded shares of M/I Homes to a "strong sell" rating in a report on Tuesday. Zelman & Associates raised shares of M/I Homes from a "neutral" rating to an "outperform" rating in a report on Tuesday. Raymond James Financial decreased their price target on shares of M/I Homes from $168.00 to $140.00 and set a "strong-buy" rating on the stock in a research note on Tuesday, April 29th. Finally, Wall Street Zen downgraded shares of M/I Homes from a "buy" rating to a "hold" rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $162.50.

M/I Homes Price Performance

MHO opened at $142.58 on Friday. The company has a market cap of $3.82 billion, a P/E ratio of 7.83 and a beta of 1.60. The company has a 50 day moving average of $118.66 and a two-hundred day moving average of $115.00. 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, Inc. has a 52-week low of $100.22 and a 52-week 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 EPS for the quarter, missing analysts' consensus estimates of $4.43 by ($0.01). The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.12 billion. M/I Homes had a return on equity of 17.23% and a net margin of 11.40%. The company's revenue for the quarter was up 4.8% compared to the same quarter last year. On average, analysts expect that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.