Citigroup Inc. Raises Stock Holdings in M/I Homes, Inc. $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. increased its stake in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 34.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 83,046 shares of the construction company's stock after purchasing 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 quarter.

Several other large investors have also recently modified their holdings of MHO. Xponance Inc. boosted its holdings in M/I Homes by 5.0% during the 1st quarter. Xponance Inc. now owns 2,019 shares of the construction company's stock valued at $231,000 after acquiring an additional 97 shares during the period. Summit Investment Advisors Inc. boosted its holdings in M/I Homes by 3.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,787 shares of the construction company's stock valued at $371,000 after acquiring an additional 98 shares during the period. Fifth Third Bancorp boosted its holdings in M/I Homes by 38.3% during the 1st 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 period. SummerHaven Investment Management LLC boosted its holdings in M/I Homes by 1.8% during the 1st quarter. SummerHaven Investment Management LLC now owns 6,443 shares of the construction company's stock valued at $736,000 after acquiring an additional 114 shares during the period. Finally, Journey Strategic Wealth LLC boosted its holdings in M/I Homes by 4.8% during the 1st quarter. Journey Strategic Wealth LLC now owns 2,705 shares of the construction company's stock valued at $309,000 after acquiring an additional 125 shares during the period. Institutional investors own 95.14% of the company's stock.

M/I Homes Stock Down 0.9%

Shares of MHO stock traded down $1.21 during mid-day trading on Thursday, hitting $138.72. The stock had a trading volume of 207,108 shares, compared to its average volume of 312,747. M/I Homes, Inc. has a 12-month low of $100.22 and a 12-month high of $176.18. The firm has a market capitalization of $3.71 billion, a P/E ratio of 7.62 and a beta of 1.60. The firm's 50-day moving average is $121.11 and its two-hundred day moving average is $115.39. The company has a debt-to-equity ratio of 0.32, a current ratio of 7.21 and a quick ratio of 1.78.

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MHO shares. Raymond James Financial dropped their price objective on M/I Homes from $168.00 to $140.00 and set a "strong-buy" rating for the company in a report on Tuesday, April 29th. Zelman & Associates upgraded M/I Homes from a "neutral" rating to an "outperform" rating in a report on Tuesday, August 12th. Wall Street Zen cut M/I Homes from a "buy" rating to a "hold" rating in a report on Friday, April 25th. Finally, Zacks Research upgraded M/I Homes to a "strong sell" rating in a report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, M/I Homes currently has an average rating of "Buy" and an average 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.