Congress Asset Management Co. Sells 2,699 Shares of M/I Homes, Inc. (NYSE:MHO)

Congress Asset Management Co. reduced its position in M/I Homes, Inc. (NYSE:MHO - Free Report) by 5.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,549 shares of the construction company's stock after selling 2,699 shares during the quarter. Congress Asset Management Co. owned 0.18% of M/I Homes worth $5,543,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Millennium Management LLC lifted its stake in M/I Homes by 85.5% in the fourth quarter. Millennium Management LLC now owns 238,826 shares of the construction company's stock worth $31,752,000 after purchasing an additional 110,086 shares during the last quarter. GAMMA Investing LLC boosted its holdings in M/I Homes by 17,898.5% during the 1st 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. Royce & Associates LP grew its position in M/I Homes by 42.5% during the 4th quarter. Royce & Associates LP now owns 274,871 shares of the construction company's stock worth $36,544,000 after acquiring an additional 81,964 shares during the last quarter. Raymond James Financial Inc. purchased a new position in M/I Homes in the 4th quarter worth approximately $10,672,000. Finally, Voloridge Investment Management LLC boosted its stake in shares of M/I Homes by 3,243.7% during the fourth quarter. Voloridge Investment Management LLC now owns 75,535 shares of the construction company's stock valued at $10,042,000 after purchasing an additional 73,276 shares during the period. 95.14% of the stock is currently owned by institutional investors.

M/I Homes Trading Up 0.3%

Shares of MHO traded up $0.33 during mid-day trading on Thursday, hitting $110.21. 172,001 shares of the company's stock traded hands, compared to its average volume of 285,019. The company has a quick ratio of 1.93, a current ratio of 7.65 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $2.95 billion, a P/E ratio of 5.59 and a beta of 1.65. The business's 50-day moving average price is $107.97 and its 200-day moving average price is $122.91. M/I Homes, Inc. has a 1 year low of $100.22 and a 1 year high of $176.18.

M/I Homes (NYSE:MHO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The construction company reported $3.98 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.16 by ($0.18). M/I Homes had a net margin of 12.51% and a return on equity of 20.20%. The company had revenue of $976.09 million for the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the previous year, the firm posted $4.78 earnings per share. The firm's revenue for the quarter was down 7.4% compared to the same quarter last year. As a group, sell-side analysts forecast that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MHO has been the topic of several analyst reports. Raymond James decreased their target price 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. 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. Finally, Seaport Res Ptn upgraded shares of M/I Homes from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th.

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.