Corient Private Wealth LP Takes $6.21 Million Position in M/I Homes, Inc. $MHO

Key Points

• Corient Private Wealth acquired 38,652 M/I Homes shares worth approximately $6.21 million, while institutional investors collectively own 95.14% of the company.
• Analyst sentiment remains favorable, with M/I Homes holding a consensus “Moderate Buy” rating and an average price target of $164.25.
• M/I Homes slightly exceeded quarterly earnings and revenue expectations, reporting $3.14 in EPS and $1.06 billion in revenue, though revenue declined 6% year over year.

Corient Private Wealth LP acquired a new stake in M/I Homes, Inc. (NYSE:MHO - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 38,652 shares of the construction company's stock, valued at approximately $6,215,000. Corient Private Wealth LP owned approximately 0.15% of M/I Homes as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in MHO. Royal Bank of Canada boosted its position in M/I Homes by 46.3% in the 1st quarter. Royal Bank of Canada now owns 29,774 shares of the construction company's stock valued at $3,400,000 after buying an additional 9,422 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of M/I Homes by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,868 shares of the construction company's stock worth $1,812,000 after acquiring an additional 703 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of M/I Homes during the first quarter worth $205,000. Strs Ohio purchased a new stake in shares of M/I Homes during the first quarter worth $114,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of M/I Homes by 90.6% in the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company's stock valued at $32,000 after acquiring an additional 135 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other M/I Homes news, CFO Phillip G. Creek sold 10,000 shares of M/I Homes stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $151.28, for a total transaction of $1,512,800.00. Following the completion of the sale, the chief financial officer directly owned 30,918 shares of the company's stock, valued at $4,677,275.04. The trade was a 24.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. New Street Research set a $172.00 target price on M/I Homes in a report on Tuesday, August 4th. Freedom Capital upgraded M/I Homes to a "strong-buy" rating in a report on Wednesday, June 24th. Zelman & Associates lowered M/I Homes from an "outperform" rating to a "neutral" rating in a research report on Tuesday, July 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of M/I Homes in a research note on Wednesday, August 12th. Finally, Zacks Research upgraded M/I Homes from a "strong sell" rating to a "hold" rating in a research note on Friday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $164.25.

M/I Homes Price Performance

Shares of MHO opened at $148.75 on Tuesday. M/I Homes, Inc. has a twelve month low of $116.78 and a twelve month high of $163.66. The firm's fifty day simple moving average is $151.44 and its 200-day simple moving average is $139.23. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 12.52 and a beta of 1.60. The company has a current ratio of 7.65, a quick ratio of 1.69 and a debt-to-equity ratio of 0.29.

M/I Homes (NYSE:MHO - Get Free Report) last issued its earnings results on Wednesday, July 29th. The construction company reported $3.14 EPS for the quarter, topping analysts' consensus estimates of $3.13 by $0.01. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. M/I Homes had a net margin of 7.44% and a return on equity of 11.53%. The company's revenue was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.42 earnings per share. Equities analysts forecast that M/I Homes, Inc. will post 12.62 EPS for the current fiscal year.

M/I Homes Profile

M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations.

In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services.

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