Denali Advisors LLC Boosts Position in M/I Homes, Inc. $MHO

Key Points

• Denali Advisors LLC increased its stake in M/I Homes by 320.7% in the fourth quarter, ending with 55,239 shares valued at about $7.1 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding 95.14% of the company’s stock. Several other firms also reported increases in their M/I Homes positions.
• M/I Homes reported Q1 earnings of $2.55 per share, missing Wall Street estimates, while revenue came in at $920.7 million versus expectations of $1.18 billion. Analysts currently have a Moderate Buy consensus with a price target of $161.67.

Denali Advisors LLC lifted its stake in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 320.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 55,239 shares of the construction company's stock after acquiring an additional 42,108 shares during the period. Denali Advisors LLC owned 0.21% of M/I Homes worth $7,068,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Jones Financial Companies Lllp raised its holdings in M/I Homes by 73.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 206 shares of the construction company's stock valued at $30,000 after buying an additional 87 shares during the period. EverSource Wealth Advisors LLC raised its holdings in M/I Homes by 90.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company's stock valued at $32,000 after buying an additional 135 shares during the period. CIBC Private Wealth Group LLC raised its holdings in M/I Homes by 53.7% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 475 shares of the construction company's stock valued at $69,000 after buying an additional 166 shares during the period. Root Financial Partners LLC purchased a new stake in M/I Homes in the 3rd quarter valued at about $87,000. Finally, WealthCollab LLC raised its holdings in M/I Homes by 16.5% in the 2nd quarter. WealthCollab LLC now owns 614 shares of the construction company's stock valued at $69,000 after buying an additional 87 shares during the period. Hedge funds and other institutional investors own 95.14% of the company's stock.

Insiders Place Their Bets

In other M/I Homes news, insider Susan E. Krohne sold 491 shares of the business's stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $146.80, for a total transaction of $72,078.80. Following the sale, the insider directly owned 8,771 shares in the company, valued at $1,287,582.80. This represents a 5.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Phillip G. Creek sold 8,616 shares of the business's stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $146.80, for a total transaction of $1,264,828.80. Following the sale, the chief financial officer owned 45,815 shares in the company, valued at $6,725,642. This trade represents a 15.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 44,213 shares of company stock worth $6,443,868 over the last three months. Company insiders own 3.60% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MHO. Citigroup restated a "market outperform" rating on shares of M/I Homes in a report on Friday, January 30th. Weiss Ratings restated a "hold (c+)" rating on shares of M/I Homes in a report on Thursday, January 22nd. Oppenheimer set a $165.00 price objective on shares of M/I Homes in a report on Friday, January 30th. Zacks Research lowered shares of M/I Homes from a "hold" rating to a "strong sell" rating in a report on Tuesday. Finally, Seaport Research Partners restated a "neutral" rating on shares of M/I Homes in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $161.67.

M/I Homes Stock Up 1.3%

Shares of NYSE:MHO opened at $131.74 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 8.40 and a quick ratio of 1.95. The firm has a market capitalization of $3.37 billion, a PE ratio of 9.92 and a beta of 1.65. The firm's 50-day moving average is $128.58 and its two-hundred day moving average is $131.94. M/I Homes, Inc. has a 1 year low of $103.52 and a 1 year high of $158.92.

M/I Homes (NYSE:MHO - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The construction company reported $2.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.64 by ($0.09). The business had revenue of $920.71 million for the quarter, compared to analysts' expectations of $1.18 billion. M/I Homes had a return on equity of 12.91% and a net margin of 8.24%.The firm's revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter last year, the company earned $3.98 earnings per share. Analysts predict that M/I Homes, Inc. will post 12.6 EPS for the current 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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