Empowered Funds LLC Makes New Investment in M/I Homes, Inc. $MHO

Key Points

• Empowered Funds acquired 12,247 shares of M/I Homes in the second quarter, valued at approximately $1.97 million. Institutional investors collectively own 95.14% of the company.
• Analyst sentiment is generally positive, 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 expectations with EPS of $3.14 versus $3.13 expected, though revenue fell 6% year over year to $1.06 billion. CFO Phillip Creek separately sold 10,000 shares at an average price of $151.28.

Empowered Funds LLC acquired a new position in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 12,247 shares of the construction company's stock, valued at approximately $1,969,000.

Other large investors have also recently made changes to their positions in the company. Hamilton Capital LLC acquired a new position in shares of M/I Homes in the 2nd quarter valued at $323,000. Capstone Investment Advisors LLC purchased a new stake in M/I Homes during the 2nd quarter valued at about $502,000. Corient Private Wealth LP purchased a new stake in M/I Homes during the 2nd quarter valued at about $6,215,000. Bank of America Corp DE acquired a new position in shares of M/I Homes in the second quarter valued at about $31,561,000. Finally, Basswood Capital Management L.L.C. acquired a new position in shares of M/I Homes in the second quarter valued at about $21,926,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, CFO Phillip Creek sold 10,000 shares of M/I Homes stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 30,918 shares in the company, valued at approximately $4,677,275.04. This trade represents a 24.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.60% of the stock is currently owned by company insiders.

M/I Homes Price Performance

NYSE:MHO opened at $147.43 on Friday. The firm's fifty day moving average is $150.92 and its two-hundred day moving average is $139.22. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 12.41 and a beta of 1.61. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.69 and a current ratio of 7.65. M/I Homes, Inc. has a one year low of $116.78 and a one year high of $163.66.

M/I Homes (NYSE:MHO - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.14 earnings per share for the quarter, beating analysts' consensus estimates of $3.13 by $0.01. M/I Homes had a return on equity of 11.53% and a net margin of 7.44%.The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the business posted $4.42 EPS. The company's revenue was down 6.0% on a year-over-year basis. Research analysts expect that M/I Homes, Inc. will post 12.62 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.

Want to see what other hedge funds are holding MHO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for M/I Homes, Inc. (NYSE:MHO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source