FourThought Financial Partners LLC Makes New Investment in M/I Homes, Inc. (NYSE:MHO)

Key Points

• FourThought Financial Partners LLC has acquired a new stake in M/I Homes, purchasing 2,069 shares valued at approximately $236,000 during the first quarter.
• Multiple institutional investors, including Principal Financial Group and GAMMA Investing LLC, have increased their positions in M/I Homes, indicating strong institutional interest with 95.14% of the company's stock now owned by institutional investors.
• Analysts have adjusted their ratings for M/I Homes, with Raymond James lowering their price target from $168.00 to $140.00 while maintaining a "strong-buy" rating.

FourThought Financial Partners LLC bought a new position in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,069 shares of the construction company's stock, valued at approximately $236,000.

Several other institutional investors have also recently made changes to their positions in MHO. Principal Financial Group Inc. increased its stake in M/I Homes by 2.6% in the first quarter. Principal Financial Group Inc. now owns 144,678 shares of the construction company's stock valued at $16,519,000 after acquiring an additional 3,698 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of M/I Homes by 57.6% in the first quarter. GAMMA Investing LLC now owns 919 shares of the construction company's stock worth $105,000 after purchasing an additional 336 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of M/I Homes by 17.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,205 shares of the construction company's stock worth $594,000 after purchasing an additional 763 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in M/I Homes by 44.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,707 shares of the construction company's stock worth $880,000 after buying an additional 2,363 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in M/I Homes by 38.3% in the first quarter. Fifth Third Bancorp now owns 379 shares of the construction company's stock worth $43,000 after buying an additional 105 shares during the period. Institutional investors own 95.14% of the company's stock.

M/I Homes Stock Performance

Shares of MHO stock traded up $1.38 during mid-day trading on Monday, reaching $123.57. 225,374 shares of the company's stock traded hands, compared to its average volume of 306,634. M/I Homes, Inc. has a 12 month low of $100.22 and a 12 month high of $176.18. The firm has a 50 day moving average price of $111.88 and a two-hundred day moving average price of $115.22. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.72 and a current ratio of 6.95. The firm has a market capitalization of $3.31 billion, a PE ratio of 6.79 and a beta of 1.64.

M/I Homes (NYSE:MHO - Get Free Report) last released its earnings results 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). M/I Homes had a net margin of 11.40% and a return on equity of 17.23%. The firm had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.12 billion. The business's revenue for the quarter was up 4.8% on a year-over-year basis. On average, research analysts forecast that M/I Homes, Inc. will post 18.44 EPS for the current year.

Analyst Upgrades and Downgrades

MHO has been the subject of several recent research reports. Wall Street Zen lowered shares of M/I Homes from a "buy" rating to a "hold" rating in a report on Friday, April 25th. Raymond James Financial cut their target price on shares of M/I Homes from $168.00 to $140.00 and set a "strong-buy" rating for the company in a research report on Tuesday, April 29th.

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.