M/I Homes, Inc. $MHO Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in M/I Homes, Inc. by 9.9%, now holding 760,154 shares valued at approximately $86.8 million.
• Other institutional investors, including Fifth Third Bancorp and Covestor Ltd, have increased their investments in M/I Homes by 38.3% and 134.8%, respectively, indicating growing interest from the market.
• M/I Homes reported a quarterly earnings miss with an EPS of $4.42, slightly below the estimate of $4.43, alongside a revenue increase of 4.8% year-over-year.

Goldman Sachs Group Inc. decreased its position in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 9.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 760,154 shares of the construction company's stock after selling 83,646 shares during the period. Goldman Sachs Group Inc. owned approximately 2.84% of M/I Homes worth $86,794,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Xponance Inc. boosted its stake in shares of M/I Homes by 5.0% during the first quarter. Xponance Inc. now owns 2,019 shares of the construction company's stock valued at $231,000 after purchasing an additional 97 shares during the period. Fifth Third Bancorp boosted its stake in shares of M/I Homes by 38.3% during the first quarter. Fifth Third Bancorp now owns 379 shares of the construction company's stock valued at $43,000 after purchasing an additional 105 shares during the period. SummerHaven Investment Management LLC boosted its stake in shares of M/I Homes by 1.8% during the first quarter. SummerHaven Investment Management LLC now owns 6,443 shares of the construction company's stock valued at $736,000 after purchasing an additional 114 shares during the period. Journey Strategic Wealth LLC lifted its stake in M/I Homes by 4.8% in the first quarter. Journey Strategic Wealth LLC now owns 2,705 shares of the construction company's stock worth $309,000 after acquiring an additional 125 shares during the period. Finally, CW Advisors LLC lifted its stake in M/I Homes by 1.1% in the first quarter. CW Advisors LLC now owns 16,121 shares of the construction company's stock worth $1,841,000 after acquiring an additional 171 shares during the period. Institutional investors own 95.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MHO shares. Zelman & Associates raised shares of M/I Homes from a "neutral" rating to an "outperform" rating in a research note on Tuesday, August 12th. Zacks Research raised shares of M/I Homes to a "strong sell" rating in a research note on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $162.50.

M/I Homes Stock Up 0.3%

M/I Homes stock traded up $0.43 during trading hours on Thursday, reaching $152.37. The stock had a trading volume of 326,750 shares, compared to its average volume of 260,202. The company has a market cap of $4.08 billion, a price-to-earnings ratio of 8.37 and a beta of 1.66. The company has a debt-to-equity ratio of 0.32, a current ratio of 7.21 and a quick ratio of 1.78. The business's 50 day moving average price is $136.66 and its 200-day moving average price is $119.87. M/I Homes, Inc. has a 52 week low of $100.22 and a 52 week high of $176.18.

M/I Homes (NYSE:MHO - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The construction company reported $4.42 EPS for the quarter, missing analysts' consensus estimates of $4.43 by ($0.01). The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.12 billion. M/I Homes had a return on equity of 17.23% and a net margin of 11.40%.The company's revenue was up 4.8% compared to the same quarter last year. Sell-side analysts anticipate that M/I Homes, Inc. will post 18.44 EPS for the current year.

M/I Homes 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.