Goldman Sachs Group Inc. Sells 83,646 Shares of M/I Homes, Inc. $MHO

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. reduced its stake in 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 and Exchange Commission (SEC). The institutional investor owned 760,154 shares of the construction company's stock after selling 83,646 shares during the quarter. Goldman Sachs Group Inc. owned about 2.84% of M/I Homes worth $86,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of MHO. Millennium Management LLC raised its stake in M/I Homes by 109.4% in the first quarter. Millennium Management LLC now owns 500,207 shares of the construction company's stock valued at $57,114,000 after purchasing an additional 261,381 shares in the last quarter. Donald Smith & CO. Inc. raised its stake in shares of M/I Homes by 10.2% during the first quarter. Donald Smith & CO. Inc. now owns 1,282,967 shares of the construction company's stock worth $146,489,000 after acquiring an additional 118,778 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of M/I Homes by 17,898.5% during the first quarter. GAMMA Investing LLC now owns 104,931 shares of the construction company's stock worth $11,981,000 after acquiring an additional 104,348 shares in the last quarter. Nuveen LLC purchased a new position in shares of M/I Homes during the first quarter worth approximately $11,829,000. Finally, Allianz Asset Management GmbH raised its stake in shares of M/I Homes by 77.5% during the first quarter. Allianz Asset Management GmbH now owns 229,065 shares of the construction company's stock worth $26,155,000 after acquiring an additional 100,029 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MHO has been the topic of several research reports. 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 analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, M/I Homes currently has a consensus rating of "Buy" and an average target price of $162.50.

M/I Homes Trading Down 1.3%

Shares of M/I Homes stock traded down $1.96 on Tuesday, hitting $150.42. The stock had a trading volume of 415,080 shares, compared to its average volume of 283,099. The company has a quick ratio of 1.78, a current ratio of 7.21 and a debt-to-equity ratio of 0.32. M/I Homes, Inc. has a one year low of $100.22 and a one year high of $176.18. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 8.26 and a beta of 1.66. The stock's 50-day simple moving average is $134.63 and its two-hundred day simple moving average is $119.16.

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

About M/I Homes

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.