Gradient Investments LLC Acquires 7,846 Shares of M/I Homes, Inc. $MHO

Key Points

• Gradient Investments increased its M/I Homes stake by 6.4% in the third quarter, adding 7,846 shares to hold 129,757 shares worth approximately $17.5 million. Institutional investors collectively own 95.14% of the company.
• M/I Homes reported quarterly EPS of $3.14, narrowly exceeding estimates, while revenue reached $1.06 billion but declined 6% year over year. Analysts expect full-year EPS of $12.12.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and a $164.40 target price, compared with the recent share price of $130.33.

Gradient Investments LLC lifted its holdings in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 6.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,757 shares of the construction company's stock after purchasing an additional 7,846 shares during the period. Gradient Investments LLC owned 0.51% of M/I Homes worth $17,534,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in MHO. BlackRock Inc. acquired a new position in M/I Homes in the second quarter valued at approximately $769,776,000. Donald Smith & CO. Inc. bought a new stake in shares of M/I Homes in the 2nd quarter valued at $223,736,000. Junto Capital Management LP lifted its position in shares of M/I Homes by 3.1% during the 2nd quarter. Junto Capital Management LP now owns 338,298 shares of the construction company's stock valued at $54,395,000 after acquiring an additional 10,047 shares during the period. Bank of America Corp DE acquired a new stake in M/I Homes in the second quarter worth $31,561,000. Finally, Bank of New York Mellon Corp bought a new stake in M/I Homes in the second quarter valued at $30,032,000. Institutional investors and hedge funds own 95.14% of the company's stock.

Insider Activity

In related news, CFO Phillip Creek sold 20,000 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $149.56, for a total value of $2,991,200.00. Following the completion of the sale, the chief financial officer directly owned 30,918 shares of the company's stock, valued at approximately $4,624,096.08. This represents a 39.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MHO shares. Citigroup reissued a "market outperform" rating on shares of M/I Homes in a research report on Thursday. Zacks Research lowered M/I Homes from a "hold" rating to a "strong sell" rating in a report on Wednesday, September 9th. Freedom Capital raised M/I Homes to a "strong-buy" rating in a research note on Wednesday, June 24th. Jefferies Financial Group set a $165.00 price objective on M/I Homes in a report on Thursday. Finally, Zelman & Associates lowered M/I Homes from an "outperform" rating to a "neutral" rating in a research report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $164.40.

M/I Homes Stock Up 0.8%

Shares of MHO traded up $1.01 on Thursday, reaching $130.33. The company's stock had a trading volume of 41,745 shares, compared to its average volume of 235,288. The company has a current ratio of 7.65, a quick ratio of 1.69 and a debt-to-equity ratio of 0.29. M/I Homes, Inc. has a twelve month low of $116.78 and a twelve month high of $163.66. The stock has a market capitalization of $3.29 billion, a PE ratio of 10.98 and a beta of 1.60. The firm has a fifty day moving average of $144.91 and a 200-day moving average of $139.53.

M/I Homes (NYSE:MHO - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The construction company reported $3.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.13 by $0.01. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. M/I Homes had a return on equity of 11.53% and a net margin of 7.44%.The company's quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.42 EPS. Equities analysts predict that M/I Homes, Inc. will post 12.12 EPS for the current year.

M/I Homes Company Profile

M/I Homes, Inc is a homebuilder that constructs and sells single-family homes for a range of buyers, including first-time, move-up and luxury customers. The company offers homes in multiple designs and price ranges, with options that may include different floor plans, elevations, finishes and features. Its operations also include land acquisition, development of residential communities and the construction of homes on customer-owned lots.

Founded in 1976 by Irving and Melvin Schottenstein, M/I Homes is headquartered in Columbus, Ohio.

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.