Harbor Capital Advisors Inc. Purchases 1,750 Shares of M/I Homes, Inc. $MHO

Key Points

• Harbor Capital Advisors Inc. increased its holdings in M/I Homes, purchasing an additional 1,750 shares, bringing its total ownership to 7,652 shares valued at $858,000.
• M/I Homes reported a 4.42 EPS for the most recent quarter, slightly missing estimates, but its revenue was up 4.8% year-over-year at $1.16 billion.
• Institutional investors own 95.14% of M/I Homes' stock, indicating strong institutional interest in the company.

Harbor Capital Advisors Inc. grew its position in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 29.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,652 shares of the construction company's stock after purchasing an additional 1,750 shares during the period. Harbor Capital Advisors Inc.'s holdings in M/I Homes were worth $858,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MHO. Donald Smith & CO. Inc. lifted its stake in M/I Homes by 10.2% in the first quarter. Donald Smith & CO. Inc. now owns 1,282,967 shares of the construction company's stock worth $146,489,000 after purchasing an additional 118,778 shares during the last quarter. Millennium Management LLC lifted its position in M/I Homes by 109.4% during 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 during the period. Royce & Associates LP raised its position in M/I Homes by 14.4% in the first quarter. Royce & Associates LP now owns 314,362 shares of the construction company's stock worth $35,894,000 after acquiring an additional 39,491 shares during the period. Allianz Asset Management GmbH grew its position 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 purchasing an additional 100,029 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in M/I Homes by 81.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 196,921 shares of the construction company's stock valued at $22,484,000 after acquiring an additional 88,545 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

M/I Homes Trading Down 3.2%

Shares of NYSE MHO traded down $4.83 on Friday, reaching $147.53. 719,114 shares of the company traded hands, compared to its average volume of 266,100. The company has a current ratio of 7.21, a quick ratio of 1.78 and a debt-to-equity ratio of 0.32. M/I Homes, Inc. has a fifty-two week low of $100.22 and a fifty-two week high of $176.18. The stock has a market capitalization of $3.95 billion, a PE ratio of 8.10 and a beta of 1.66. The company has a 50 day moving average of $137.19 and a 200 day moving average of $120.09.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Zacks Research upgraded shares of M/I Homes to a "strong sell" rating in a report on Tuesday, August 12th. Zelman & Associates raised shares of M/I Homes from a "neutral" rating to an "outperform" rating in a research report on Tuesday, August 12th. Two equities research 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 data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $162.50.

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.