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. boosted its holdings in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 29.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 reporting period.

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

M/I Homes Stock Down 1.9%

MHO traded down $2.76 during midday trading on Monday, reaching $144.89. The company's stock had a trading volume of 383,823 shares, compared to its average volume of 283,455. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of 7.96 and a beta of 1.66. 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 1 year low of $100.22 and a 1 year high of $176.18. The stock's 50-day moving average is $137.69 and its 200-day moving average is $120.24.

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 (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.12 billion. The company's revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, research analysts expect that M/I Homes, Inc. will post 18.44 EPS for the current year.

Analyst Ratings Changes

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

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.