Hennessy Advisors Inc. Has $30.22 Million Holdings in M/I Homes, Inc. $MHO

Key Points

• Hennessy Advisors Inc. reduced its stake in M/I Homes by 9.9%, owning 269,500 shares valued at approximately $30.22 million, which constitutes 1.0% of their investment portfolio.
• Institutional investors and hedge funds own a significant share of M/I Homes, accounting for 95.14% of the company's stock, with various firms increasing their stakes in recent months.
• Analysts have given M/I Homes a consensus rating of "Buy" with a target price of $162.50, reflecting a positive outlook for the company's stock performance.

Hennessy Advisors Inc. lessened its stake in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 9.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 269,500 shares of the construction company's stock after selling 29,700 shares during the period. M/I Homes comprises 1.0% of Hennessy Advisors Inc.'s investment portfolio, making the stock its 29th largest holding. Hennessy Advisors Inc. owned about 1.01% of M/I Homes worth $30,216,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp grew its stake in M/I Homes by 38.3% during the 1st quarter. Fifth Third Bancorp now owns 379 shares of the construction company's stock valued at $43,000 after acquiring an additional 105 shares in the last quarter. Covestor Ltd grew its stake in M/I Homes by 134.8% during the 1st quarter. Covestor Ltd now owns 655 shares of the construction company's stock valued at $75,000 after acquiring an additional 376 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of M/I Homes by 57.6% in the 1st quarter. GAMMA Investing LLC now owns 919 shares of the construction company's stock valued at $105,000 after buying an additional 336 shares in the last quarter. Strs Ohio bought a new stake in shares of M/I Homes in the 1st quarter valued at approximately $114,000. Finally, National Bank of Canada FI grew its stake in shares of M/I Homes by 36.1% in the 1st quarter. National Bank of Canada FI now owns 1,164 shares of the construction company's stock valued at $133,000 after buying an additional 309 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Zacks Research raised M/I Homes from a "strong sell" rating to a "hold" rating in a research note on Friday, September 26th. Weiss Ratings reissued a "hold (c+)" rating on shares of M/I Homes in a research note on Saturday, September 27th. Finally, Zelman & Associates raised M/I Homes from a "neutral" rating to an "outperform" rating in a research note on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, M/I Homes has an average rating of "Buy" and a consensus target price of $162.50.

M/I Homes Stock Up 0.9%

Shares of M/I Homes stock opened at $148.22 on Friday. M/I Homes, Inc. has a 12-month low of $100.22 and a 12-month high of $176.18. The stock has a market capitalization of $3.97 billion, a P/E ratio of 8.14 and a beta of 1.70. The stock has a 50 day moving average price of $142.61 and a two-hundred day moving average price of $121.96. 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 (NYSE:MHO - Get Free Report) last issued its quarterly 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). M/I Homes had a return on equity of 17.23% and a net margin of 11.40%.The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.12 billion. The company's revenue was up 4.8% compared to the same quarter last year. Equities analysts expect that M/I Homes, Inc. will post 18.44 earnings per share 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.

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