M/I Homes, Inc. $MHO Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its stake in M/I Homes, Inc. by 21% in the first quarter, owning approximately 18,755 shares worth $2.12 million after selling nearly 5,000 shares.
• Several institutional investors have increased their positions in M/I Homes, with Quantbot Technologies LP raising its stake by 63.5%, now holding 50,090 shares valued at $5.72 million.
• Research firms have mixed ratings on M/I Homes, with an average consensus rating of "Buy" and a target price of $162.50, highlighting analysts' differing outlooks on the company's performance.

Hsbc Holdings PLC cut its holdings in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 21.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,755 shares of the construction company's stock after selling 4,990 shares during the period. Hsbc Holdings PLC owned 0.07% of M/I Homes worth $2,124,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MHO. Donald Smith & CO. Inc. grew its position 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 during the last quarter. Millennium Management LLC grew its position in shares of M/I Homes by 85.5% during the fourth quarter. Millennium Management LLC now owns 238,826 shares of the construction company's stock worth $31,752,000 after acquiring an additional 110,086 shares during the last quarter. GAMMA Investing LLC grew its position 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 during 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 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 acquiring an additional 100,029 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

M/I Homes Stock Performance

NYSE:MHO traded up $1.04 during midday trading on Friday, reaching $147.45. The stock had a trading volume of 248,865 shares, compared to its average volume of 288,042. The firm has a fifty day simple moving average of $125.99 and a two-hundred day simple moving average of $116.51. M/I Homes, Inc. has a 12-month low of $100.22 and a 12-month high of $176.18. The company has a quick ratio of 1.78, a current ratio of 7.21 and a debt-to-equity ratio of 0.32. The stock has a market cap of $3.95 billion, a P/E ratio of 8.10 and a beta of 1.60.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Zelman & Associates upgraded shares of M/I Homes from a "neutral" rating to an "outperform" rating in a research report on Tuesday, August 12th. Zacks Research upgraded shares of M/I Homes to a "strong sell" rating in a research report on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus 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.