Hsbc Holdings PLC Takes Position in M/I Homes, Inc. $MHO

Key Points

• HSBC Holdings purchased 7,472 shares of M/I Homes in the second quarter, valued at approximately $1.2 million. Institutional investors and hedge funds collectively own 95.14% of the company.
• M/I Homes exceeded quarterly estimates with EPS of $3.14 and revenue of $1.06 billion, though revenue declined 6% year over year and EPS fell from $4.42.
• The stock opened at $148.75, while analysts’ average price target is $164.25 and the consensus rating is “Moderate Buy.” Separately, CFO Phillip G. Creek sold 20,000 shares for roughly $3.0 million.

Hsbc Holdings PLC purchased a new stake in M/I Homes, Inc. (NYSE:MHO - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,472 shares of the construction company's stock, valued at approximately $1,199,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of MHO. Palisade Capital Management LP acquired a new stake in shares of M/I Homes during the 2nd quarter worth approximately $3,003,000. Legal & General Group Plc bought a new stake in shares of M/I Homes during the second quarter valued at approximately $9,683,000. The Manufacturers Life Insurance Company acquired a new position in shares of M/I Homes in the second quarter valued at $2,094,000. Cullen Capital Management LLC acquired a new position in shares of M/I Homes in the second quarter valued at $658,000. Finally, Algert Global LLC raised its stake in shares of M/I Homes by 13.0% in the second quarter. Algert Global LLC now owns 73,509 shares of the construction company's stock valued at $11,820,000 after purchasing an additional 8,440 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Phillip G. Creek sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $149.56, for a total transaction of $2,991,200.00. Following the completion of the transaction, the chief financial officer owned 30,918 shares in the company, valued at approximately $4,624,096.08. The trade was a 39.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.60% of the company's stock.

M/I Homes Stock Down 1.8%

Shares of NYSE:MHO opened at $148.75 on Tuesday. M/I Homes, Inc. has a 12 month low of $116.78 and a 12 month high of $163.66. The company's 50-day moving average price is $151.44 and its two-hundred day moving average price is $139.23. The company has a quick ratio of 1.69, a current ratio of 7.65 and a debt-to-equity ratio of 0.29. The firm has a market cap of $3.76 billion, a P/E ratio of 12.52 and a beta of 1.60.

M/I Homes (NYSE:MHO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.14 earnings per share for the quarter, topping the consensus estimate of $3.13 by $0.01. M/I Homes had a net margin of 7.44% and a return on equity of 11.53%. The firm had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter in the previous year, the company posted $4.42 EPS. M/I Homes's revenue was down 6.0% on a year-over-year basis. As a group, research analysts forecast that M/I Homes, Inc. will post 12.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of M/I Homes in a research note on Wednesday, August 12th. Freedom Capital upgraded shares of M/I Homes to a "strong-buy" rating in a research note on Wednesday, June 24th. Zacks Research raised shares of M/I Homes from a "strong sell" rating to a "hold" rating in a report on Friday, June 26th. Zelman & Associates lowered shares of M/I Homes from an "outperform" rating to a "neutral" rating in a research report on Tuesday, July 7th. Finally, New Street Research set a $172.00 target price on shares of M/I Homes in a research report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $164.25.

M/I Homes Profile

M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations.

In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services.

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