Ieq Capital LLC Makes New Investment in M/I Homes, Inc. $MHO

Key Points

• Ieq Capital LLC acquired a new stake in M/I Homes, purchasing 5,436 shares valued at approximately $621,000.
• Institutions like Donald Smith & CO. Inc. and Allianz Asset Management GmbH increased their stakes significantly, indicating strong institutional interest, with 95.14% of the stock owned by hedge funds and institutional investors.
• M/I Homes reported a 4.8% increase in revenue year-over-year despite a slight earnings miss, with shares currently having a consensus rating of "Buy" and a target price of $162.50.

Ieq Capital LLC acquired a new position in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,436 shares of the construction company's stock, valued at approximately $621,000.

A number of other institutional investors also recently added to or reduced their stakes in MHO. Aristides Capital LLC acquired a new stake in shares of M/I Homes in the first quarter valued at $269,000. Rafferty Asset Management LLC lifted its holdings in shares of M/I Homes by 5.3% in the first quarter. Rafferty Asset Management LLC now owns 19,363 shares of the construction company's stock valued at $2,211,000 after buying an additional 967 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in shares of M/I Homes in the first quarter valued at $1,447,000. Jump Financial LLC lifted its holdings in shares of M/I Homes by 153.5% in the first quarter. Jump Financial LLC now owns 30,268 shares of the construction company's stock valued at $3,456,000 after buying an additional 18,329 shares during the period. Finally, AlphaQuest LLC lifted its holdings in shares of M/I Homes by 54.0% in the first quarter. AlphaQuest LLC now owns 14,417 shares of the construction company's stock valued at $1,646,000 after buying an additional 5,055 shares during the period. Institutional investors and hedge funds own 95.14% of the company's stock.

M/I Homes Stock Down 2.8%

M/I Homes stock traded down $4.42 during mid-day trading on Tuesday, hitting $152.80. The company's stock had a trading volume of 44,869 shares, compared to its average volume of 281,285. The firm's 50 day moving average is $130.81 and its 200 day moving average is $117.92. The company has a market cap of $4.09 billion, a PE ratio of 8.41 and a beta of 1.66. The company has a debt-to-equity ratio of 0.32, a current ratio of 7.21 and a quick ratio of 1.78. M/I Homes, Inc. has a 52-week low of $100.22 and a 52-week high of $176.18.

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MHO. Zelman & Associates upgraded M/I Homes from a "neutral" rating to an "outperform" rating in a report on Tuesday, August 12th. Zacks Research raised M/I Homes to a "strong sell" rating in a research report on Tuesday, August 12th. Two 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's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price 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.