Massachusetts Financial Services Co. MA Trims Position in M/I Homes, Inc. $MHO

Key Points

• Massachusetts Financial Services cut its stake in M/I Homes by 3.5%, selling 9,157 shares to hold 255,863 shares worth about $32.74 million, while institutional investors own roughly 95.14% of the stock.
• M/I Homes reported Q4 EPS of $3.91 (beating estimates by $0.03) on revenue of $1.15 billion (down 4.9% YoY); the shares were trading down ~2.8%, with a market cap of about $3.09 billion and a P/E of 8.2.
• Insiders have been net sellers (CEO sold 20,000 shares; 49,213 shares sold over the last 90 days), while analysts rate the stock a consensus "Moderate Buy" with an average target of $161.67.

Massachusetts Financial Services Co. MA cut its holdings in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 255,863 shares of the construction company's stock after selling 9,157 shares during the period. Massachusetts Financial Services Co. MA owned 0.98% of M/I Homes worth $32,738,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in M/I Homes by 26.1% in the third quarter. JPMorgan Chase & Co. now owns 266,582 shares of the construction company's stock worth $38,505,000 after purchasing an additional 55,206 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in M/I Homes in the third quarter worth $3,401,000. American Century Companies Inc. grew its stake in M/I Homes by 10.9% in the third quarter. American Century Companies Inc. now owns 936,597 shares of the construction company's stock worth $135,282,000 after purchasing an additional 91,732 shares during the period. Cramer Rosenthal Mcglynn LLC purchased a new stake in M/I Homes in the third quarter worth $13,315,000. Finally, Rafferty Asset Management LLC grew its stake in M/I Homes by 83.2% in the third quarter. Rafferty Asset Management LLC now owns 39,831 shares of the construction company's stock worth $5,753,000 after purchasing an additional 18,095 shares during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

M/I Homes Trading Down 2.8%

Shares of NYSE:MHO opened at $120.67 on Thursday. The company has a market cap of $3.09 billion, a P/E ratio of 8.20 and a beta of 1.77. The company has a debt-to-equity ratio of 0.31, a current ratio of 8.12 and a quick ratio of 1.86. M/I Homes, Inc. has a 1 year low of $102.44 and a 1 year high of $158.92. The stock's fifty day moving average price is $132.47 and its 200-day moving average price is $132.82.

M/I Homes (NYSE:MHO - Get Free Report) last posted its earnings results on Wednesday, January 28th. The construction company reported $3.91 earnings per share for the quarter, beating analysts' consensus estimates of $3.88 by $0.03. M/I Homes had a return on equity of 14.50% and a net margin of 9.12%.The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company earned $4.71 earnings per share. M/I Homes's revenue was down 4.9% on a year-over-year basis. Sell-side analysts expect that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

Insider Buying and Selling at M/I Homes

In other M/I Homes news, CEO Robert H. Schottenstein sold 20,000 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $144.47, for a total value of $2,889,400.00. Following the transaction, the chief executive officer owned 313,874 shares of the company's stock, valued at approximately $45,345,376.78. This represents a 5.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Susan E. Krohne sold 5,000 shares of the firm's stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $134.28, for a total value of $671,400.00. Following the completion of the transaction, the insider directly owned 6,167 shares in the company, valued at $828,104.76. This trade represents a 44.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 49,213 shares of company stock valued at $7,115,268. 3.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MHO. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of M/I Homes in a research note on Thursday, January 22nd. Citizens Jmp began coverage on M/I Homes in a research note on Wednesday, January 7th. They issued a "market outperform" rating and a $165.00 price target on the stock. Zacks Research raised M/I Homes from a "strong sell" rating to a "hold" rating in a research note on Friday, April 3rd. Citigroup reaffirmed a "market outperform" rating on shares of M/I Homes in a research note on Friday, January 30th. Finally, Seaport Research Partners reaffirmed a "neutral" rating on shares of M/I Homes in a research note on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $161.67.

About M/I Homes

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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