M/I Homes, Inc. $MHO Shares Sold by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC reduced its stake in M/I Homes, Inc. by 23.7%, now holding 47,749 shares valued at approximately $5.45 million.
• Several large investors have increased their holdings in M/I Homes, with Fifth Third Bancorp and Covestor Ltd raising their stakes by 38.3% and 134.8%, respectively.
• Analysts have mixed ratings for M/I Homes, with a consensus rating of "Buy" and an average price target of $162.50.

AQR Capital Management LLC lowered its position in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 23.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 47,749 shares of the construction company's stock after selling 14,809 shares during the quarter. AQR Capital Management LLC owned about 0.18% of M/I Homes worth $5,452,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp increased its holdings in M/I Homes by 38.3% in the 1st quarter. Fifth Third Bancorp now owns 379 shares of the construction company's stock worth $43,000 after buying an additional 105 shares during the period. Covestor Ltd increased its stake in shares of M/I Homes by 134.8% in the first quarter. Covestor Ltd now owns 655 shares of the construction company's stock worth $75,000 after acquiring an additional 376 shares during the period. GAMMA Investing LLC raised its holdings in shares of M/I Homes by 57.6% during the first quarter. GAMMA Investing LLC now owns 919 shares of the construction company's stock worth $105,000 after purchasing an additional 336 shares during the last quarter. National Bank of Canada FI lifted its position in M/I Homes by 36.1% during the first quarter. National Bank of Canada FI now owns 1,164 shares of the construction company's stock valued at $133,000 after purchasing an additional 309 shares during the period. Finally, State of Wyoming purchased a new stake in M/I Homes in the fourth quarter valued at $162,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MHO has been the subject of several analyst reports. Zelman & Associates raised M/I Homes from a "neutral" rating to an "outperform" rating in a report on Tuesday, August 12th. Zacks Research raised shares of M/I Homes to a "strong sell" rating in a research note on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $162.50.

M/I Homes Price Performance

NYSE MHO traded down $1.73 during mid-day trading on Monday, hitting $152.37. The stock had a trading volume of 270,203 shares, compared to its average volume of 246,236. M/I Homes, Inc. has a twelve month low of $100.22 and a twelve month high of $176.18. The company has a debt-to-equity ratio of 0.32, a current ratio of 7.21 and a quick ratio of 1.78. The firm's 50 day moving average is $134.63 and its 200 day moving average is $119.16. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of 8.37 and a beta of 1.66.

M/I Homes (NYSE:MHO - Get Free Report) last issued its 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 net margin of 11.40% and a return on equity of 17.23%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.12 billion. The company's revenue for the quarter was up 4.8% compared to the same quarter last year. Equities research analysts forecast that M/I Homes, Inc. will post 18.44 earnings per share for the current fiscal year.

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.