M/I Homes, Inc. $MHO Shares Sold by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB trimmed its stake in M/I Homes by 13.2% in Q4, selling 11,742 shares and leaving it with 77,463 shares valued at about $9.96 million.
• Insiders have been net sellers, offloading 49,213 shares worth roughly $7.12 million over the past 90 days, including CFO Phillip Creek's sale of 8,616 shares for about $1.26 million.
• Analysts hold a consensus rating of Moderate Buy with an average price target of $161.67, though individual ratings range from Strong Buy to Strong Sell.

Nordea Investment Management AB lessened its stake in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 13.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 77,463 shares of the construction company's stock after selling 11,742 shares during the period. Nordea Investment Management AB owned 0.30% of M/I Homes worth $9,956,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of MHO. Salomon & Ludwin LLC acquired a new stake in M/I Homes during the third quarter worth about $28,000. Jones Financial Companies Lllp boosted its holdings in M/I Homes by 73.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 206 shares of the construction company's stock valued at $30,000 after purchasing an additional 87 shares during the last quarter. Private Trust Co. NA purchased a new stake in shares of M/I Homes in the 3rd quarter valued at approximately $38,000. EverSource Wealth Advisors LLC grew its stake in shares of M/I Homes by 90.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company's stock valued at $32,000 after buying an additional 135 shares during the period. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of M/I Homes by 53.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 475 shares of the construction company's stock worth $69,000 after buying an additional 166 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MHO shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of M/I Homes in a research report on Thursday, January 22nd. Citizens Jmp started coverage on M/I Homes in a research note on Wednesday, January 7th. They set a "market outperform" rating and a $165.00 target price for the company. Oppenheimer set a $165.00 target price on M/I Homes in a research report on Friday, January 30th. Citigroup reaffirmed a "market outperform" rating on shares of M/I Homes in a research note on Friday, January 30th. Finally, Zacks Research cut M/I Homes from a "hold" rating to a "strong sell" rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $161.67.

M/I Homes Price Performance

M/I Homes stock opened at $122.85 on Thursday. The company's 50 day simple moving average is $136.42 and its 200-day simple moving average is $135.77. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.86 and a current ratio of 8.12. M/I Homes, Inc. has a 1 year low of $100.22 and a 1 year high of $158.92. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 8.35 and a beta of 1.77.

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

Insiders Place Their Bets

In other news, CFO Phillip G. Creek sold 8,616 shares of the firm's stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $146.80, for a total transaction of $1,264,828.80. Following the completion of the transaction, the chief financial officer directly owned 45,815 shares in the company, valued at $6,725,642. This trade represents a 15.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Susan E. Krohne sold 5,000 shares of M/I Homes stock in a transaction on Friday, January 30th. The shares were sold at an average price of $134.28, for a total value of $671,400.00. Following the completion of the sale, the insider directly owned 6,167 shares of the company's stock, valued at $828,104.76. The trade was a 44.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 49,213 shares of company stock worth $7,115,268 over the last ninety days. Corporate insiders own 3.50% of the company's stock.

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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