Russell Investments Group Ltd. Reduces Position in M/I Homes, Inc. $MHO

Key Points

• Russell Investments Group Ltd. has significantly reduced its stake in M/I Homes, selling 49,942 shares, a decrease of 65.0%, leaving it with 26,862 shares valued at $3,063,000.
• Other institutional investors have also been active, with notable increases such as GAMMA Investing LLC raising its holdings by 17,898.5%, now owning 104,931 shares.
• M/I Homes' stock is currently rated as a "Buy" with an average price target of $162.50, despite a recent earnings report showing a slight miss in EPS expectations.

Russell Investments Group Ltd. lowered its stake in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 65.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,862 shares of the construction company's stock after selling 49,942 shares during the period. Russell Investments Group Ltd. owned 0.10% of M/I Homes worth $3,063,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. lifted its stake in shares of M/I Homes by 10.2% in the 1st quarter. Donald Smith & CO. Inc. now owns 1,282,967 shares of the construction company's stock valued at $146,489,000 after purchasing an additional 118,778 shares during the last quarter. Millennium Management LLC lifted its stake in shares of M/I Homes by 85.5% in the 4th quarter. Millennium Management LLC now owns 238,826 shares of the construction company's stock valued at $31,752,000 after purchasing an additional 110,086 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of M/I Homes by 17,898.5% in the 1st quarter. GAMMA Investing LLC now owns 104,931 shares of the construction company's stock valued at $11,981,000 after purchasing an additional 104,348 shares during the last quarter. Nuveen LLC acquired a new position in shares of M/I Homes in the 1st quarter valued at $11,829,000. Finally, Allianz Asset Management GmbH lifted its stake in shares of M/I Homes by 77.5% in the 1st quarter. Allianz Asset Management GmbH now owns 229,065 shares of the construction company's stock valued at $26,155,000 after purchasing an additional 100,029 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

M/I Homes Stock Down 0.0%

MHO stock traded down $0.02 during mid-day trading on Friday, reaching $146.40. The company had a trading volume of 90,409 shares, compared to its average volume of 282,250. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.78 and a current ratio of 7.21. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 8.04 and a beta of 1.60. The firm has a fifty day simple moving average of $125.17 and a 200 day simple moving average of $116.32. M/I Homes, Inc. has a fifty-two week low of $100.22 and a fifty-two week high of $176.18.

M/I Homes (NYSE:MHO - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The construction company reported $4.42 earnings per share (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 company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.12 billion. The firm's quarterly revenue was up 4.8% on a year-over-year basis. Analysts forecast that M/I Homes, Inc. will post 18.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MHO. Zacks Research raised M/I Homes to a "strong sell" rating in a research note on Tuesday, August 12th. Zelman & Associates raised M/I Homes from a "neutral" rating to an "outperform" rating in a research note on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, M/I Homes presently has an average rating of "Buy" and an average target price of $162.50.

About M/I Homes

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.