M/I Homes, Inc. $MHO Shares Sold by Tudor Investment Corp ET AL

Key Points

• Tudor Investment Corp slashed its stake in M/I Homes by 92.0% in Q3, selling 34,370 shares and leaving 2,992 shares valued at $432,000, while institutional investors collectively own about 95.14% of the stock.
• Company insiders have been net sellers recently — including the CFO selling 8,616 shares and another insider selling 491 shares — with insiders disposing of 49,213 shares worth roughly $7.12 million over the last three months.
• Despite the selling, Wall Street sentiment is mildly positive: M/I Homes carries a consensus rating of “Moderate Buy” with an average price target of $161.67, while the stock trades near $120.67 and has a P/E of 8.2.

Tudor Investment Corp ET AL cut its position in M/I Homes, Inc. (NYSE:MHO - Free Report) by 92.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,992 shares of the construction company's stock after selling 34,370 shares during the quarter. Tudor Investment Corp ET AL's holdings in M/I Homes were worth $432,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its position in shares of 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 period. WealthCollab LLC boosted its position in shares of M/I Homes by 16.5% in the 2nd quarter. WealthCollab LLC now owns 614 shares of the construction company's stock valued at $69,000 after purchasing an additional 87 shares during the period. Private Advisor Group LLC boosted its position in shares of M/I Homes by 3.0% in the 3rd quarter. Private Advisor Group LLC now owns 3,027 shares of the construction company's stock valued at $437,000 after purchasing an additional 89 shares during the period. SkyOak Wealth LLC boosted its position in shares of M/I Homes by 3.8% in the 3rd quarter. SkyOak Wealth LLC now owns 2,445 shares of the construction company's stock valued at $353,000 after purchasing an additional 90 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of M/I Homes by 4.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,983 shares of the construction company's stock valued at $286,000 after purchasing an additional 93 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Susan E. Krohne sold 491 shares of the firm's stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $146.80, for a total value of $72,078.80. Following the completion of the transaction, the insider directly owned 8,771 shares of the company's stock, valued at $1,287,582.80. This trade represents a 5.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Phillip G. Creek sold 8,616 shares of the firm's stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $146.80, for a total value of $1,264,828.80. Following the completion of the transaction, the chief financial officer directly owned 45,815 shares of the company's stock, valued at $6,725,642. The trade was a 15.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 49,213 shares of company stock valued at $7,115,268 in the last three months. 3.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MHO has been the subject of a number of research analyst reports. Seaport Research Partners reissued a "neutral" rating on shares of M/I Homes in a research report on Tuesday, April 7th. Oppenheimer set a $165.00 price objective on M/I Homes in a research report on Friday, January 30th. Citizens Jmp started coverage on M/I Homes in a research report on Wednesday, January 7th. They set a "market outperform" rating and a $165.00 price objective for the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of M/I Homes in a research report on Thursday, January 22nd. Finally, Citigroup reaffirmed a "market outperform" rating on shares of M/I Homes in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, M/I Homes presently has an average rating of "Moderate Buy" and a consensus price target of $161.67.

M/I Homes Stock Down 2.8%

M/I Homes stock opened at $120.67 on Thursday. M/I Homes, Inc. has a twelve month low of $102.44 and a twelve month high of $158.92. The stock has a 50 day moving average of $132.47 and a two-hundred day moving average of $132.82. The company has a current ratio of 8.12, a quick ratio of 1.86 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 8.20 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 return on equity of 14.50% and a net margin of 9.12%.The company had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same period last year, the firm earned $4.71 EPS. The firm's revenue for the quarter was down 4.9% on a year-over-year basis. As a group, research analysts expect that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

M/I Homes Company 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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