M/I Homes, Inc. $MHO Stock Holdings Increased by Gradient Investments LLC

Key Points

• Gradient Investments LLC boosted its stake in M/I Homes by 689.4%, buying an additional 100,233 shares to hold 114,773 shares worth about $14.69 million (≈0.44% of the company).
• Company insiders have been net sellers—CEO Robert H. Schottenstein sold 20,000 shares and insiders sold 49,213 shares (~$7.12M) over the past three months, with corporate insiders now owning 3.70% of the stock.
• Analysts' consensus rating is a Moderate Buy on MHO, with an average price target of $161.67.

Gradient Investments LLC boosted its holdings in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 689.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 114,773 shares of the construction company's stock after purchasing an additional 100,233 shares during the period. Gradient Investments LLC owned approximately 0.44% of M/I Homes worth $14,685,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Royal Bank of Canada increased its holdings in shares of M/I Homes by 46.3% in the first quarter. Royal Bank of Canada now owns 29,774 shares of the construction company's stock valued at $3,400,000 after buying an additional 9,422 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of M/I Homes by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,868 shares of the construction company's stock worth $1,812,000 after acquiring an additional 703 shares during the last quarter. United Services Automobile Association acquired a new stake in shares of M/I Homes during the first quarter worth $205,000. Strs Ohio purchased a new stake in shares of M/I Homes during the first quarter valued at $114,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of M/I Homes by 10.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,515 shares of the construction company's stock valued at $170,000 after purchasing an additional 146 shares during the period. Institutional investors and hedge funds own 95.14% of the company's stock.

Insider Activity at M/I Homes

In other news, CEO Robert H. Schottenstein sold 20,000 shares of the business's stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $144.47, for a total transaction of $2,889,400.00. Following the transaction, the chief executive officer directly owned 313,874 shares in the company, valued at $45,345,376.78. The trade was a 5.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Susan E. Krohne sold 5,000 shares of the company's stock in a transaction on Friday, January 30th. The stock was sold at an average price of $134.28, for a total transaction 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 49,213 shares of company stock valued at $7,115,268. Corporate insiders own 3.70% of the company's stock.

Analyst Ratings Changes

MHO has been the topic of several recent analyst reports. Weiss Ratings restated a "hold (c+)" rating on shares of M/I Homes in a report on Thursday, January 22nd. Citigroup reissued a "market outperform" rating on shares of M/I Homes in a research report on Friday, January 30th. Citizens Jmp started coverage on shares of M/I Homes in a report on Wednesday, January 7th. They set a "market outperform" rating and a $165.00 price target on the stock. Oppenheimer set a $165.00 price target on shares of M/I Homes in a report on Friday, January 30th. Finally, Zacks Research lowered shares of M/I Homes from a "hold" rating to a "strong sell" rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, M/I Homes currently has an average rating of "Moderate Buy" and a consensus target price of $161.67.

M/I Homes Stock Up 2.5%

Shares of M/I Homes stock opened at $123.35 on Tuesday. The stock has a 50-day moving average price of $137.04 and a 200 day moving average price of $136.10. The company has a market cap of $3.18 billion, a P/E ratio of 8.39 and a beta of 1.77. The company has a current ratio of 8.12, a quick ratio of 1.86 and a debt-to-equity ratio of 0.31. M/I Homes, Inc. has a 1 year low of $100.22 and a 1 year high of $158.92.

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