Rafferty Asset Management LLC Increases Stock Position in M/I Homes, Inc. (NYSE:MHO)

Rafferty Asset Management LLC lifted its stake in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 50.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,396 shares of the construction company's stock after buying an additional 6,169 shares during the quarter. Rafferty Asset Management LLC owned about 0.07% of M/I Homes worth $2,446,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MHO. Arkadios Wealth Advisors lifted its position in M/I Homes by 4.2% in the fourth quarter. Arkadios Wealth Advisors now owns 2,226 shares of the construction company's stock valued at $296,000 after acquiring an additional 90 shares during the last quarter. Summit Investment Advisors Inc. increased its position in shares of M/I Homes by 3.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,787 shares of the construction company's stock worth $371,000 after purchasing an additional 98 shares in the last quarter. Bay Rivers Group increased its position in shares of M/I Homes by 2.7% during the fourth quarter. Bay Rivers Group now owns 4,911 shares of the construction company's stock worth $653,000 after purchasing an additional 128 shares in the last quarter. Axxcess Wealth Management LLC increased its position in shares of M/I Homes by 5.7% during the fourth quarter. Axxcess Wealth Management LLC now owns 2,437 shares of the construction company's stock worth $324,000 after purchasing an additional 131 shares in the last quarter. Finally, Nvest Financial LLC increased its position in shares of M/I Homes by 7.8% during the fourth quarter. Nvest Financial LLC now owns 1,822 shares of the construction company's stock worth $242,000 after purchasing an additional 132 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

M/I Homes Stock Performance

Shares of NYSE MHO traded down $0.07 during midday trading on Thursday, reaching $106.32. 271,663 shares of the company were exchanged, compared to its average volume of 284,791. The company has a current ratio of 7.65, a quick ratio of 1.93 and a debt-to-equity ratio of 0.33. M/I Homes, Inc. has a 1 year low of $100.22 and a 1 year high of $176.18. The stock has a fifty day simple moving average of $110.37 and a 200 day simple moving average of $128.15. The stock has a market cap of $2.85 billion, a P/E ratio of 5.39 and a beta of 1.75.

M/I Homes (NYSE:MHO - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The construction company reported $3.98 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.16 by ($0.18). M/I Homes had a return on equity of 20.20% and a net margin of 12.51%. The company had revenue of $976.09 million for the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the prior year, the business earned $4.78 EPS. The business's quarterly revenue was down 7.4% compared to the same quarter last year. On average, research analysts forecast that M/I Homes, Inc. will post 18.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MHO. Raymond James cut their target price on M/I Homes from $168.00 to $140.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, April 29th. Wall Street Zen cut M/I Homes from a "buy" rating to a "hold" rating in a research report on Friday, April 25th. Finally, Seaport Res Ptn upgraded M/I Homes from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th.

M/I Homes Company 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.