Panagora Asset Management Inc. Purchases New Holdings in M/I Homes, Inc. $MHO

Key Points

• Panagora Asset Management Inc. purchased 23,135 shares of M/I Homes, valued at approximately $2.64 million, representing a 0.09% ownership stake.
• Analysts have mixed ratings for M/I Homes, with two analysts rating it as a Strong Buy and others giving a mix of Buy and Sell ratings, resulting in an average target price of $162.50.
• M/I Homes reported earnings per share (EPS) of $4.42, slightly below the consensus estimate, with revenue up 4.8% compared to the previous year.

Panagora Asset Management Inc. bought a new position in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 23,135 shares of the construction company's stock, valued at approximately $2,642,000. Panagora Asset Management Inc. owned approximately 0.09% of M/I Homes at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Donald Smith & CO. Inc. grew its holdings in M/I Homes by 10.2% during the 1st quarter. Donald Smith & CO. Inc. now owns 1,282,967 shares of the construction company's stock worth $146,489,000 after acquiring an additional 118,778 shares during the period. Northern Trust Corp grew its position in shares of M/I Homes by 8.4% during the 4th quarter. Northern Trust Corp now owns 347,000 shares of the construction company's stock worth $46,134,000 after buying an additional 26,820 shares during the period. Royce & Associates LP raised its position in shares of M/I Homes by 14.4% in the 1st quarter. Royce & Associates LP now owns 314,362 shares of the construction company's stock valued at $35,894,000 after acquiring an additional 39,491 shares during the period. Millennium Management LLC boosted its stake in M/I Homes by 85.5% during the 4th quarter. Millennium Management LLC now owns 238,826 shares of the construction company's stock worth $31,752,000 after acquiring an additional 110,086 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in M/I Homes by 77.5% during the first 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 period. 95.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Zelman & Associates raised shares of M/I Homes from a "neutral" rating to an "outperform" rating in a research report on Tuesday, August 12th. Zacks Research upgraded M/I Homes to a "strong sell" rating in a report on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, M/I Homes presently has an average rating of "Buy" and an average price target of $162.50.

M/I Homes Stock Up 2.0%

NYSE MHO traded up $3.12 on Friday, reaching $156.97. The company had a trading volume of 277,603 shares, compared to its average volume of 261,192. The company's fifty day moving average is $129.91 and its 200-day moving average is $117.64. The firm has a market capitalization of $4.20 billion, a price-to-earnings ratio of 8.62 and a beta of 1.66. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.78 and a current ratio of 7.21. M/I Homes, Inc. has a 1-year low of $100.22 and a 1-year high of $176.18.

M/I Homes (NYSE:MHO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The construction company reported $4.42 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 firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.12 billion. The business's revenue for the quarter was up 4.8% 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.

M/I Homes 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.