Readystate Asset Management LP Buys New Stake in M/I Homes, Inc. $MHO

Key Points

• Readystate Asset Management LP bought 16,674 shares of M/I Homes in the first quarter, valued at approximately $2.04 million and representing about 0.07% of the company.
• Institutional investors own approximately 95.14% of M/I Homes, with several other funds recently initiating or increasing positions.
• MHO was trading at $151.81, near its 52-week high, while analysts maintained a “Moderate Buy” consensus with an average price target of $161.67.

Readystate Asset Management LP purchased a new position in M/I Homes, Inc. (NYSE:MHO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,674 shares of the construction company's stock, valued at approximately $2,042,000. Readystate Asset Management LP owned approximately 0.07% of M/I Homes as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC acquired a new stake in M/I Homes during the fourth quarter valued at approximately $28,000. EverSource Wealth Advisors LLC raised its holdings in shares of M/I Homes by 90.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company's stock worth $32,000 after buying an additional 135 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of M/I Homes in the 4th quarter worth approximately $49,000. Caitong International Asset Management Co. Ltd lifted its position in shares of M/I Homes by 1,090.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 500 shares of the construction company's stock worth $64,000 after buying an additional 458 shares during the period. Finally, WealthCollab LLC lifted its position in shares of M/I Homes by 16.5% during the 2nd quarter. WealthCollab LLC now owns 614 shares of the construction company's stock worth $69,000 after buying an additional 87 shares during the period. Institutional investors own 95.14% of the company's stock.

M/I Homes Stock Performance

NYSE:MHO opened at $151.81 on Wednesday. M/I Homes, Inc. has a 1 year low of $116.78 and a 1 year high of $163.66. The firm has a 50 day moving average of $145.14 and a 200-day moving average of $136.84. The company has a current ratio of 8.40, a quick ratio of 1.95 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $3.88 billion, a P/E ratio of 11.43 and a beta of 1.60.

Wall Street Analyst Weigh In

MHO has been the topic of a number of analyst reports. Zacks Research upgraded M/I Homes from a "strong sell" rating to a "hold" rating in a research report on Friday, June 26th. Freedom Capital raised M/I Homes to a "strong-buy" rating in a report on Wednesday, June 24th. Seaport Research Partners reissued a "neutral" rating on shares of M/I Homes in a report on Tuesday, April 7th. Weiss Ratings restated a "hold (c)" rating on shares of M/I Homes in a research note on Friday, May 15th. Finally, Zelman & Associates lowered shares of M/I Homes from an "outperform" rating to a "neutral" rating in a report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $161.67.

M/I Homes 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.

Want to see what other hedge funds are holding MHO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for M/I Homes, Inc. (NYSE:MHO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.