Sei Investments Co. Reduces Stake in M/I Homes, Inc. $MHO

Sei Investments Co. reduced its holdings in M/I Homes, Inc. (NYSE:MHO - Free Report) by 54.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,180 shares of the construction company's stock after selling 12,213 shares during the quarter. Sei Investments Co.'s holdings in M/I Homes were worth $1,247,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Millennium Management LLC boosted its holdings in M/I Homes by 107.5% in the fourth quarter. Millennium Management LLC now owns 434,484 shares of the construction company's stock valued at $55,592,000 after acquiring an additional 225,120 shares in the last quarter. Invesco Ltd. lifted its position in shares of M/I Homes by 116.4% in the 3rd quarter. Invesco Ltd. now owns 300,912 shares of the construction company's stock worth $43,464,000 after purchasing an additional 161,881 shares during the period. Squarepoint Ops LLC boosted its stake in shares of M/I Homes by 1,806.4% during the 4th quarter. Squarepoint Ops LLC now owns 114,134 shares of the construction company's stock valued at $14,603,000 after purchasing an additional 108,147 shares in the last quarter. Donald Smith & CO. Inc. increased its position in shares of M/I Homes by 5.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,463,340 shares of the construction company's stock valued at $187,234,000 after buying an additional 82,090 shares during the period. Finally, Systematic Financial Management LP purchased a new position in shares of M/I Homes during the fourth quarter valued at about $9,968,000. Institutional investors own 95.14% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Weiss Ratings restated a "hold (c)" rating on shares of M/I Homes in a report on Friday, May 15th. New Street Research set a $172.00 target price on M/I Homes in a research note on Tuesday, August 4th. Zelman & Associates cut M/I Homes from an "outperform" rating to a "neutral" rating in a research note on Tuesday, July 7th. Zacks Research upgraded M/I Homes from a "strong sell" rating to a "hold" rating in a report on Friday, June 26th. Finally, Freedom Capital upgraded shares of M/I Homes to a "strong-buy" rating in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $164.25.

Insider Buying and Selling at M/I Homes

In other news, CFO Phillip G. Creek sold 20,000 shares of M/I Homes stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $149.56, for a total value of $2,991,200.00. Following the completion of the transaction, the chief financial officer owned 30,918 shares of the company's stock, valued at $4,624,096.08. The trade was a 39.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.60% of the stock is owned by insiders.

M/I Homes Stock Performance

M/I Homes stock opened at $152.05 on Wednesday. The company has a quick ratio of 1.69, a current ratio of 7.65 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $3.84 billion, a P/E ratio of 12.80 and a beta of 1.60. The stock's 50 day moving average is $148.67 and its 200 day moving average is $137.73. M/I Homes, Inc. has a twelve month low of $116.78 and a twelve month high of $163.66.

M/I Homes (NYSE:MHO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.14 earnings per share for the quarter, beating analysts' consensus estimates of $3.13 by $0.01. M/I Homes had a return on equity of 11.53% and a net margin of 7.44%.The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the company earned $4.42 EPS. The firm's revenue for the quarter was down 6.0% on a year-over-year basis. On average, equities research analysts predict that M/I Homes, Inc. will post 12.62 earnings per share 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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