Trexquant Investment LP Invests $1.64 Million in M/I Homes, Inc. $MHO

Key Points

• Trexquant Investment LP acquired 14,316 shares of M/I Homes, Inc. for approximately $1,635,000, representing about 0.05% of the company's total stock.
• Multiple institutional investors have increased their holdings in M/I Homes, with Principal Financial Group raising its stake by 2.6% and GAMMA Investing LLC by 57.6% during the first quarter.
• M/I Homes reported a net margin of 11.40% and earnings per share of $4.42, slightly missing analyst expectations, but had revenue of $1.16 billion, surpassing estimates.

Trexquant Investment LP acquired a new position in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,316 shares of the construction company's stock, valued at approximately $1,635,000. Trexquant Investment LP owned approximately 0.05% of M/I Homes 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. Donald Smith & CO. Inc. lifted its stake in M/I Homes by 10.2% during the first quarter. Donald Smith & CO. Inc. now owns 1,282,967 shares of the construction company's stock worth $146,489,000 after purchasing an additional 118,778 shares during the period. Millennium Management LLC lifted its position in M/I Homes by 85.5% in the 4th quarter. Millennium Management LLC now owns 238,826 shares of the construction company's stock valued at $31,752,000 after acquiring an additional 110,086 shares in the last quarter. GAMMA Investing LLC lifted its position in M/I Homes by 17,898.5% in the 1st quarter. GAMMA Investing LLC now owns 104,931 shares of the construction company's stock valued at $11,981,000 after acquiring an additional 104,348 shares in the last quarter. Nuveen LLC bought a new stake in M/I Homes during the 1st quarter worth about $11,829,000. Finally, Allianz Asset Management GmbH increased its stake in shares of M/I Homes by 77.5% during the 1st quarter. Allianz Asset Management GmbH now owns 229,065 shares of the construction company's stock worth $26,155,000 after purchasing an additional 100,029 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

M/I Homes Stock Up 3.7%

Shares of NYSE:MHO traded up $5.56 during midday trading on Thursday, reaching $156.96. The company's stock had a trading volume of 321,995 shares, compared to its average volume of 247,392. The firm has a 50 day moving average of $133.04 and a 200-day moving average of $118.67. The firm has a market capitalization of $4.20 billion, a P/E ratio of 8.62 and a beta of 1.66. The company has a quick ratio of 1.78, a current ratio of 7.21 and a debt-to-equity ratio of 0.32. M/I Homes, Inc. has a 12-month low of $100.22 and a 12-month high of $176.18.

M/I Homes (NYSE:MHO - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The construction company reported $4.42 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.12 billion. The business's quarterly revenue was up 4.8% on a year-over-year basis. On average, research analysts anticipate that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

Analysts Set New Price Targets

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

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.