Tudor Investment Corp ET AL Reduces Stock Position in M/I Homes, Inc. $MHO

Key Points

• Tudor Investment Corp cut its stake in M/I Homes by 92% in Q3, selling 34,370 shares and leaving 2,992 shares worth $432,000, while insiders have sold a total of 49,213 shares (~$7.12M) in the last three months (insiders now own 3.50%).
• Large institutional activity includes Junto Capital buying a new stake (~$35.9M) and Invesco increasing to 300,912 shares (~$43.46M), leaving institutional ownership at 95.14%; MHO trades with a market cap of $3.17B, a P/E of 8.37, recently beat quarterly EPS ($3.91 vs. $3.88) and holds a consensus target of $161.67 (Moderate Buy).

Tudor Investment Corp ET AL cut its stake in M/I Homes, Inc. (NYSE:MHO - Free Report) by 92.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,992 shares of the construction company's stock after selling 34,370 shares during the quarter. Tudor Investment Corp ET AL's holdings in M/I Homes were worth $432,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in MHO. Junto Capital Management LP bought a new stake in M/I Homes during the third quarter valued at about $35,871,000. Invesco Ltd. increased its holdings in 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 acquiring an additional 161,881 shares in the last quarter. Donald Smith & CO. Inc. increased its holdings in M/I Homes by 9.8% in the 2nd quarter. Donald Smith & CO. Inc. now owns 1,408,390 shares of the construction company's stock worth $157,909,000 after acquiring an additional 125,423 shares in the last quarter. Long Pond Capital LP bought a new stake in M/I Homes during the 2nd quarter worth approximately $13,694,000. Finally, Cramer Rosenthal Mcglynn LLC bought a new stake in M/I Homes during the 3rd quarter worth approximately $13,315,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

M/I Homes Trading Up 0.5%

MHO stock opened at $123.06 on Thursday. M/I Homes, Inc. has a 12-month low of $100.22 and a 12-month high of $158.92. The business's 50-day moving average is $134.80 and its 200 day moving average is $134.58. The company has a current ratio of 8.12, a quick ratio of 1.86 and a debt-to-equity ratio of 0.31. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 8.37 and a beta of 1.76.

M/I Homes (NYSE:MHO - Get Free Report) last released its earnings results on Wednesday, January 28th. The construction company reported $3.91 earnings per share for the quarter, beating the consensus estimate of $3.88 by $0.03. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.16 billion. M/I Homes had a return on equity of 14.50% and a net margin of 9.12%.The business's quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $4.71 earnings per share. On average, sell-side analysts anticipate that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Citizens Jmp began coverage on M/I Homes in a research report on Wednesday, January 7th. They set a "market outperform" rating and a $165.00 price objective for the company. Oppenheimer set a $165.00 price objective on shares of M/I Homes in a report on Friday, January 30th. Zacks Research cut M/I Homes from a "hold" rating to a "strong sell" rating in a research note on Friday, January 30th. Weiss Ratings reiterated a "hold (c+)" rating on shares of M/I Homes in a research note on Thursday, January 22nd. Finally, Citigroup reissued a "market outperform" rating on shares of M/I Homes in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $161.67.

Insider Transactions at M/I Homes

In related news, insider Susan E. Krohne sold 5,000 shares of the stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $134.28, for a total transaction of $671,400.00. Following the completion of the transaction, the insider owned 6,167 shares of the company's stock, valued at approximately $828,104.76. This trade represents a 44.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Phillip G. Creek sold 8,616 shares of M/I Homes stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $146.80, for a total transaction of $1,264,828.80. Following the completion of the sale, the chief financial officer owned 45,815 shares of the company's stock, valued at $6,725,642. This trade represents a 15.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 49,213 shares of company stock worth $7,115,268. 3.50% of the stock is currently owned by insiders.

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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