Voss Capital LP Purchases Shares of 42,375 M/I Homes, Inc. $MHO

Key Points

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Voss Capital LP acquired a new position in M/I Homes, Inc. (NYSE:MHO - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 42,375 shares of the construction company's stock, valued at approximately $4,838,000. Voss Capital LP owned about 0.16% of M/I Homes at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Xponance Inc. lifted its stake in shares of M/I Homes by 5.0% in the first quarter. Xponance Inc. now owns 2,019 shares of the construction company's stock worth $231,000 after buying an additional 97 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of M/I Homes by 38.3% in the first quarter. Fifth Third Bancorp now owns 379 shares of the construction company's stock worth $43,000 after buying an additional 105 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of M/I Homes by 1.8% in the first quarter. SummerHaven Investment Management LLC now owns 6,443 shares of the construction company's stock worth $736,000 after buying an additional 114 shares during the last quarter. Journey Strategic Wealth LLC lifted its stake in shares of M/I Homes by 4.8% in the first quarter. Journey Strategic Wealth LLC now owns 2,705 shares of the construction company's stock worth $309,000 after buying an additional 125 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of M/I Homes by 7.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,124 shares of the construction company's stock worth $282,000 after buying an additional 155 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Raymond James Financial reduced their price objective on shares of M/I Homes from $168.00 to $140.00 and set a "strong-buy" rating for the company in a research note on Tuesday, April 29th. Wall Street Zen cut shares of M/I Homes from a "buy" rating to a "hold" rating in a research note on Friday, April 25th. Zelman & Associates upgraded shares of M/I Homes from a "neutral" rating to an "outperform" rating in a research note on Tuesday, August 12th. Finally, Zacks Research upgraded shares of M/I Homes to a "strong sell" rating in a research note on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, M/I Homes has an average rating of "Buy" and an average target price of $162.50.

M/I Homes Stock Performance

NYSE:MHO traded up $8.1930 during trading hours on Friday, hitting $146.9630. 372,000 shares of the company traded hands, compared to its average volume of 304,852. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of 8.07 and a beta of 1.60. M/I Homes, Inc. has a twelve month low of $100.22 and a twelve month high of $176.18. The firm has a 50-day moving average of $121.90 and a 200 day moving average of $115.57. The company has a current ratio of 7.21, a quick ratio of 1.78 and a debt-to-equity ratio of 0.32.

M/I Homes (NYSE:MHO - Get Free Report) last released its earnings results on Wednesday, July 23rd. The construction company reported $4.42 EPS for the quarter, missing the consensus estimate of $4.43 by ($0.01). The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.12 billion. M/I Homes had a net margin of 11.40% and a return on equity of 17.23%. The company's quarterly revenue was up 4.8% on a year-over-year basis. On average, analysts forecast that M/I Homes, Inc. will post 18.44 EPS for the current 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.