Insider Selling: M/I Homes (NYSE:MHO) CFO Sells 10,000 Shares

Key Points

• M/I Homes CFO Phillip Creek sold 10,000 shares at an average price of $151.28, generating $1.51 million and reducing his direct holdings by 24.44% to 30,918 shares.
• M/I Homes shares fell 2.6% to $146.63 during Thursday trading. The stock has a $3.71 billion market capitalization and trades near the middle of its 52-week range.
• The company slightly exceeded quarterly earnings and revenue expectations, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $164.25; institutional investors own 95.14% of the stock.

M/I Homes, Inc. (NYSE:MHO - Get Free Report) CFO Phillip Creek sold 10,000 shares of the business's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $151.28, for a total transaction of $1,512,800.00. Following the transaction, the chief financial officer directly owned 30,918 shares in the company, valued at approximately $4,677,275.04. The trade was a 24.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

M/I Homes Trading Down 2.6%

M/I Homes stock traded down $3.91 during midday trading on Thursday, hitting $146.63. 154,326 shares of the stock were exchanged, compared to its average volume of 247,538. M/I Homes, Inc. has a fifty-two week low of $116.78 and a fifty-two week high of $163.66. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 12.34 and a beta of 1.60. The stock's 50-day simple moving average is $147.50 and its 200 day simple moving average is $137.37. The company has a current ratio of 7.65, a quick ratio of 1.59 and a debt-to-equity ratio of 0.29.

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

Analysts Set New Price Targets

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

Institutional Trading of M/I Homes

Hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in shares of M/I Homes by 46.3% during the 1st quarter. Royal Bank of Canada now owns 29,774 shares of the construction company's stock worth $3,400,000 after purchasing an additional 9,422 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in M/I Homes by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,868 shares of the construction company's stock valued at $1,812,000 after purchasing an additional 703 shares during the last quarter. United Services Automobile Association purchased a new position in shares of M/I Homes in the 1st quarter valued at $205,000. Strs Ohio purchased a new position in shares of M/I Homes during the first quarter worth about $114,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of M/I Homes by 90.6% during the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company's stock worth $32,000 after purchasing an additional 135 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

About M/I Homes

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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