Panagora Asset Management Inc. Acquires 30,472 Shares of M/I Homes, Inc. (NYSE:MHO)

Panagora Asset Management Inc. grew its holdings in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 27.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 139,524 shares of the construction company's stock after purchasing an additional 30,472 shares during the period. Panagora Asset Management Inc. owned approximately 0.50% of M/I Homes worth $19,218,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Quadrant Capital Group LLC grew its holdings in shares of M/I Homes by 7.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,245 shares of the construction company's stock worth $171,000 after acquiring an additional 84 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in M/I Homes by 10.7% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 4,063 shares of the construction company's stock valued at $560,000 after buying an additional 394 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in M/I Homes during the 4th quarter valued at $683,000. USA Financial Formulas grew its holdings in M/I Homes by 578.1% during the 4th quarter. USA Financial Formulas now owns 217 shares of the construction company's stock valued at $30,000 after buying an additional 185 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in M/I Homes during the 4th quarter valued at $523,000. Institutional investors and hedge funds own 95.14% of the company's stock.

M/I Homes Trading Up 1.3 %

Shares of M/I Homes stock traded up $1.60 during trading hours on Friday, reaching $129.24. 230,463 shares of the company's stock were exchanged, compared to its average volume of 255,516. M/I Homes, Inc. has a 52-week low of $68.80 and a 52-week high of $140.73. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 7.44 and a beta of 2.16. The company has a fifty day moving average of $123.19 and a 200-day moving average of $120.93. The company has a current ratio of 6.91, a quick ratio of 1.99 and a debt-to-equity ratio of 0.35.

M/I Homes (NYSE:MHO - Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $4.78 earnings per share for the quarter, topping analysts' consensus estimates of $3.96 by $0.82. M/I Homes had a return on equity of 20.26% and a net margin of 12.27%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. Sell-side analysts forecast that M/I Homes, Inc. will post 18.18 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Ann Marie Hunker sold 2,461 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $128.51, for a total value of $316,263.11. Following the transaction, the insider now directly owns 2,342 shares of the company's stock, valued at approximately $300,970.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Ann Marie Hunker sold 2,461 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $128.51, for a total value of $316,263.11. Following the transaction, the insider now directly owns 2,342 shares of the company's stock, valued at approximately $300,970.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert H. Schottenstein sold 19,200 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $122.00, for a total value of $2,342,400.00. Following the completion of the transaction, the chief executive officer now directly owns 122,951 shares in the company, valued at $15,000,022. The disclosure for this sale can be found here. Insiders have sold a total of 30,661 shares of company stock valued at $3,756,663 in the last quarter. 3.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wedbush reiterated a "neutral" rating and set a $130.00 target price (up previously from $116.00) on shares of M/I Homes in a report on Wednesday, April 24th. StockNews.com upgraded M/I Homes from a "buy" rating to a "strong-buy" rating in a report on Friday, April 26th.

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.