Key Points
- CFO Phillip Creek sold 10,000 M/I Homes shares at an average price of $151.28, generating $1.51 million. His remaining stake fell by 24.44% to 30,918 shares.
- M/I Homes reported quarterly EPS of $3.14, narrowly beating estimates, while revenue reached $1.06 billion. However, revenue declined 6% year over year and EPS fell from $4.42 in the prior-year quarter.
- Institutional investors own 95.14% of the company, and analysts maintain a “Moderate Buy” consensus with an average price target of $164.25, above the stock’s recent $146.63 opening price.
M/I Homes, Inc. (NYSE:MHO - Get Free Report) CFO Phillip Creek sold 10,000 shares of the company's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $151.28, for a total value of $1,512,800.00. Following the sale, the chief financial officer owned 30,918 shares of the company's stock, valued at approximately $4,677,275.04. This represents a 24.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
M/I Homes Stock Performance
NYSE:MHO opened at $146.63 on Friday. M/I Homes, Inc. has a twelve month low of $116.78 and a twelve month high of $163.66. The company has a quick ratio of 1.59, a current ratio of 7.65 and a debt-to-equity ratio of 0.29. The stock's 50-day simple moving average is $147.78 and its 200 day simple moving average is $137.43. The firm has a market capitalization of $3.71 billion, a PE ratio of 12.34 and a beta of 1.60.
M/I Homes (NYSE:MHO - Get Free Report) last issued its earnings results on Wednesday, July 29th. The construction company reported $3.14 EPS for the quarter, topping the consensus estimate of $3.13 by $0.01. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. M/I Homes had a return on equity of 11.53% and a net margin of 7.44%.The business's quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.42 earnings per share. On average, analysts anticipate that M/I Homes, Inc. will post 12.62 EPS for the current fiscal year.
Institutional Trading of M/I Homes
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capelight Capital Asset Management LP acquired a new stake in M/I Homes in the fourth quarter valued at $7,037,000. SG Americas Securities LLC raised its position in M/I Homes by 148.7% during the 4th quarter. SG Americas Securities LLC now owns 7,995 shares of the construction company's stock worth $1,023,000 after purchasing an additional 4,780 shares during the last quarter. Verity Asset Management Inc. acquired a new position in M/I Homes during the 4th quarter worth about $1,074,000. First Eagle Investment Management LLC lifted its holdings in M/I Homes by 110.1% during the 4th quarter. First Eagle Investment Management LLC now owns 60,100 shares of the construction company's stock worth $7,690,000 after buying an additional 31,495 shares during the period. Finally, Militia Capital Management LLC acquired a new position in M/I Homes during the 1st quarter worth about $2,816,000. 95.14% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the stock. Zacks Research upgraded shares of M/I Homes from a "strong sell" rating to a "hold" rating in a research report on Friday, June 26th. Zelman & Associates lowered shares of M/I Homes from an "outperform" rating to a "neutral" rating in a research report on Tuesday, July 7th. Freedom Capital raised shares of M/I Homes to a "strong-buy" rating in a research note on Wednesday, June 24th. Weiss Ratings reiterated a "hold (c)" rating on shares of M/I Homes in a report on Friday, May 15th. Finally, New Street Research set a $172.00 price target on M/I Homes in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $164.25.
Read Our Latest Stock Analysis on MHO
About M/I Homes
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
