Key Points
- CFO Phillip Creek sold 20,000 M/I Homes shares at an average price of $126.28, generating approximately $2.53 million. The sale reduced his direct ownership by 39.28% to 30,918 shares.
- M/I Homes reported quarterly EPS of $2.70, missing the $3.25 consensus estimate, while revenue of $1.08 billion also fell short of forecasts and declined 1.9% year over year.
- Analysts maintain a consensus “Moderate Buy” rating with a $164.40 price target, although recent recommendations have been mixed. Institutional investors own approximately 95.14% of the company’s stock.
M/I Homes, Inc. (NYSE:MHO - Get Free Report) CFO Phillip Creek sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $126.28, for a total value of $2,525,600.00. Following the completion of the sale, the chief financial officer directly owned 30,918 shares of the company's stock, valued at approximately $3,904,325.04. The trade was a 39.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
M/I Homes Stock Up 0.1%
MHO stock opened at $128.44 on Friday. The company has a current ratio of 7.54, a quick ratio of 1.36 and a debt-to-equity ratio of 0.29. The business's 50 day simple moving average is $136.28 and its 200 day simple moving average is $137.76. M/I Homes, Inc. has a 1-year low of $113.40 and a 1-year high of $163.66. The firm has a market capitalization of $3.21 billion, a PE ratio of 12.21 and a beta of 1.60.
M/I Homes (NYSE:MHO - Get Free Report) last posted its earnings results on Wednesday, October 21st. The construction company reported $2.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.25 by ($0.55). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.11 billion. M/I Homes had a return on equity of 10.12% and a net margin of 6.59%. The business's quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.92 EPS. As a group, research analysts anticipate that M/I Homes, Inc. will post 10.76 EPS for the current year.
Institutional Trading of M/I Homes
Several large investors have recently modified their holdings of MHO. Corient Private Wealth LLC boosted its holdings in M/I Homes by 2.0% in the fourth quarter. Corient Private Wealth LLC now owns 3,891 shares of the construction company's stock worth $498,000 after purchasing an additional 76 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of M/I Homes by 33.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 391 shares of the construction company's stock valued at $48,000 after buying an additional 97 shares during the period. GAMMA Investing LLC lifted its holdings in shares of M/I Homes by 4.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,222 shares of the construction company's stock valued at $300,000 after buying an additional 101 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of M/I Homes in the 2nd quarter worth $26,000. Finally, SummerHaven Investment Management LLC boosted its stake in shares of M/I Homes by 3.1% in the 3rd quarter. SummerHaven Investment Management LLC now owns 6,329 shares of the construction company's stock worth $855,000 after buying an additional 188 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on MHO shares. Zelman & Associates lowered M/I Homes from an "outperform" rating to a "neutral" rating in a research note on Tuesday, July 7th. New Street Research set a $172.00 target price on M/I Homes in a report on Tuesday, August 4th. Freedom Broker reduced their target price on shares of M/I Homes from $172.00 to $155.00 and set a "buy" rating for the company in a research report on Friday, October 23rd. Zacks Research cut shares of M/I Homes from a "hold" rating to a "strong sell" rating in a research report on Wednesday, September 9th. Finally, Citigroup restated a "market outperform" rating on shares of M/I Homes in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, M/I Homes currently has a consensus rating of "Moderate Buy" and a consensus target price of $164.40.
Read Our Latest Stock Report on MHO
About M/I Homes
(
Get Free Report)
M/I Homes, Inc is a residential construction company that builds and sells single-family homes for a range of buyers, including first-time, move-up and luxury-home purchasers. Its operations include land acquisition and development, home design, construction, marketing and sales, with communities offered in suburban and metropolitan markets.
The company also provides services that support the homebuying process, including mortgage financing through M/I Financial and title-related services through its affiliated operations.
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