SummitTX Capital L.P. Buys 6,816 Shares of M/I Homes, Inc. $MHO

SummitTX Capital L.P. lifted its stake in shares of M/I Homes, Inc. (NYSE:MHO) by 19.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,574 shares of the construction company’s stock after purchasing an additional 6,816 shares during the quarter. SummitTX Capital L.P. owned about 0.17% of M/I Homes worth $5,213,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Intech Investment Management LLC raised its stake in M/I Homes by 0.5% during the 4th quarter. Intech Investment Management LLC now owns 14,883 shares of the construction company’s stock worth $1,904,000 after buying an additional 72 shares during the period. 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 acquiring an additional 76 shares in the last quarter. WealthCollab LLC grew its stake in M/I Homes by 16.5% in the second quarter. WealthCollab LLC now owns 614 shares of the construction company’s stock valued at $69,000 after acquiring an additional 87 shares during the period. Private Advisor Group LLC grew its stake in M/I Homes by 3.0% in the third quarter. Private Advisor Group LLC now owns 3,027 shares of the construction company’s stock valued at $437,000 after acquiring an additional 89 shares during the period. Finally, State of Alaska Department of Revenue increased its holdings in shares of M/I Homes by 0.7% during the fourth quarter. State of Alaska Department of Revenue now owns 14,839 shares of the construction company’s stock valued at $1,897,000 after acquiring an additional 96 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MHO. Seaport Research Partners reiterated a “neutral” rating on shares of M/I Homes in a report on Tuesday, April 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of M/I Homes in a research note on Friday, May 15th. Zacks Research raised shares of M/I Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. Freedom Capital raised shares of M/I Homes to a “strong-buy” rating in a research report on Wednesday, June 24th. Finally, Zelman & Associates downgraded M/I Homes from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.67.

M/I Homes Price Performance

Shares of NYSE MHO opened at $148.75 on Tuesday. The company has a market capitalization of $3.81 billion, a PE ratio of 11.20 and a beta of 1.60. The company has a quick ratio of 1.95, a current ratio of 8.40 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average price is $144.56 and its 200-day moving average price is $136.66. M/I Homes, Inc. has a twelve month low of $116.78 and a twelve month high of $163.66.

M/I Homes Company Profile

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.