Phillip Creek Sells 20,000 Shares of M/I Homes (NYSE:MHO) Stock

M/I Homes, Inc. (NYSE:MHO) CFO Phillip Creek sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $149.56, for a total transaction of $2,991,200.00. Following the sale, the chief financial officer directly owned 30,918 shares in the company, valued at approximately $4,624,096.08. The trade was a 39.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

M/I Homes Stock Performance

MHO traded down $3.91 during mid-day trading on Thursday, reaching $146.63. 154,326 shares of the company traded hands, compared to its average volume of 247,538. The company’s fifty day moving average price is $147.50 and its 200-day moving average price is $137.37. The stock has a market capitalization of $3.71 billion, a P/E ratio of 12.34 and a beta of 1.60. The company has a quick ratio of 1.59, a current ratio of 7.65 and a debt-to-equity ratio of 0.29. M/I Homes, Inc. has a 52-week low of $116.78 and a 52-week high of $163.66.

M/I Homes (NYSE:MHO) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.13 by $0.01. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. M/I Homes had a net margin of 7.44% and a return on equity of 11.53%. The firm’s revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $4.42 earnings per share. On average, sell-side analysts expect that M/I Homes, Inc. will post 12.62 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on MHO. Freedom Capital raised M/I Homes to a “strong-buy” rating in a report on Wednesday, June 24th. Zelman & Associates lowered shares of M/I Homes from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 7th. Zacks Research upgraded shares of M/I Homes from a “strong sell” rating to a “hold” rating in a research note on Friday, June 26th. Weiss Ratings reissued 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 target price on M/I Homes in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, M/I Homes has a consensus rating of “Moderate Buy” and a consensus price target of $164.25.

Institutional Trading of M/I Homes

Several hedge funds have recently made changes to their positions in MHO. Royal Bank of Canada increased its stake in M/I Homes by 46.3% during the first quarter. Royal Bank of Canada now owns 29,774 shares of the construction company’s stock worth $3,400,000 after acquiring an additional 9,422 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of M/I Homes by 4.6% in the 1st 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 worth approximately $205,000. Strs Ohio purchased a new position in shares of M/I Homes in the 1st quarter worth approximately $114,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of M/I Homes by 90.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock valued at $32,000 after purchasing an additional 135 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

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.