Insider Selling: M/I Homes (NYSE:MHO) CEO Sells $2,889,400.00 in Stock

M/I Homes, Inc. (NYSE:MHO) CEO Robert Schottenstein sold 20,000 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $144.47, for a total value of $2,889,400.00. Following the sale, the chief executive officer directly owned 313,874 shares in the company, valued at approximately $45,345,376.78. The trade was a 5.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

M/I Homes Trading Up 1.9%

Shares of MHO stock opened at $149.66 on Friday. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 10.17 and a beta of 1.77. The company has a current ratio of 7.54, a quick ratio of 1.72 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $134.36 and a 200 day moving average price of $136.50. M/I Homes, Inc. has a twelve month low of $100.22 and a twelve month high of $158.92.

M/I Homes (NYSE:MHO) last issued its quarterly earnings results on Wednesday, January 28th. The construction company reported $3.91 EPS for the quarter, topping analysts’ consensus estimates of $3.88 by $0.03. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. M/I Homes had a net margin of 9.12% and a return on equity of 14.50%. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.71 earnings per share. Research analysts forecast that M/I Homes, Inc. will post 18.44 earnings per share for the current fiscal year.

M/I Homes announced that its board has initiated a stock repurchase program on Wednesday, November 12th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the construction company to buy up to 7.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MHO shares. Weiss Ratings reissued a “hold (c+)” rating on shares of M/I Homes in a research note on Thursday, January 22nd. Zacks Research lowered shares of M/I Homes from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Oppenheimer set a $165.00 target price on shares of M/I Homes in a research report on Friday, January 30th. Citizens Jmp initiated coverage on shares of M/I Homes in a research report on Wednesday, January 7th. They set a “market outperform” rating and a $165.00 price target for the company. Finally, Citigroup reiterated a “market outperform” rating on shares of M/I Homes in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, M/I Homes currently has an average rating of “Moderate Buy” and an average price target of $161.67.

Institutional Investors Weigh In On M/I Homes

Several institutional investors have recently bought and sold shares of MHO. Salomon & Ludwin LLC purchased a new position in shares of M/I Homes in the 3rd quarter valued at $28,000. Hilton Head Capital Partners LLC purchased a new position in M/I Homes in the fourth quarter valued at about $28,000. Jones Financial Companies Lllp lifted its stake in shares of M/I Homes by 73.1% during the third quarter. Jones Financial Companies Lllp now owns 206 shares of the construction company’s stock worth $30,000 after purchasing an additional 87 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of M/I Homes by 90.6% in the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock worth $32,000 after buying an additional 135 shares during the period. Finally, Private Trust Co. NA acquired a new stake in shares of M/I Homes in the third quarter valued at about $38,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

About M/I Homes

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.