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 business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $149.56, for a total value of $2,991,200.00. Following the transaction, the chief financial officer directly owned 30,918 shares of the company’s stock, valued at $4,624,096.08. This trade represents a 39.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

M/I Homes Stock Up 3.1%

Shares of NYSE MHO opened at $151.40 on Friday. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 12.74 and a beta of 1.60. The company has a current ratio of 7.65, a quick ratio of 1.59 and a debt-to-equity ratio of 0.29. M/I Homes, Inc. has a 12 month low of $116.78 and a 12 month high of $163.66. The stock has a 50-day moving average price of $148.17 and a two-hundred day moving average price of $137.53.

M/I Homes (NYSE:MHO) last announced its quarterly earnings results on Wednesday, July 29th. The construction company reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.13 by $0.01. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm posted $4.42 EPS. As a group, analysts forecast that M/I Homes, Inc. will post 12.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Hilton Head Capital Partners LLC purchased a new stake in M/I Homes in the 4th quarter valued at $28,000. EverSource Wealth Advisors LLC raised its holdings 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 valued at $32,000 after purchasing an additional 135 shares during the last quarter. Langley Wealth Management LLC bought a new position in shares of M/I Homes during the second quarter valued at about $45,000. Aster Capital Management DIFC Ltd purchased a new position in M/I Homes during the fourth quarter worth about $49,000. Finally, Caitong International Asset Management Co. Ltd grew its position in M/I Homes by 1,090.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 500 shares of the construction company’s stock worth $64,000 after purchasing an additional 458 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Analyst Ratings Changes

MHO has been the subject of several research analyst reports. Zelman & Associates downgraded shares of M/I Homes from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 7th. Freedom Capital raised M/I Homes to a “strong-buy” rating in a report on Wednesday, June 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of M/I Homes in a research report on Friday, May 15th. New Street Research set a $172.00 price target on M/I Homes in a report on Tuesday. Finally, Zacks Research raised M/I Homes from a “strong sell” rating to a “hold” rating in a research note on Friday, June 26th. Two 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $164.25.

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.