Insider Selling: M/I Homes (NYSE:MHO) CFO Sells $2,525,600.00 in Stock

M/I Homes, Inc. (NYSE:MHO) CFO Phillip Creek sold 20,000 shares of the stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $126.28, for a total value of $2,525,600.00. Following the transaction, the chief financial officer owned 30,918 shares of the company’s stock, valued at approximately $3,904,325.04. This represents a 39.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

M/I Homes Trading Up 0.1%

Shares of NYSE:MHO traded up $0.10 during mid-day trading on Friday, reaching $128.44. 224,961 shares of the company were exchanged, compared to its average volume of 248,464. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.54 and a quick ratio of 1.36. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 12.21 and a beta of 1.60. The firm’s 50-day simple moving average is $136.71 and its 200 day simple moving average is $137.81. M/I Homes, Inc. has a 1 year low of $113.40 and a 1 year high of $163.66.

M/I Homes (NYSE:MHO) last released its quarterly earnings results on Wednesday, October 21st. The construction company reported $2.70 EPS for the quarter, missing the consensus estimate of $3.25 by ($0.55). M/I Homes had a return on equity of 10.12% and a net margin of 6.59%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the business earned $3.92 earnings per share. The company’s quarterly revenue was down 1.9% on a year-over-year basis. Equities research analysts forecast that M/I Homes, Inc. will post 10.76 EPS for the current year.

Hedge Funds Weigh In On M/I Homes

Institutional investors and hedge funds have recently made changes to their positions in the stock. Corient Private Wealth LLC raised 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 valued at $498,000 after acquiring an additional 76 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in M/I Homes by 33.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 391 shares of the construction company’s stock worth $48,000 after acquiring an additional 97 shares in the last quarter. GAMMA Investing LLC grew its holdings in M/I Homes by 4.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,222 shares of the construction company’s stock worth $300,000 after acquiring an additional 101 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of M/I Homes in the 2nd quarter valued at approximately $26,000. Finally, SummerHaven Investment Management LLC raised its holdings 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 valued at $855,000 after purchasing an additional 188 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MHO shares. Zelman & Associates downgraded M/I Homes from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 7th. Zacks Research lowered shares of M/I Homes from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 9th. Citigroup restated a “market outperform” rating on shares of M/I Homes in a report on Thursday, October 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of M/I Homes in a research note on Wednesday, August 12th. Finally, Jefferies Financial Group set a $165.00 target price on shares of M/I Homes in a report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, M/I Homes currently has a consensus rating of “Moderate Buy” and an average target price of $164.40.

M/I Homes Company Profile

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.