M/I Homes (NYSE:MHO) CEO Robert Schottenstein Sells 20,000 Shares

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 $45,345,376.78. This trade represents a 5.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

M/I Homes Price Performance

MHO opened at $145.08 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.72 and a current ratio of 7.54. The stock has a market capitalization of $3.79 billion, a P/E ratio of 9.86 and a beta of 1.77. The company’s 50-day simple moving average is $133.80 and its two-hundred day simple moving average is $136.25. M/I Homes, Inc. has a 52-week low of $100.22 and a 52-week high of $158.92.

M/I Homes (NYSE:MHO) last announced 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 firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. M/I Homes had a net margin of 9.12% and a return on equity of 14.50%. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $4.71 earnings per share. As a group, analysts predict that M/I Homes, Inc. will post 18.44 EPS for the current year.

M/I Homes announced that its board has approved a share repurchase program on Wednesday, November 12th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 7.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MHO shares. Citizens Jmp initiated coverage on M/I Homes in a research note on Wednesday, January 7th. They issued a “market outperform” rating and a $165.00 price target on the stock. Oppenheimer set a $165.00 target price on M/I Homes in a report on Friday, January 30th. Zacks Research downgraded M/I Homes from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of M/I Homes in a research report on Thursday, January 22nd. Finally, Raymond James Financial raised their price objective on shares of M/I Homes from $150.00 to $155.00 and gave the stock a “strong-buy” rating in a report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $161.67.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Salomon & Ludwin LLC bought a new position in shares of M/I Homes during the 3rd quarter valued at approximately $28,000. Hilton Head Capital Partners LLC purchased a new position in M/I Homes during the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp lifted its holdings in M/I Homes by 73.1% during the third quarter. Jones Financial Companies Lllp now owns 206 shares of the construction company’s stock valued at $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 purchasing an additional 135 shares during the period. Finally, Private Trust Co. NA purchased a new stake in shares of M/I Homes in the third quarter worth $38,000. Institutional investors own 95.14% of the company’s stock.

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.