M/I Homes (NYSE:MHO) CFO Sells $1,264,828.80 in Stock

M/I Homes, Inc. (NYSE:MHO) CFO Phillip Creek sold 8,616 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $146.80, for a total transaction of $1,264,828.80. Following the sale, the chief financial officer directly owned 45,815 shares of the company’s stock, valued at $6,725,642. This represents a 15.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

M/I Homes Trading Up 1.9%

Shares of M/I Homes stock traded up $2.84 on Friday, hitting $149.66. 383,565 shares of the company traded hands, compared to its average volume of 262,682. M/I Homes, Inc. has a 52 week low of $100.22 and a 52 week high of $158.92. The company has a market cap of $3.91 billion, a PE ratio of 10.17 and a beta of 1.77. The stock’s 50 day moving average price is $134.04 and its 200-day moving average price is $136.32. The company has a current ratio of 7.54, a quick ratio of 1.72 and a debt-to-equity ratio of 0.31.

M/I Homes (NYSE:MHO) last posted its quarterly earnings results on Wednesday, January 28th. The construction company reported $3.91 EPS for the quarter, beating the consensus estimate of $3.88 by $0.03. The business 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 company’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.71 EPS. Equities research analysts predict that M/I Homes, Inc. will post 18.44 EPS for the current year.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MHO shares. Raymond James Financial boosted their target price on shares of M/I Homes from $150.00 to $155.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 24th. Citizens Jmp began 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 on the stock. Oppenheimer set a $165.00 price objective on M/I Homes in a research report on Friday, January 30th. Zacks Research lowered shares of M/I Homes from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of M/I Homes in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, M/I Homes currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.67.

Institutional Investors Weigh In On M/I Homes

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rafferty Asset Management LLC increased its holdings in M/I Homes by 7.5% in the 4th quarter. Rafferty Asset Management LLC now owns 42,799 shares of the construction company’s stock valued at $5,476,000 after purchasing an additional 2,968 shares during the last quarter. A4 Wealth Advisors LLC acquired a new position in M/I Homes during the 4th quarter worth about $214,000. State Street Corp grew its position in M/I Homes by 2.2% in the 4th quarter. State Street Corp now owns 1,337,188 shares of the construction company’s stock valued at $171,093,000 after acquiring an additional 28,187 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in M/I Homes by 6.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 55,845 shares of the construction company’s stock worth $7,145,000 after purchasing an additional 3,303 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of M/I Homes by 143.2% during the fourth quarter. Wells Fargo & Company MN now owns 49,657 shares of the construction company’s stock worth $6,354,000 after purchasing an additional 29,235 shares in the last quarter. Institutional investors and hedge funds 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.