Engineers Gate Manager LP Buys 3,517 Shares of M/I Homes, Inc. $MHO

Engineers Gate Manager LP boosted its stake in M/I Homes, Inc. (NYSE:MHO) by 46.1% during the 2nd quarter, Holdings Channel reports. The firm owned 11,138 shares of the construction company’s stock after buying an additional 3,517 shares during the quarter. Engineers Gate Manager LP’s holdings in M/I Homes were worth $1,791,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Integrated Wealth Concepts LLC purchased a new position in shares of M/I Homes during the second quarter valued at about $26,000. Hilton Head Capital Partners LLC purchased a new stake in shares of M/I Homes in the fourth quarter worth about $28,000. Langley Wealth Management LLC bought a new position in M/I Homes during the second quarter valued at approximately $45,000. EverSource Wealth Advisors LLC boosted its stake in M/I Homes by 33.0% during the first quarter. EverSource Wealth Advisors LLC now owns 391 shares of the construction company’s stock valued at $48,000 after buying an additional 97 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in M/I Homes by 1,090.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 500 shares of the construction company’s stock valued at $64,000 after buying an additional 458 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

Insider Transactions at M/I Homes

In related news, CFO Phillip Creek sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $151.28, for a total value of $1,512,800.00. Following the completion of the sale, the chief financial officer directly owned 30,918 shares in the company, valued at $4,677,275.04. This trade represents a 24.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Zelman & Associates downgraded M/I Homes from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 7th. Freedom Capital upgraded M/I Homes to a “strong-buy” rating in a research report on Wednesday, June 24th. Weiss Ratings reissued a “hold (c)” rating on shares of M/I Homes in a report on Wednesday, August 12th. New Street Research set a $172.00 price target on shares of M/I Homes in a research report on Tuesday, August 4th. Finally, Zacks Research downgraded shares of M/I Homes from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 9th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, M/I Homes currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.25.

M/I Homes Price Performance

NYSE:MHO opened at $142.39 on Wednesday. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 11.99 and a beta of 1.61. M/I Homes, Inc. has a 1 year low of $116.78 and a 1 year high of $163.66. The business has a 50 day simple moving average of $148.66 and a 200-day simple moving average of $139.19. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.65 and a quick ratio of 1.69.

M/I Homes (NYSE:MHO) last announced its earnings results on Wednesday, July 29th. The construction company reported $3.14 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $0.01. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. M/I Homes had a return on equity of 11.53% and a net margin of 7.44%.The company’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.42 EPS. Equities analysts forecast that M/I Homes, Inc. will post 12.12 EPS for the current year.

About M/I Homes

M/I Homes, Inc is a residential construction company that builds and sells new single-family homes. Its operations include land acquisition and development, home design and construction, sales and marketing, and customer service. The company offers homes in a range of designs and price points, with options and features that can be customized by buyers in many communities.

M/I Homes also provides complementary services through affiliated operations, including mortgage financing and title services.