M/I Homes (NYSE:MHO) CFO Phillip Creek Sells 20,000 Shares of Stock

M/I Homes, Inc. (NYSE:MHO) CFO Phillip Creek sold 20,000 shares of the stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $126.28, for a total transaction of $2,525,600.00. Following the completion of the transaction, the chief financial officer directly owned 30,918 shares of the company’s stock, valued at $3,904,325.04. The trade was a 39.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

M/I Homes Stock Performance

M/I Homes stock traded up $0.10 during mid-day trading on Friday, reaching $128.44. 224,961 shares of the company traded hands, compared to its average volume of 248,464. The firm’s fifty day moving average is $136.71 and its two-hundred day moving average is $137.81. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 12.21 and a beta of 1.60. M/I Homes, Inc. has a fifty-two week low of $113.40 and a fifty-two week high of $163.66. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.54 and a quick ratio of 1.36.

M/I Homes (NYSE:MHO) last announced its quarterly earnings data on Wednesday, October 21st. The construction company reported $2.70 earnings per share for the quarter, missing analysts’ consensus estimates of $3.25 by ($0.55). M/I Homes had a net margin of 6.59% and a return on equity of 10.12%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the firm earned $3.92 earnings per share. M/I Homes’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, equities research analysts expect that M/I Homes, Inc. will post 10.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Trading of M/I Homes

Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in M/I Homes during the second quarter worth about $769,776,000. Donald Smith & CO. Inc. acquired a new position in M/I Homes in the 2nd quarter valued at about $223,736,000. Junto Capital Management LP grew its stake in shares of M/I Homes by 3.1% in the 2nd quarter. Junto Capital Management LP now owns 338,298 shares of the construction company’s stock valued at $54,395,000 after buying an additional 10,047 shares during the period. Bank of America Corp DE purchased a new stake in shares of M/I Homes in the 2nd quarter valued at approximately $31,561,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of M/I Homes during the 2nd quarter worth approximately $30,032,000. 95.14% of the stock is owned by institutional investors and hedge funds.

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.