EMG Holdings L.P. Has $2.57 Million Stake in M/I Homes, Inc. $MHO

EMG Holdings L.P. cut its position in shares of M/I Homes, Inc. (NYSE:MHO) by 73.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 17,810 shares of the construction company’s stock after selling 50,491 shares during the quarter. M/I Homes makes up about 1.0% of EMG Holdings L.P.’s portfolio, making the stock its 12th largest holding. EMG Holdings L.P.’s holdings in M/I Homes were worth $2,572,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Salomon & Ludwin LLC bought a new position in shares of M/I Homes in the 3rd quarter worth about $28,000. Jones Financial Companies Lllp boosted its position in shares of M/I Homes by 73.1% during the 3rd 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% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock valued at $32,000 after purchasing an additional 135 shares in the last quarter. Private Trust Co. NA acquired a new stake in M/I Homes during the third quarter worth approximately $38,000. Finally, Nomura Asset Management Co. Ltd. increased its holdings in M/I Homes by 58.6% in the second quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the construction company’s stock worth $52,000 after purchasing an additional 170 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Citizens Jmp initiated coverage on shares of M/I Homes in a research note on Wednesday, January 7th. They issued a “market outperform” rating and a $165.00 price objective for the company. Oppenheimer set a $165.00 price target on shares of M/I Homes in a report on Friday, January 30th. Zacks Research downgraded shares of M/I Homes from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of M/I Homes in a research report on Thursday, January 22nd. Finally, Citigroup restated a “market outperform” rating on shares of M/I Homes in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $161.67.

M/I Homes Stock Performance

Shares of M/I Homes stock opened at $128.52 on Friday. M/I Homes, Inc. has a 52 week low of $100.22 and a 52 week high of $158.92. The company has a quick ratio of 1.86, a current ratio of 8.12 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average price of $137.92 and a 200-day moving average price of $137.16. The company has a market cap of $3.31 billion, a PE ratio of 8.74 and a beta of 1.77.

M/I Homes (NYSE:MHO) last announced its earnings results on Wednesday, January 28th. The construction company reported $3.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.03. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. M/I Homes had a return on equity of 14.50% and a net margin of 9.12%.M/I Homes’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.71 earnings per share. Equities analysts anticipate that M/I Homes, Inc. will post 18.44 earnings per share for the current fiscal year.

Insider Transactions at M/I Homes

In other news, CEO Robert H. Schottenstein sold 14,974 shares of the stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $146.80, for a total value of $2,198,183.20. Following the completion of the sale, the chief executive officer owned 348,513 shares in the company, valued at $51,161,708.40. This represents a 4.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Phillip G. Creek sold 8,616 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 45,815 shares in the company, valued at $6,725,642. The trade was a 15.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 49,213 shares of company stock worth $7,115,268 in the last quarter. 3.50% of the stock is currently owned by corporate insiders.

M/I Homes Company Profile

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.