Algert Global LLC Acquires New Position in M/I Homes, Inc. (NYSE:MHO)
Algert Global LLC acquired a new position in shares of M/I Homes, Inc. (NYSE:MHO) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 80,637 shares of the construction company’s stock, valued at approximately $2,302,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of M/I Homes by 20,864.8% in the first quarter. BlackRock Inc. now owns 3,583,086 shares of the construction company’s stock worth $87,785,000 after buying an additional 3,565,995 shares during the last quarter. Kennedy Capital Management Inc. purchased a new position in shares of M/I Homes during the first quarter worth approximately $6,565,000. Teachers Advisors LLC raised its position in shares of M/I Homes by 665.7% in the fourth quarter. Teachers Advisors LLC now owns 284,099 shares of the construction company’s stock worth $7,154,000 after buying an additional 246,998 shares during the last quarter. Vanguard Group Inc. raised its position in shares of M/I Homes by 16.9% in the first quarter. Vanguard Group Inc. now owns 1,354,514 shares of the construction company’s stock worth $33,185,000 after buying an additional 195,533 shares during the last quarter. Finally, Brookfield Asset Management Inc. purchased a new position in shares of M/I Homes during the first quarter worth approximately $3,979,000.
M/I Homes (NYSE:MHO) last announced its quarterly earnings results on Wednesday, July 26th. The construction company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.05. The company had revenue of $456.87 million during the quarter, compared to the consensus estimate of $456.56 million. M/I Homes had a net margin of 3.57% and a return on equity of 12.99%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 earnings per share.
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MHO has been the topic of a number of recent research reports. Wedbush reiterated an “outperform” rating and issued a $27.00 price objective on shares of M/I Homes in a research report on Wednesday, April 26th. Zacks Investment Research lowered M/I Homes from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 12th. ValuEngine upgraded M/I Homes from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. BidaskClub lowered M/I Homes from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Finally, JMP Securities upgraded M/I Homes from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a research report on Monday, July 31st. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $31.00.
In other news, VP J Thomas Mason sold 27,594 shares of the company’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $28.42, for a total transaction of $784,221.48. Following the completion of the transaction, the vice president now directly owns 19,594 shares in the company, valued at $556,861.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.70% of the stock is currently owned by corporate insiders.
About M/I Homes
M/I Homes, Inc is a builder of single-family homes. The Company consists of two operations: homebuilding and financial services. It operates through Midwest homebuilding, Southern homebuilding, Mid-Atlantic homebuilding and financial services operations segments. The Company and its subsidiaries are engaged primarily in the construction and sale of single-family residential homes in 15 markets: Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St.
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