M/I Homes (NYSE:MHO) Shares Gap Up to $119.47

M/I Homes, Inc. (NYSE:MHO)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $119.47, but opened at $126.90. M/I Homes shares last traded at $123.68, with a volume of 95,748 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded M/I Homes from a “hold” rating to a “buy” rating in a research note on Monday, February 19th.

M/I Homes Stock Performance

The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.68 and a current ratio of 6.84. The company has a market capitalization of $3.35 billion, a PE ratio of 7.36 and a beta of 2.13. The company has a 50 day moving average price of $123.29 and a 200 day moving average price of $115.73.

M/I Homes (NYSE:MHO) last posted its quarterly earnings results on Wednesday, January 31st. The construction company reported $3.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.94 by ($1.28). The company had revenue of $972.59 million during the quarter, compared to analyst estimates of $1.19 billion. M/I Homes had a net margin of 11.54% and a return on equity of 19.75%. Equities analysts forecast that M/I Homes, Inc. will post 16.35 EPS for the current year.

Insider Transactions at M/I Homes

In related news, insider Ann Marie Hunker sold 2,461 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $128.51, for a total value of $316,263.11. Following the completion of the sale, the insider now directly owns 2,342 shares of the company’s stock, valued at $300,970.42. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On M/I Homes

A number of hedge funds have recently added to or reduced their stakes in the business. Westfield Capital Management Co. LP bought a new position in shares of M/I Homes in the 3rd quarter worth about $82,185,000. Pacer Advisors Inc. lifted its holdings in M/I Homes by 49.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,070,909 shares of the construction company’s stock worth $147,507,000 after acquiring an additional 354,182 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in M/I Homes in the fourth quarter valued at approximately $25,385,000. Comerica Bank bought a new position in shares of M/I Homes during the third quarter valued at approximately $9,554,000. Finally, American Century Companies Inc. grew its holdings in shares of M/I Homes by 27.0% during the third quarter. American Century Companies Inc. now owns 480,872 shares of the construction company’s stock valued at $40,412,000 after purchasing an additional 102,358 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

About M/I Homes

M/I Homes, Inc, together with its subsidiaries, engages in the construction and sale of single-family residential homes in Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee. The company operates through Northern Homebuilding, Southern Homebuilding, and Financial Services segments.