Corient Private Wealth LP Purchases New Position in M/I Homes, Inc. $MHO

Corient Private Wealth LP purchased a new stake in M/I Homes, Inc. (NYSE:MHO) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 38,652 shares of the construction company’s stock, valued at approximately $6,215,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MHO. Hilton Head Capital Partners LLC purchased a new stake in shares of M/I Homes during the 4th quarter worth approximately $28,000. EverSource Wealth Advisors LLC grew its position in shares of M/I Homes by 90.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock valued at $32,000 after buying an additional 135 shares during the last quarter. Langley Wealth Management LLC purchased a new position in shares of M/I Homes in the 2nd quarter valued at $45,000. Aster Capital Management DIFC Ltd acquired a new stake in M/I Homes during the 4th quarter worth $49,000. Finally, Caitong International Asset Management Co. Ltd raised its stake 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 worth $64,000 after acquiring an additional 458 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Buying and Selling

In other M/I Homes news, CFO Phillip G. Creek sold 20,000 shares of M/I Homes stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $149.56, for a total value of $2,991,200.00. Following the transaction, the chief financial officer directly owned 30,918 shares in the company, valued at approximately $4,624,096.08. The trade was a 39.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MHO shares. New Street Research set a $172.00 price objective on shares of M/I Homes in a research note on Tuesday, August 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of M/I Homes in a research report on Wednesday, August 12th. Freedom Capital upgraded M/I Homes to a “strong-buy” rating in a research report on Wednesday, June 24th. Zelman & Associates downgraded M/I Homes from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 7th. Finally, Zacks Research raised M/I Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, M/I Homes currently has a consensus rating of “Moderate Buy” and an average price target of $164.25.

M/I Homes Stock Performance

Shares of M/I Homes stock opened at $148.75 on Tuesday. The firm’s fifty day simple moving average is $151.44 and its 200-day simple moving average is $139.23. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 12.52 and a beta of 1.60. M/I Homes, Inc. has a 12 month low of $116.78 and a 12 month high of $163.66. 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 released its quarterly earnings results on Wednesday, July 29th. The construction company reported $3.14 EPS for the quarter, beating the consensus estimate of $3.13 by $0.01. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. M/I Homes had a net margin of 7.44% and a return on equity of 11.53%. M/I Homes’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.42 EPS. As a group, equities analysts forecast that M/I Homes, Inc. will post 12.62 earnings per share for the current year.

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.