Assenagon Asset Management S.A. Sells 35,783 Shares of M/I Homes, Inc. $MHO

Assenagon Asset Management S.A. lowered its stake in shares of M/I Homes, Inc. (NYSE:MHO) by 17.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 173,644 shares of the construction company’s stock after selling 35,783 shares during the period. Assenagon Asset Management S.A.’s holdings in M/I Homes were worth $25,081,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC increased its stake in M/I Homes by 14.0% during the third quarter. GAMMA Investing LLC now owns 1,658 shares of the construction company’s stock valued at $239,000 after acquiring an additional 204 shares during the period. Cullen Capital Management LLC grew its holdings in shares of M/I Homes by 34.3% during the 2nd quarter. Cullen Capital Management LLC now owns 4,081 shares of the construction company’s stock worth $458,000 after purchasing an additional 1,042 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of M/I Homes by 91.6% during the second quarter. Corient Private Wealth LLC now owns 3,810 shares of the construction company’s stock valued at $427,000 after purchasing an additional 1,822 shares during the period. Texas Permanent School Fund Corp increased its position in shares of M/I Homes by 13.0% during the second quarter. Texas Permanent School Fund Corp now owns 19,724 shares of the construction company’s stock valued at $2,211,000 after purchasing an additional 2,267 shares during the period. Finally, Osaic Holdings Inc. raised its stake in shares of M/I Homes by 21.3% in the second quarter. Osaic Holdings Inc. now owns 11,887 shares of the construction company’s stock valued at $1,336,000 after purchasing an additional 2,084 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

M/I Homes Trading Down 0.3%

Shares of M/I Homes stock opened at $133.06 on Friday. M/I Homes, Inc. has a 12-month low of $100.22 and a 12-month high of $158.92. The stock has a market capitalization of $3.48 billion, a P/E ratio of 7.81 and a beta of 1.72. The company has a 50-day simple moving average of $131.66 and a 200 day simple moving average of $130.41. The company has a quick ratio of 1.59, a current ratio of 7.15 and a debt-to-equity ratio of 0.29.

M/I Homes (NYSE:MHO) last issued its quarterly earnings data on Wednesday, October 22nd. The construction company reported $3.92 earnings per share for the quarter, missing the consensus estimate of $4.37 by ($0.45). M/I Homes had a return on equity of 15.72% and a net margin of 10.56%.The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.16 billion. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. Research analysts expect that M/I Homes, Inc. will post 18.44 earnings per share for the current fiscal year.

M/I Homes declared that its board has approved a share repurchase program on Wednesday, November 12th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 7.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MHO. Weiss Ratings reiterated a “hold (c+)” rating on shares of M/I Homes in a research note on Wednesday, October 8th. Zacks Research upgraded shares of M/I Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, September 26th. Finally, Raymond James Financial increased their price target on shares of M/I Homes from $150.00 to $155.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 24th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $155.00.

M/I Homes Company Profile

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.