M/I Homes (NYSE:MHO) CEO Sells $2,198,183.20 in Stock

M/I Homes, Inc. (NYSE:MHO) CEO Robert Schottenstein sold 14,974 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $146.80, for a total transaction of $2,198,183.20. Following the sale, the chief executive officer owned 348,513 shares of the company’s stock, valued at $51,161,708.40. This trade represents a 4.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

M/I Homes Stock Up 1.9%

MHO opened at $149.66 on Monday. The firm’s 50 day simple moving average is $134.36 and its two-hundred day simple moving average is $136.71. The company has a market capitalization of $3.91 billion, a PE ratio of 10.17 and a beta of 1.77. M/I Homes, Inc. has a 1-year low of $100.22 and a 1-year high of $158.92. The company has a current ratio of 7.54, a quick ratio of 1.72 and a debt-to-equity ratio of 0.31.

M/I Homes (NYSE:MHO) last announced its earnings results on Wednesday, January 28th. The construction company reported $3.91 EPS for the quarter, topping analysts’ consensus estimates of $3.88 by $0.03. M/I Homes had a return on equity of 14.50% and a net margin of 9.12%.The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the firm earned $4.71 EPS. M/I Homes’s revenue for the quarter was down 4.9% compared to the same quarter last year. As a group, equities analysts forecast that M/I Homes, Inc. will post 18.44 EPS for the current year.

M/I Homes declared that its board has authorized a share buyback plan on Wednesday, November 12th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 7.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Salomon & Ludwin LLC purchased a new stake in M/I Homes during the third quarter valued at $28,000. Hilton Head Capital Partners LLC purchased a new stake in shares of M/I Homes during the 4th quarter valued at about $28,000. Jones Financial Companies Lllp lifted its holdings in shares of M/I Homes by 73.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 206 shares of the construction company’s stock valued at $30,000 after acquiring an additional 87 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings 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 acquiring an additional 135 shares during the last quarter. Finally, Private Trust Co. NA purchased a new position in M/I Homes in the third quarter worth about $38,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Raymond James Financial upped 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. Citigroup reissued a “market outperform” rating on shares of M/I Homes in a report on Friday, January 30th. Citizens Jmp assumed coverage on M/I Homes in a research report on Wednesday, January 7th. They issued a “market outperform” rating and a $165.00 price objective on the stock. Zacks Research cut M/I Homes from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of M/I Homes in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $161.67.

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.