Assenagon Asset Management S.A. Trims Stake in M/I Homes, Inc. $MHO

Assenagon Asset Management S.A. cut its holdings in M/I Homes, Inc. (NYSE:MHO) by 37.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 107,862 shares of the construction company’s stock after selling 65,782 shares during the period. Assenagon Asset Management S.A.’s holdings in M/I Homes were worth $13,801,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MHO. Salomon & Ludwin LLC bought a new position in M/I Homes in the 3rd quarter worth $28,000. Jones Financial Companies Lllp grew its holdings in M/I Homes by 73.1% during the third quarter. Jones Financial Companies Lllp now owns 206 shares of the construction company’s stock valued at $30,000 after purchasing an additional 87 shares during the period. EverSource Wealth Advisors LLC increased its position in M/I Homes by 90.6% in the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock worth $32,000 after buying an additional 135 shares in the last quarter. Private Trust Co. NA purchased a new stake in M/I Homes in the third quarter worth about $38,000. Finally, WealthCollab LLC raised its stake in shares of M/I Homes by 16.5% in the second quarter. WealthCollab LLC now owns 614 shares of the construction company’s stock worth $69,000 after buying an additional 87 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Activity at M/I Homes

In other M/I Homes news, insider Susan E. Krohne sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $134.28, for a total transaction of $671,400.00. Following the completion of the transaction, the insider owned 6,167 shares in the company, valued at $828,104.76. This trade represents a 44.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert H. Schottenstein sold 20,000 shares of M/I Homes stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $144.47, for a total value of $2,889,400.00. Following the completion of the sale, the chief executive officer directly owned 313,874 shares in the company, valued at approximately $45,345,376.78. The trade was a 5.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 49,213 shares of company stock valued at $7,115,268. Insiders own 3.50% of the company’s stock.

Wall Street Analyst Weigh In

MHO has been the subject of a number of recent research reports. Oppenheimer set a $165.00 price objective on M/I Homes in a research note on Friday, January 30th. Weiss Ratings restated a “hold (c+)” rating on shares of M/I Homes in a research note on Thursday, January 22nd. Zacks Research downgraded shares of M/I Homes from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Citigroup reiterated a “market outperform” rating on shares of M/I Homes in a research report on Friday, January 30th. Finally, Citizens Jmp started coverage on shares of M/I Homes in a research note on Wednesday, January 7th. They issued a “market outperform” rating and a $165.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, M/I Homes currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.67.

M/I Homes Stock Down 1.1%

Shares of MHO stock opened at $121.77 on Friday. The stock has a market cap of $3.14 billion, a P/E ratio of 8.28 and a beta of 1.77. M/I Homes, Inc. has a 52 week low of $100.22 and a 52 week high of $158.92. The company has a quick ratio of 1.86, a current ratio of 8.12 and a debt-to-equity ratio of 0.31. The company’s fifty day simple moving average is $136.08 and its two-hundred day simple moving average is $135.67.

M/I Homes (NYSE:MHO) last issued its quarterly earnings data on Wednesday, January 28th. The construction company reported $3.91 earnings per share for the quarter, beating 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 firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the business posted $4.71 earnings per share. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. Analysts predict that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

M/I Homes 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.