M/I Homes, Inc. (NYSE:MHO) Shares Sold by Summit Global Investments

Summit Global Investments decreased its stake in shares of M/I Homes, Inc. (NYSE:MHO) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,696 shares of the construction company’s stock after selling 530 shares during the period. Summit Global Investments’ holdings in M/I Homes were worth $1,611,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in MHO. Stratos Wealth Partners LTD. acquired a new stake in shares of M/I Homes in the third quarter valued at approximately $908,000. GW Henssler & Associates Ltd. bought a new position in shares of M/I Homes in the third quarter worth $216,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in M/I Homes by 25.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,577 shares of the construction company’s stock worth $637,000 after purchasing an additional 1,559 shares during the period. Strs Ohio lifted its stake in shares of M/I Homes by 200.0% in the 3rd quarter. Strs Ohio now owns 300 shares of the construction company’s stock worth $25,000 after acquiring an additional 200 shares during the period. Finally, TD Asset Management Inc raised its holdings in M/I Homes by 38.8% during the third quarter. TD Asset Management Inc now owns 21,100 shares of the construction company’s stock worth $1,773,000 after purchasing an additional 5,900 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

M/I Homes Price Performance

NYSE:MHO traded up $3.07 during trading hours on Friday, reaching $121.98. 274,106 shares of the company’s stock were exchanged, compared to its average volume of 273,191. The company has a market capitalization of $3.38 billion, a P/E ratio of 7.02 and a beta of 2.16. M/I Homes, Inc. has a 12 month low of $65.58 and a 12 month high of $140.73. The business’s 50-day simple moving average is $123.14 and its two-hundred day simple moving average is $117.39. The company has a quick ratio of 1.86, a current ratio of 6.91 and a debt-to-equity ratio of 0.35.

M/I Homes (NYSE:MHO) last announced its earnings results on Wednesday, April 24th. The construction company reported $4.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.82. M/I Homes had a return on equity of 20.26% and a net margin of 12.27%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. Sell-side analysts expect that M/I Homes, Inc. will post 18.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Robert H. Schottenstein sold 19,200 shares of M/I Homes stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $122.00, for a total value of $2,342,400.00. Following the transaction, the chief executive officer now directly owns 122,951 shares of the company’s stock, valued at $15,000,022. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Robert H. Schottenstein sold 19,200 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $122.00, for a total value of $2,342,400.00. Following the completion of the sale, the chief executive officer now owns 122,951 shares in the company, valued at $15,000,022. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ann Marie Hunker sold 2,461 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $128.51, for a total value of $316,263.11. Following the transaction, the insider now directly owns 2,342 shares in the company, valued at $300,970.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,661 shares of company stock worth $3,756,663. Company insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wedbush reissued a “neutral” rating and issued a $130.00 price objective (up previously from $116.00) on shares of M/I Homes in a research note on Wednesday, April 24th. StockNews.com upgraded shares of M/I Homes from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 26th.

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.