Harbor Capital Advisors Inc. Has $1.85 Million Position in M/I Homes, Inc. (NYSE:MHO)

Harbor Capital Advisors Inc. raised its holdings in M/I Homes, Inc. (NYSE:MHO) by 214.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,123 shares of the construction company’s stock after buying an additional 10,318 shares during the period. Harbor Capital Advisors Inc.’s holdings in M/I Homes were worth $1,847,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Voss Capital LLC acquired a new position in shares of M/I Homes during the 4th quarter worth about $3,444,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of M/I Homes during the 1st quarter worth about $4,281,000. Stratos Wealth Partners LTD. increased its stake in shares of M/I Homes by 143.3% during the 4th quarter. Stratos Wealth Partners LTD. now owns 26,284 shares of the construction company’s stock worth $3,620,000 after purchasing an additional 15,481 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of M/I Homes by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 2,056,865 shares of the construction company’s stock worth $283,313,000 after purchasing an additional 95,437 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in shares of M/I Homes by 137.1% during the 1st quarter. Los Angeles Capital Management LLC now owns 12,021 shares of the construction company’s stock worth $1,638,000 after purchasing an additional 6,950 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

M/I Homes Stock Performance

NYSE MHO traded down $5.71 during trading on Wednesday, reaching $141.08. The company’s stock had a trading volume of 161,968 shares, compared to its average volume of 263,065. The company has a current ratio of 6.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 8.45 and a beta of 2.22. M/I Homes, Inc. has a 12 month low of $74.79 and a 12 month high of $173.86. The firm has a 50 day moving average price of $133.40 and a 200 day moving average price of $127.43.

M/I Homes (NYSE:MHO) last posted its quarterly earnings data on Tuesday, July 30th. The construction company reported $5.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.60 by $0.52. M/I Homes had a net margin of 12.67% and a return on equity of 20.50%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the firm posted $4.12 EPS. As a group, equities analysts anticipate that M/I Homes, Inc. will post 18.34 EPS for the current fiscal year.

Insider Transactions at M/I Homes

In other news, CFO Phillip G. Creek sold 2,767 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $166.24, for a total transaction of $459,986.08. Following the completion of the sale, the chief financial officer now owns 18,545 shares of the company’s stock, valued at approximately $3,082,920.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Phillip G. Creek sold 2,767 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $166.24, for a total transaction of $459,986.08. Following the completion of the sale, the chief financial officer now owns 18,545 shares of the company’s stock, valued at approximately $3,082,920.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert H. Schottenstein sold 2,089 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $166.12, for a total transaction of $347,024.68. Following the completion of the transaction, the chief executive officer now owns 122,951 shares of the company’s stock, valued at $20,424,620.12. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Raymond James boosted their price objective on shares of M/I Homes from $200.00 to $210.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. StockNews.com upgraded shares of M/I Homes from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 26th. Finally, Wedbush reiterated a “neutral” rating and issued a $130.00 price target (up previously from $116.00) on shares of M/I Homes in a research note on Wednesday, April 24th.

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.