Short Interest in M/I Homes, Inc. (NYSE:MHO) Drops By 19.6%

M/I Homes, Inc. (NYSE:MHO) was the target of a significant decrease in short interest in September. As of September 30th, there was short interest totalling 916,200 shares, a decrease of 19.6% from the September 15th total of 1,140,000 shares. Currently, 3.4% of the company’s stock are short sold. Based on an average daily volume of 319,100 shares, the days-to-cover ratio is presently 2.9 days.

M/I Homes Trading Up 1.3 %

Shares of MHO stock traded up $2.18 on Tuesday, reaching $169.64. 194,542 shares of the company’s stock were exchanged, compared to its average volume of 276,821. The company’s fifty day simple moving average is $158.83 and its 200 day simple moving average is $138.88. The stock has a market capitalization of $4.71 billion, a PE ratio of 9.64 and a beta of 2.23. The company has a current ratio of 6.62, a quick ratio of 1.76 and a debt-to-equity ratio of 0.33. M/I Homes has a 52 week low of $74.79 and a 52 week high of $173.86.

M/I Homes (NYSE:MHO) last issued its earnings results on Tuesday, July 30th. The construction company reported $5.12 earnings per share for the quarter, topping the consensus estimate of $4.60 by $0.52. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. M/I Homes had a return on equity of 20.50% and a net margin of 12.67%. During the same period in the prior year, the business earned $4.12 EPS. As a group, analysts forecast that M/I Homes will post 19.76 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MHO shares. StockNews.com upgraded shares of M/I Homes from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Raymond James upped their target price on shares of M/I Homes from $200.00 to $210.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd.

Insiders Place Their Bets

In other M/I Homes news, CFO Phillip G. Creek sold 2,767 shares of M/I Homes stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $166.24, for a total value of $459,986.08. Following the completion of the transaction, the chief financial officer now directly owns 18,545 shares of the company’s stock, valued at approximately $3,082,920.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other M/I Homes news, 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 sale, the chief executive officer now directly owns 122,951 shares of the company’s stock, valued at approximately $20,424,620.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Phillip G. Creek sold 2,767 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $166.24, for a total value of $459,986.08. Following the completion of the transaction, the chief financial officer now directly owns 18,545 shares in the company, valued at approximately $3,082,920.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Signaturefd LLC lifted its holdings in shares of M/I Homes by 42.8% in the 2nd quarter. Signaturefd LLC now owns 237 shares of the construction company’s stock valued at $29,000 after buying an additional 71 shares during the period. CWM LLC boosted its stake in M/I Homes by 184.8% during the second quarter. CWM LLC now owns 507 shares of the construction company’s stock worth $62,000 after buying an additional 329 shares during the last quarter. Hollencrest Capital Management purchased a new stake in shares of M/I Homes in the first quarter valued at about $68,000. Quarry LP grew its stake in shares of M/I Homes by 148.0% in the 2nd quarter. Quarry LP now owns 558 shares of the construction company’s stock valued at $68,000 after buying an additional 333 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new position in shares of M/I Homes during the 1st quarter worth $86,000. Institutional investors own 95.14% of the company’s stock.

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.