Inceptionr LLC Buys Shares of 1,905 M/I Homes, Inc. $MHO

Inceptionr LLC purchased a new position in shares of M/I Homes, Inc. (NYSE:MHO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,905 shares of the construction company’s stock, valued at approximately $214,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Donald Smith & CO. Inc. increased its stake in shares of M/I Homes by 10.2% during the first quarter. Donald Smith & CO. Inc. now owns 1,282,967 shares of the construction company’s stock valued at $146,489,000 after acquiring an additional 118,778 shares during the period. American Century Companies Inc. boosted its stake in M/I Homes by 10.7% during the 2nd quarter. American Century Companies Inc. now owns 844,865 shares of the construction company’s stock valued at $94,726,000 after purchasing an additional 81,838 shares in the last quarter. Franklin Resources Inc. increased its position in shares of M/I Homes by 0.4% during the 2nd quarter. Franklin Resources Inc. now owns 572,975 shares of the construction company’s stock valued at $64,242,000 after purchasing an additional 2,021 shares during the period. Millennium Management LLC raised its stake in shares of M/I Homes by 109.4% in the 1st quarter. Millennium Management LLC now owns 500,207 shares of the construction company’s stock worth $57,114,000 after buying an additional 261,381 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of M/I Homes by 6.4% in the second quarter. Assenagon Asset Management S.A. now owns 209,427 shares of the construction company’s stock valued at $23,481,000 after buying an additional 12,506 shares during the period. 95.14% of the stock is currently owned by institutional investors.

M/I Homes Trading Down 1.4%

Shares of MHO opened at $137.59 on Monday. The business’s 50-day moving average price is $134.16 and its 200 day moving average price is $128.17. The company has a current ratio of 7.17, a quick ratio of 1.52 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $3.60 billion, a P/E ratio of 8.08 and a beta of 1.66. M/I Homes, Inc. has a 1-year low of $100.22 and a 1-year high of $168.50.

M/I Homes (NYSE:MHO) last announced its earnings results on Wednesday, October 22nd. The construction company reported $3.92 EPS for the quarter, missing the consensus estimate of $4.37 by ($0.45). The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.16 billion. M/I Homes had a return on equity of 15.72% and a net margin of 10.56%.The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. Analysts expect that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

M/I Homes declared that its board has approved a share repurchase program on Wednesday, November 12th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 7.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MHO shares. Raymond James Financial lifted their target price on M/I Homes from $150.00 to $155.00 and gave the stock a “strong-buy” rating in a report on Friday, October 24th. Zelman & Associates upgraded shares of M/I Homes from a “neutral” rating to an “outperform” rating in a research report on Tuesday, August 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of M/I Homes in a research note on Wednesday, October 8th. Finally, Zacks Research raised shares of M/I Homes from a “strong sell” rating to a “hold” rating in a research note on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, M/I Homes currently has an average rating of “Buy” and an average price target of $155.00.

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.