M/I Homes (NYSE:MHO) CEO Robert Schottenstein Sells 14,974 Shares of Stock

M/I Homes, Inc. (NYSE:MHO) CEO Robert Schottenstein sold 14,974 shares of the firm’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $146.80, for a total value of $2,198,183.20. Following the completion of the transaction, the chief executive officer directly owned 348,513 shares in the company, valued at $51,161,708.40. This trade represents a 4.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

M/I Homes Trading Up 1.9%

M/I Homes stock opened at $149.66 on Friday. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 10.17 and a beta of 1.77. M/I Homes, Inc. has a 12-month low of $100.22 and a 12-month high of $158.92. The firm has a 50 day moving average of $134.36 and a 200 day moving average of $136.50. The company has a current ratio of 7.54, a quick ratio of 1.72 and a debt-to-equity ratio of 0.31.

M/I Homes (NYSE:MHO) last issued its earnings results on Wednesday, January 28th. The construction company reported $3.91 earnings per share for the quarter, topping the consensus estimate of $3.88 by $0.03. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. M/I Homes had a net margin of 9.12% and a return on equity of 14.50%. M/I Homes’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.71 EPS. As a group, research analysts predict that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

M/I Homes announced that its board has initiated a stock repurchase program on Wednesday, November 12th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the construction company to reacquire up to 7.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Institutional Trading of M/I Homes

Several institutional investors and hedge funds have recently made changes to their positions in the business. Intech Investment Management LLC grew its holdings in shares of M/I Homes by 0.5% in the fourth quarter. Intech Investment Management LLC now owns 14,883 shares of the construction company’s stock worth $1,904,000 after purchasing an additional 72 shares during the last quarter. Jones Financial Companies Lllp boosted its position in M/I Homes by 73.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 206 shares of the construction company’s stock valued at $30,000 after buying an additional 87 shares during the period. WealthCollab LLC grew its stake in M/I Homes by 16.5% in the 2nd quarter. WealthCollab LLC now owns 614 shares of the construction company’s stock worth $69,000 after acquiring an additional 87 shares in the last quarter. Private Advisor Group LLC increased its position in shares of M/I Homes by 3.0% during the third quarter. Private Advisor Group LLC now owns 3,027 shares of the construction company’s stock worth $437,000 after acquiring an additional 89 shares during the period. Finally, SkyOak Wealth LLC increased its position in shares of M/I Homes by 3.8% during the third quarter. SkyOak Wealth LLC now owns 2,445 shares of the construction company’s stock worth $353,000 after acquiring an additional 90 shares during the period. 95.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on MHO. Citizens Jmp began coverage on shares of M/I Homes in a report on Wednesday, January 7th. They set a “market outperform” rating and a $165.00 price objective for the company. Oppenheimer set a $165.00 target price on M/I Homes in a research report on Friday, January 30th. Raymond James Financial boosted their price target on shares of M/I Homes from $150.00 to $155.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 24th. Citigroup reissued a “market outperform” rating on shares of M/I Homes in a research note on Friday, January 30th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of M/I Homes in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $161.67.

About M/I Homes

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.