Jupiter Topco LLC Makes New $20.71 Million Investment in M/I Homes, Inc. $MHO

Jupiter Topco LLC bought a new stake in shares of M/I Homes, Inc. (NYSE:MHO) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 128,800 shares of the construction company’s stock, valued at approximately $20,711,000. Jupiter Topco LLC owned approximately 0.51% of M/I Homes at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in MHO. Hilton Head Capital Partners LLC purchased a new stake in shares of M/I Homes in the fourth quarter worth approximately $28,000. EverSource Wealth Advisors LLC grew its position in M/I Homes by 90.6% during the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock valued at $32,000 after purchasing an additional 135 shares in the last quarter. Langley Wealth Management LLC acquired a new position in M/I Homes in the 2nd quarter valued at approximately $45,000. Aster Capital Management DIFC Ltd acquired a new position in M/I Homes in the 4th quarter valued at approximately $49,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in M/I Homes by 1,090.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 500 shares of the construction company’s stock worth $64,000 after buying an additional 458 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Activity

In related news, CFO Phillip G. Creek sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $151.28, for a total value of $1,512,800.00. Following the completion of the sale, the chief financial officer directly owned 30,918 shares in the company, valued at approximately $4,677,275.04. This represents a 24.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MHO shares. Zacks Research raised shares of M/I Homes from a “strong sell” rating to a “hold” rating in a research note on Friday, June 26th. Freedom Capital raised shares of M/I Homes to a “strong-buy” rating in a research note on Wednesday, June 24th. New Street Research set a $172.00 price objective on M/I Homes in a report on Tuesday, August 4th. Weiss Ratings reissued a “hold (c)” rating on shares of M/I Homes in a research report on Wednesday, August 12th. Finally, Zelman & Associates downgraded M/I Homes from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, M/I Homes has an average rating of “Moderate Buy” and a consensus price target of $164.25.

M/I Homes Price Performance

Shares of MHO opened at $151.72 on Friday. The firm has a market cap of $3.84 billion, a PE ratio of 12.77 and a beta of 1.60. The firm’s 50 day moving average price is $151.44 and its 200 day moving average price is $139.22. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.69 and a current ratio of 7.65. M/I Homes, Inc. has a twelve month low of $116.78 and a twelve month high of $163.66.

M/I Homes (NYSE:MHO) last posted its earnings results on Wednesday, July 29th. The construction company reported $3.14 EPS for the quarter, topping the consensus estimate of $3.13 by $0.01. M/I Homes had a net margin of 7.44% and a return on equity of 11.53%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the firm posted $4.42 earnings per share. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, research analysts expect that M/I Homes, Inc. will post 12.62 EPS for the current fiscal year.

M/I Homes Profile

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.