Insider Selling: M/I Homes (NYSE:MHO) CFO Sells $1,512,800.00 in Stock

M/I Homes, Inc. (NYSE:MHO) CFO Phillip Creek sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $151.28, for a total transaction of $1,512,800.00. Following the transaction, the chief financial officer directly owned 30,918 shares of the company’s stock, valued at $4,677,275.04. This represents a 24.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

M/I Homes Stock Performance

Shares of MHO opened at $151.40 on Friday. The company has a quick ratio of 1.59, a current ratio of 7.65 and a debt-to-equity ratio of 0.29. The stock has a market cap of $3.83 billion, a P/E ratio of 12.74 and a beta of 1.60. The business’s 50 day moving average price is $148.17 and its 200-day moving average price is $137.53. M/I Homes, Inc. has a 52 week low of $116.78 and a 52 week high of $163.66.

M/I Homes (NYSE:MHO) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $3.13 by $0.01. M/I Homes had a return on equity of 11.53% and a net margin of 7.44%.The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the company earned $4.42 EPS. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. Equities research analysts anticipate that M/I Homes, Inc. will post 12.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MHO has been the subject of several recent analyst reports. Freedom Capital raised M/I Homes to a “strong-buy” rating in a research report on Wednesday, June 24th. Weiss Ratings reissued a “hold (c)” rating on shares of M/I Homes in a research report on Friday, May 15th. Zelman & Associates lowered shares of M/I Homes from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 7th. Zacks Research raised shares of M/I Homes from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. Finally, New Street Research set a $172.00 target price on shares of M/I Homes in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, M/I Homes currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.25.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in M/I Homes during the second quarter valued at $769,776,000. Millennium Management LLC lifted its holdings in M/I Homes by 107.5% in the fourth quarter. Millennium Management LLC now owns 434,484 shares of the construction company’s stock valued at $55,592,000 after acquiring an additional 225,120 shares during the period. Bank of New York Mellon Corp purchased a new position in M/I Homes in the second quarter worth about $30,032,000. Invesco Ltd. boosted its position in M/I Homes by 116.4% in the third quarter. Invesco Ltd. now owns 300,912 shares of the construction company’s stock worth $43,464,000 after purchasing an additional 161,881 shares during the last quarter. Finally, Squarepoint Ops LLC grew its stake in shares of M/I Homes by 1,806.4% during the 4th quarter. Squarepoint Ops LLC now owns 114,134 shares of the construction company’s stock valued at $14,603,000 after purchasing an additional 108,147 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

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.