VCI Wealth Management LLC Acquires 14,123 Shares of M/I Homes, Inc. $MHO

VCI Wealth Management LLC acquired a new position in M/I Homes, Inc. (NYSE:MHO) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,123 shares of the construction company’s stock, valued at approximately $1,908,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of M/I Homes during the 2nd quarter valued at about $769,776,000. Donald Smith & CO. Inc. purchased a new position in shares of M/I Homes during the second quarter valued at about $223,736,000. Bank of America Corp DE bought a new position in M/I Homes in the second quarter worth about $31,561,000. Bank of New York Mellon Corp bought a new position in M/I Homes in the second quarter worth about $30,032,000. Finally, Basswood Capital Management L.L.C. bought a new position in M/I Homes in the second quarter worth about $21,926,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at M/I Homes

In other news, CFO Phillip Creek sold 20,000 shares of the firm’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $126.28, for a total transaction of $2,525,600.00. Following the completion of the transaction, the chief financial officer directly owned 30,918 shares in the company, valued at $3,904,325.04. This trade represents a 39.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Zelman & Associates lowered shares of M/I Homes from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of M/I Homes in a research report on Wednesday, August 12th. New Street Research set a $172.00 target price on M/I Homes in a report on Tuesday, August 4th. Jefferies Financial Group set a $165.00 target price on M/I Homes in a report on Thursday, October 8th. Finally, Citigroup reissued a “market outperform” rating on shares of M/I Homes in a research report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $164.40.

M/I Homes Stock Up 3.3%

Shares of NYSE:MHO opened at $132.53 on Tuesday. The stock has a fifty day simple moving average of $135.88 and a two-hundred day simple moving average of $137.72. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 12.60 and a beta of 1.60. M/I Homes, Inc. has a 12-month low of $113.40 and a 12-month high of $163.66. The company has a current ratio of 7.54, a quick ratio of 1.36 and a debt-to-equity ratio of 0.29.

M/I Homes (NYSE:MHO) last released its earnings results on Wednesday, October 21st. The construction company reported $2.70 EPS for the quarter, missing the consensus estimate of $3.25 by ($0.55). M/I Homes had a return on equity of 10.12% and a net margin of 6.59%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the firm posted $3.92 earnings per share. The company’s revenue was down 1.9% compared to the same quarter last year. On average, research analysts anticipate that M/I Homes, Inc. will post 10.76 earnings per share for the current fiscal year.

About M/I Homes

M/I Homes, Inc is a residential construction company that builds and sells single-family homes for a range of buyers, including first-time, move-up and luxury-home purchasers. Its operations include land acquisition and development, home design, construction, marketing and sales, with communities offered in suburban and metropolitan markets.

The company also provides services that support the homebuying process, including mortgage financing through M/I Financial and title-related services through its affiliated operations.