Panagora Asset Management Inc. Makes New Investment in M/I Homes Inc (NYSE:MHO)

Panagora Asset Management Inc. acquired a new position in shares of M/I Homes Inc (NYSE:MHO) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 172,691 shares of the construction company’s stock, valued at approximately $4,929,000. Panagora Asset Management Inc. owned approximately 0.63% of M/I Homes at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MHO. Prudential Financial Inc. increased its stake in M/I Homes by 161.4% during the 2nd quarter. Prudential Financial Inc. now owns 359,660 shares of the construction company’s stock worth $10,264,000 after buying an additional 222,048 shares in the last quarter. FMR LLC increased its stake in M/I Homes by 94.6% during the 1st quarter. FMR LLC now owns 411,843 shares of the construction company’s stock worth $10,963,000 after buying an additional 200,190 shares in the last quarter. Seacliff Capital LLC purchased a new stake in M/I Homes during the 1st quarter worth approximately $1,531,000. Acadian Asset Management LLC purchased a new stake in M/I Homes during the 1st quarter worth approximately $1,287,000. Finally, Bessemer Group Inc. purchased a new stake in M/I Homes during the 2nd quarter worth approximately $1,316,000. Institutional investors own 97.66% of the company’s stock.

In related news, VP J Thomas Mason sold 27,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $35.84, for a total value of $985,600.00. Following the transaction, the vice president now directly owns 16,500 shares in the company, valued at $591,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert H. Schottenstein sold 148,500 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $32.15, for a total value of $4,774,275.00. The disclosure for this sale can be found here. Insiders sold 253,000 shares of company stock valued at $8,235,425 over the last 90 days. Company insiders own 4.40% of the company’s stock.

Several research firms have commented on MHO. Zacks Investment Research upgraded M/I Homes from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Friday, July 26th. TheStreet upgraded M/I Homes from a “c+” rating to a “b” rating in a research report on Friday, August 2nd. Finally, ValuEngine upgraded M/I Homes from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $31.67.

Shares of MHO stock traded down $0.06 during trading hours on Friday, reaching $36.25. The company had a trading volume of 829 shares, compared to its average volume of 234,151. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.46 and a current ratio of 6.10. The stock has a fifty day moving average of $34.81 and a 200-day moving average of $29.57. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 9.04 and a beta of 1.00. M/I Homes Inc has a 12-month low of $20.34 and a 12-month high of $37.55.

M/I Homes (NYSE:MHO) last posted its quarterly earnings results on Wednesday, July 24th. The construction company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.22. The business had revenue of $623.69 million during the quarter, compared to analyst estimates of $546.04 million. M/I Homes had a return on equity of 13.32% and a net margin of 4.58%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.04 earnings per share. On average, analysts forecast that M/I Homes Inc will post 4.26 EPS for the current year.

About M/I Homes

M/I Homes, Inc, together with its subsidiaries, operates as a builder of single-family homes in Ohio, Indiana, Illinois, Minnesota, Maryland, Virginia, North Carolina, Florida, and Texas, the United States. The company operates through Midwest Homebuilding, Southern Homebuilding, Mid-Atlantic Homebuilding, and Financial Services segments.

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Institutional Ownership by Quarter for M/I Homes (NYSE:MHO)

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