GSA Capital Partners LLP Invests $1.44 Million in M/I Homes, Inc. $MHO

GSA Capital Partners LLP bought a new stake in M/I Homes, Inc. (NYSE:MHO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,928 shares of the construction company’s stock, valued at approximately $1,436,000.

A number of other institutional investors and hedge funds have also made changes to their positions in MHO. Langley Wealth Management LLC purchased a new position in M/I Homes during the second quarter worth about $45,000. Butensky & Cohen Financial Security Inc. purchased a new stake in M/I Homes in the 2nd quarter valued at approximately $209,000. Paladin Wealth LLC purchased a new stake in M/I Homes in the 2nd quarter valued at approximately $231,000. Gradient Investments LLC increased its position in M/I Homes by 1.6% during the 2nd quarter. Gradient Investments LLC now owns 121,911 shares of the construction company’s stock worth $19,602,000 after purchasing an additional 1,895 shares during the period. Finally, GAMMA Investing LLC increased its position in M/I Homes by 9.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,121 shares of the construction company’s stock worth $341,000 after purchasing an additional 190 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

M/I Homes Trading Down 0.1%

Shares of MHO opened at $152.03 on Monday. The company has a current ratio of 7.65, a quick ratio of 1.69 and a debt-to-equity ratio of 0.29. The firm’s 50-day moving average is $149.58 and its two-hundred day moving average is $138.12. M/I Homes, Inc. has a twelve month low of $116.78 and a twelve month high of $163.66. The firm has a market capitalization of $3.84 billion, a P/E ratio of 12.80 and a beta of 1.60.

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, CFO Phillip G. Creek sold 20,000 shares of M/I Homes stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $149.56, for a total transaction of $2,991,200.00. Following the completion of the transaction, the chief financial officer directly owned 30,918 shares of the company’s stock, valued at approximately $4,624,096.08. The trade was a 39.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 3.60% of the stock is owned by insiders.

M/I Homes Company 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.