M/I Homes (NYSE:MHO) Shares Gap Down – What’s Next?

Shares of M/I Homes, Inc. (NYSE:MHO) gapped down prior to trading on Tuesday . The stock had previously closed at $160.24, but opened at $150.00. M/I Homes shares last traded at $148.76, with a volume of 33,722 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Raymond James lifted their target price on M/I Homes from $200.00 to $210.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. StockNews.com cut shares of M/I Homes from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 18th.

M/I Homes Price Performance

The firm has a market cap of $4.21 billion, a PE ratio of 8.60 and a beta of 2.23. The stock has a 50 day simple moving average of $162.96 and a two-hundred day simple moving average of $141.69. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.76 and a current ratio of 6.62.

M/I Homes (NYSE:MHO) last posted its earnings results on Tuesday, July 30th. The construction company reported $5.12 EPS for the quarter, topping the consensus estimate of $4.60 by $0.52. M/I Homes had a return on equity of 20.50% and a net margin of 12.67%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the company earned $4.12 earnings per share. Sell-side analysts expect that M/I Homes, Inc. will post 19.76 earnings per share for the current year.

Insider Activity

In related news, CFO Phillip G. Creek sold 2,767 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $166.24, for a total value of $459,986.08. Following the completion of the transaction, the chief financial officer now directly owns 18,545 shares in the company, valued at $3,082,920.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other M/I Homes news, CEO Robert H. Schottenstein sold 2,089 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $166.12, for a total value of $347,024.68. Following the sale, the chief executive officer now directly owns 122,951 shares of the company’s stock, valued at approximately $20,424,620.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Phillip G. Creek sold 2,767 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $166.24, for a total value of $459,986.08. Following the transaction, the chief financial officer now directly owns 18,545 shares of the company’s stock, valued at approximately $3,082,920.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On M/I Homes

Several institutional investors and hedge funds have recently added to or reduced their stakes in MHO. Allspring Global Investments Holdings LLC increased its stake in shares of M/I Homes by 5.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 6,537 shares of the construction company’s stock worth $891,000 after purchasing an additional 325 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of M/I Homes by 1.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,323 shares of the construction company’s stock valued at $1,680,000 after acquiring an additional 205 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of M/I Homes by 50.1% in the first quarter. BNP Paribas Financial Markets now owns 22,663 shares of the construction company’s stock valued at $3,089,000 after acquiring an additional 7,561 shares in the last quarter. Hollencrest Capital Management acquired a new stake in shares of M/I Homes in the first quarter worth approximately $68,000. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of M/I Homes during the first quarter worth approximately $86,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

About M/I Homes

M/I Homes, Inc, together with its subsidiaries, engages in the construction and sale of single-family residential homes in Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee. The company operates through Northern Homebuilding, Southern Homebuilding, and Financial Services segments.