Readystate Asset Management LP purchased a new position in shares of M/I Homes, Inc. (NYSE:MHO – Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 16,674 shares of the construction company’s stock, valued at approximately $2,042,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. raised its stake in shares of M/I Homes by 5.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,463,340 shares of the construction company’s stock worth $187,234,000 after acquiring an additional 82,090 shares during the last quarter. State Street Corp increased its holdings in shares of M/I Homes by 2.2% in the fourth quarter. State Street Corp now owns 1,337,188 shares of the construction company’s stock valued at $171,093,000 after purchasing an additional 28,187 shares in the last quarter. Millennium Management LLC raised its position in M/I Homes by 107.5% in the 4th quarter. Millennium Management LLC now owns 434,484 shares of the construction company’s stock worth $55,592,000 after purchasing an additional 225,120 shares during the last quarter. Royce & Associates LP raised its position in M/I Homes by 5.3% in the 4th quarter. Royce & Associates LP now owns 326,606 shares of the construction company’s stock worth $41,789,000 after purchasing an additional 16,445 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in M/I Homes by 116.4% during the 3rd quarter. Invesco Ltd. now owns 300,912 shares of the construction company’s stock worth $43,464,000 after buying an additional 161,881 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have commented on MHO shares. Zacks Research upgraded M/I Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. Seaport Research Partners reiterated a “neutral” rating on shares of M/I Homes in a report on Tuesday, April 7th. Freedom Capital raised M/I Homes to a “strong-buy” rating in a report on Wednesday, June 24th. Zelman & Associates lowered shares of M/I Homes from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of M/I Homes in a report on Friday, May 15th. 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $161.67.
M/I Homes Stock Up 1.9%
M/I Homes stock opened at $151.81 on Wednesday. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of 11.43 and a beta of 1.60. The company’s 50 day simple moving average is $145.14 and its 200 day simple moving average is $136.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 8.40 and a quick ratio of 1.95. M/I Homes, Inc. has a fifty-two week low of $116.78 and a fifty-two week high of $163.66.
M/I Homes 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.
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