William Blair Investment Management LLC Makes New Investment in M/I Homes, Inc. $MHO

William Blair Investment Management LLC acquired a new stake in M/I Homes, Inc. (NYSE:MHO – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 122,870 shares of the construction company’s stock, valued at approximately $19,756,000.

Several other hedge funds have also recently modified their holdings of the company. Hilton Head Capital Partners LLC purchased a new position in shares of M/I Homes in the 4th quarter worth approximately $28,000. EverSource Wealth Advisors LLC increased its position in shares of M/I Homes by 90.6% during the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock valued at $32,000 after acquiring an additional 135 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in M/I Homes during the fourth quarter worth $49,000. Versant Capital Management Inc lifted its holdings in M/I Homes by 133.7% during the second quarter. Versant Capital Management Inc now owns 409 shares of the construction company’s stock worth $66,000 after acquiring an additional 234 shares during the period. Finally, CIBC Private Wealth Group LLC grew its stake in M/I Homes by 53.7% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 475 shares of the construction company’s stock valued at $69,000 after purchasing an additional 166 shares during the period. Institutional investors own 95.14% of the company’s stock.

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M/I Homes Stock Up 1.6%

Shares of NYSE MHO opened at $152.29 on Friday. The company has a quick ratio of 1.69, a current ratio of 7.65 and a debt-to-equity ratio of 0.29. The company has a market cap of $3.85 billion, a P/E ratio of 12.82 and a beta of 1.60. M/I Homes, Inc. has a 52 week low of $116.78 and a 52 week high of $163.66. The business has a 50-day simple moving average of $150.75 and a two-hundred day simple moving average of $138.73.

M/I Homes (NYSE:MHO – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The construction company reported $3.14 earnings per share for the quarter, beating the consensus estimate of $3.13 by $0.01. M/I Homes had a return on equity of 11.53% and a net margin of 7.44%.The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the business posted $4.42 earnings per share. The company’s revenue was down 6.0% on a year-over-year basis. Research analysts anticipate that M/I Homes, Inc. will post 12.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Phillip G. Creek sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Freedom Capital upgraded shares of M/I Homes to a “strong-buy” rating in a report on Wednesday, June 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of M/I Homes in a report on Wednesday, August 12th. New Street Research set a $172.00 price objective on shares of M/I Homes in a research note on Tuesday, August 4th. Zacks Research raised shares of M/I Homes from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. Finally, Zelman & Associates downgraded M/I Homes from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.25.

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M/I Homes Company Profile

(Free Report)

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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