Aristeia Capital L.L.C. Takes Position in M/I Homes, Inc. (NYSE:MHO)

Aristeia Capital L.L.C. bought a new position in M/I Homes, Inc. (NYSE:MHO) during the 2nd quarter, HoldingsChannel reports. The fund bought 3,888 shares of the construction company’s stock, valued at approximately $475,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MHO. Vanguard Group Inc. increased its position in shares of M/I Homes by 4.9% in the fourth quarter. Vanguard Group Inc. now owns 2,056,865 shares of the construction company’s stock valued at $283,313,000 after acquiring an additional 95,437 shares during the period. Vision Capital Corp bought a new stake in shares of M/I Homes in the fourth quarter worth about $11,078,000. Comerica Bank increased its holdings in M/I Homes by 57.0% during the 4th quarter. Comerica Bank now owns 178,447 shares of the construction company’s stock valued at $24,579,000 after purchasing an additional 64,766 shares during the period. Renaissance Technologies LLC raised its position in M/I Homes by 187.0% during the 2nd quarter. Renaissance Technologies LLC now owns 79,200 shares of the construction company’s stock valued at $9,673,000 after purchasing an additional 51,600 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in M/I Homes by 7.7% in the 2nd quarter. American Century Companies Inc. now owns 703,983 shares of the construction company’s stock worth $85,984,000 after buying an additional 50,330 shares during the period. 95.14% of the stock is currently owned by institutional investors.

Insider Activity at M/I Homes

In other M/I Homes news, CFO Phillip G. Creek sold 2,767 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $166.24, for a total transaction of $459,986.08. Following the completion of the transaction, the chief financial officer now owns 18,545 shares of the company’s stock, valued at $3,082,920.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other M/I Homes news, CEO Robert H. Schottenstein sold 2,089 shares of the business’s stock in a transaction 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 $20,424,620.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Phillip G. Creek sold 2,767 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 18,545 shares in the company, valued at $3,082,920.80. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MHO. Raymond James lifted their price target on shares of M/I Homes from $200.00 to $210.00 and gave the company 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 report on Thursday, September 19th.

M/I Homes Trading Up 0.8 %

MHO opened at $170.96 on Tuesday. The company has a quick ratio of 1.76, a current ratio of 6.62 and a debt-to-equity ratio of 0.33. M/I Homes, Inc. has a 52 week low of $74.79 and a 52 week high of $173.86. The stock has a market cap of $4.74 billion, a PE ratio of 9.84 and a beta of 2.23. The business has a 50 day moving average of $155.90 and a 200-day moving average of $134.81.

M/I Homes (NYSE:MHO) last announced its quarterly earnings data on Tuesday, July 30th. The construction company reported $5.12 EPS for the quarter, beating 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 business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the firm posted $4.12 earnings per share. Equities research analysts predict that M/I Homes, Inc. will post 19.76 earnings per share for the current fiscal year.

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.