Citadel Advisors LLC Raises Position in M/I Homes Inc (MHO)

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Citadel Advisors LLC lifted its stake in M/I Homes Inc (NYSE:MHO) by 313.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 105,242 shares of the construction company’s stock after purchasing an additional 79,757 shares during the period. Citadel Advisors LLC owned 0.37% of M/I Homes worth $2,786,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MHO. Rhumbline Advisers grew its holdings in M/I Homes by 4.0% during the 1st quarter. Rhumbline Advisers now owns 69,430 shares of the construction company’s stock worth $2,211,000 after acquiring an additional 2,672 shares during the period. Virginia Retirement Systems ET AL acquired a new stake in M/I Homes during the 1st quarter worth $866,000. Swiss National Bank grew its holdings in M/I Homes by 8.3% during the 1st quarter. Swiss National Bank now owns 48,100 shares of the construction company’s stock worth $1,532,000 after acquiring an additional 3,700 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in M/I Homes by 21.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 200,331 shares of the construction company’s stock worth $6,381,000 after acquiring an additional 35,252 shares during the period. Finally, US Bancorp DE grew its holdings in M/I Homes by 11,290.4% during the 1st quarter. US Bancorp DE now owns 15,377 shares of the construction company’s stock worth $489,000 after acquiring an additional 15,242 shares during the period. 96.12% of the stock is owned by institutional investors and hedge funds.

In other news, insider Phillip G. Creek sold 18,880 shares of the business’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $26.50, for a total value of $500,320.00. Following the completion of the transaction, the insider now owns 6,513 shares of the company’s stock, valued at approximately $172,594.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert H. Schottenstein sold 13,143 shares of the business’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $26.31, for a total transaction of $345,792.33. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.

A number of analysts have commented on MHO shares. Zacks Investment Research lowered shares of M/I Homes from a “hold” rating to a “strong sell” rating in a report on Saturday, July 28th. ValuEngine lowered shares of M/I Homes from a “hold” rating to a “sell” rating in a report on Saturday, June 2nd. Two analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $40.00.

MHO opened at $25.07 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 6.15 and a quick ratio of 0.64. M/I Homes Inc has a 52 week low of $24.28 and a 52 week high of $37.41. The firm has a market cap of $740.27 million, a price-to-earnings ratio of 9.05 and a beta of 1.09.

M/I Homes (NYSE:MHO) last announced its quarterly earnings results on Wednesday, July 25th. The construction company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.08. M/I Homes had a net margin of 3.91% and a return on equity of 12.69%. The company had revenue of $558.10 million during the quarter, compared to analyst estimates of $527.00 million. During the same quarter in the previous year, the business earned $0.73 EPS. The firm’s revenue was up 22.1% on a year-over-year basis. equities analysts expect that M/I Homes Inc will post 3.93 EPS for the current year.

M/I Homes declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 14th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the construction company to buy up to 6.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

M/I Homes Profile

M/I Homes, Inc, together with its subsidiaries, operates as a builder of single-family homes in Ohio, Indiana, Illinois, Minnesota, Maryland, Virginia, North Carolina, Florida, and Texas, the United States. The company operates through Midwest Homebuilding, Southern Homebuilding, Mid-Atlantic Homebuilding, and Financial Services segments.

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Institutional Ownership by Quarter for M/I Homes (NYSE:MHO)

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