Inceptionr LLC Invests $214,000 in M/I Homes, Inc. $MHO

Inceptionr LLC bought a new stake in M/I Homes, Inc. (NYSE:MHO - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,905 shares of the construction company's stock, valued at approximately $214,000.

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A number of other hedge funds have also bought and sold shares of MHO. KLP Kapitalforvaltning AS increased its holdings in M/I Homes by 1.3% in the second quarter. KLP Kapitalforvaltning AS now owns 7,800 shares of the construction company's stock valued at $875,000 after buying an additional 100 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of M/I Homes by 1.8% in the 2nd quarter. Bank of Montreal Can now owns 6,295 shares of the construction company's stock valued at $706,000 after acquiring an additional 113 shares during the last quarter. SummerHaven Investment Management LLC raised its position in shares of M/I Homes by 2.1% during the 2nd quarter. SummerHaven Investment Management LLC now owns 6,576 shares of the construction company's stock valued at $737,000 after acquiring an additional 133 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in M/I Homes by 10.7% during the second quarter. PNC Financial Services Group Inc. now owns 1,515 shares of the construction company's stock worth $170,000 after purchasing an additional 146 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in M/I Homes by 58.6% in the second quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the construction company's stock worth $52,000 after purchasing an additional 170 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

M/I Homes Trading Down 1.4%

Shares of NYSE:MHO opened at $137.59 on Monday. The company has a quick ratio of 1.52, a current ratio of 7.17 and a debt-to-equity ratio of 0.29. The company's 50-day moving average price is $134.16 and its 200 day moving average price is $128.17. The company has a market cap of $3.60 billion, a PE ratio of 8.08 and a beta of 1.66. M/I Homes, Inc. has a fifty-two week low of $100.22 and a fifty-two week high of $168.50.

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M/I Homes (NYSE:MHO - Get Free Report) last announced its quarterly earnings results on Wednesday, October 22nd. The construction company reported $3.92 EPS for the quarter, missing the consensus estimate of $4.37 by ($0.45). The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.16 billion. M/I Homes had a net margin of 10.56% and a return on equity of 15.72%. The business's quarterly revenue was down 1.4% compared to the same quarter last year. Sell-side analysts anticipate that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

M/I Homes announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, November 12th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the construction company to buy up to 7.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MHO shares. Zacks Research raised shares of M/I Homes from a "strong sell" rating to a "hold" rating in a report on Friday, September 26th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of M/I Homes in a research report on Wednesday, October 8th. Raymond James Financial raised their target price on shares of M/I Homes from $150.00 to $155.00 and gave the stock a "strong-buy" rating in a report on Friday, October 24th. Finally, Zelman & Associates upgraded M/I Homes from a "neutral" rating to an "outperform" rating in a research note on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, M/I Homes presently has a consensus rating of "Buy" and an average target price of $155.00.

Read Our Latest Stock Analysis on M/I Homes

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.

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