M/I Homes, Inc. (NYSE:MHO) Sees Significant Decline in Short Interest

M/I Homes, Inc. (NYSE:MHO) was the target of a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 722,400 shares, a decline of 17.1% from the March 31st total of 871,400 shares. Currently, 2.6% of the shares of the company are sold short. Based on an average trading volume of 274,500 shares, the short-interest ratio is presently 2.6 days.

Analyst Upgrades and Downgrades

MHO has been the topic of a number of analyst reports. StockNews.com raised shares of M/I Homes from a “buy” rating to a “strong-buy” rating in a research note on Friday. Wedbush restated a “neutral” rating and set a $130.00 price target (up previously from $116.00) on shares of M/I Homes in a research report on Wednesday, April 24th.

M/I Homes Price Performance

Shares of M/I Homes stock traded up $1.15 on Monday, hitting $121.22. The company’s stock had a trading volume of 231,267 shares, compared to its average volume of 273,172. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 6.92 and a beta of 2.13. M/I Homes has a 1 year low of $65.42 and a 1 year high of $140.73. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.86 and a current ratio of 6.51. The firm has a fifty day moving average price of $123.21 and a 200-day moving average price of $116.54.

M/I Homes (NYSE:MHO) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $4.78 EPS for the quarter, beating the consensus estimate of $3.96 by $0.82. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. M/I Homes had a return on equity of 20.26% and a net margin of 12.27%. As a group, sell-side analysts anticipate that M/I Homes will post 18.18 earnings per share for the current fiscal year.

Insider Buying and Selling at M/I Homes

In other M/I Homes news, insider Ann Marie Hunker sold 2,461 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $128.51, for a total transaction of $316,263.11. Following the sale, the insider now directly owns 2,342 shares of the company’s stock, valued at approximately $300,970.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On M/I Homes

A number of institutional investors have recently added to or reduced their stakes in the stock. Voss Capital LLC purchased a new position in M/I Homes during the fourth quarter valued at $3,444,000. Seven Eight Capital LP acquired a new position in shares of M/I Homes during the 3rd quarter worth about $247,000. Vanguard Group Inc. lifted its stake in M/I Homes by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,961,428 shares of the construction company’s stock valued at $164,838,000 after buying an additional 43,417 shares in the last quarter. Stratos Wealth Partners LTD. boosted its holdings in M/I Homes by 143.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 26,284 shares of the construction company’s stock worth $3,620,000 after buying an additional 15,481 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in M/I Homes in the 4th quarter worth about $9,262,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

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.