Pacer Advisors Inc. Trims Stake in M/I Homes, Inc. (NYSE:MHO)

Pacer Advisors Inc. cut its stake in shares of M/I Homes, Inc. (NYSE:MHO) by 21.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,172,327 shares of the construction company’s stock after selling 313,986 shares during the period. Pacer Advisors Inc. owned about 4.22% of M/I Homes worth $143,188,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Signaturefd LLC raised its stake in shares of M/I Homes by 42.8% in the second quarter. Signaturefd LLC now owns 237 shares of the construction company’s stock worth $29,000 after buying an additional 71 shares during the period. Bay Rivers Group raised its stake in M/I Homes by 1.7% during the 2nd quarter. Bay Rivers Group now owns 4,458 shares of the construction company’s stock worth $544,000 after acquiring an additional 75 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in M/I Homes by 28.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 500 shares of the construction company’s stock valued at $69,000 after purchasing an additional 110 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in shares of M/I Homes by 1.5% in the second quarter. SummerHaven Investment Management LLC now owns 8,393 shares of the construction company’s stock worth $1,025,000 after purchasing an additional 123 shares during the period. Finally, Belpointe Asset Management LLC increased its stake in shares of M/I Homes by 1.5% in the second quarter. Belpointe Asset Management LLC now owns 8,506 shares of the construction company’s stock worth $1,039,000 after purchasing an additional 124 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

M/I Homes Trading Down 1.6 %

Shares of MHO opened at $169.47 on Friday. The firm has a market cap of $4.70 billion, a P/E ratio of 9.75 and a beta of 2.23. The company has a debt-to-equity ratio of 0.33, a current ratio of 6.62 and a quick ratio of 1.76. M/I Homes, Inc. has a 1 year low of $74.79 and a 1 year high of $173.86. The company has a 50 day simple moving average of $155.23 and a two-hundred day simple moving average of $134.36.

M/I Homes (NYSE:MHO) last posted its earnings results on Tuesday, July 30th. The construction company reported $5.12 earnings per share for the quarter, beating the consensus estimate of $4.60 by $0.52. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. M/I Homes had a net margin of 12.67% and a return on equity of 20.50%. During the same period last year, the company posted $4.12 earnings per share. On average, equities analysts expect that M/I Homes, Inc. will post 19.76 earnings per share for the current fiscal year.

Insider Transactions at M/I Homes

In related news, CEO Robert H. Schottenstein sold 2,089 shares of the business’s stock in a transaction dated 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 in the company, valued at $20,424,620.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other M/I Homes news, CFO Phillip G. Creek sold 2,767 shares of the stock in a transaction 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 in the company, valued at $3,082,920.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert H. Schottenstein sold 2,089 shares of M/I Homes stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $166.12, for a total transaction of $347,024.68. Following the completion of the transaction, the chief executive officer now directly owns 122,951 shares of the company’s stock, valued at $20,424,620.12. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

MHO has been the topic of a number of analyst reports. Raymond James lifted their target price on shares of M/I Homes from $200.00 to $210.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. StockNews.com downgraded M/I Homes from a “strong-buy” rating to a “buy” rating in a research report on Thursday.

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.