Seven Eight Capital LP Sells 6,788 Shares of M/I Homes, Inc. (NYSE:MHO)

Seven Eight Capital LP lessened its position in shares of M/I Homes, Inc. (NYSE:MHO) by 52.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,269 shares of the construction company’s stock after selling 6,788 shares during the period. Seven Eight Capital LP’s holdings in M/I Homes were worth $766,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MHO. Signaturefd LLC lifted its holdings in M/I Homes by 42.8% during the 2nd quarter. Signaturefd LLC now owns 237 shares of the construction company’s stock worth $29,000 after purchasing an additional 71 shares during the last quarter. Bay Rivers Group increased its position 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 buying an additional 75 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of 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 worth $69,000 after buying 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 valued at $1,025,000 after acquiring an additional 123 shares during the period. Finally, Belpointe Asset Management LLC grew 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 valued at $1,039,000 after acquiring an additional 124 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Buying and Selling at M/I Homes

In related news, CEO Robert H. Schottenstein sold 2,089 shares of the firm’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 of the company’s stock, valued at $20,424,620.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 shares were sold at an average price of $166.12, for a total transaction of $347,024.68. Following the sale, the chief executive officer now owns 122,951 shares of the company’s stock, valued at $20,424,620.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Phillip G. Creek sold 2,767 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $166.24, for a total value of $459,986.08. Following the sale, the chief financial officer now directly owns 18,545 shares in the company, valued at approximately $3,082,920.80. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

M/I Homes Stock Down 1.5 %

Shares of NYSE MHO opened at $169.58 on Friday. The stock has a market capitalization of $4.71 billion, a P/E ratio of 9.76 and a beta of 2.23. The stock’s fifty day moving average is $155.23 and its 200 day moving average is $134.44. M/I Homes, Inc. has a 52 week low of $74.79 and a 52 week high of $173.86. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.76 and a current ratio of 6.62.

M/I Homes (NYSE:MHO) last released its earnings results 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 net margin of 12.67% and a return on equity of 20.50%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the firm earned $4.12 EPS. Sell-side analysts forecast that M/I Homes, Inc. will post 19.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on MHO shares. Raymond James lifted their price objective on shares of M/I Homes from $200.00 to $210.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. StockNews.com cut shares of M/I Homes from a “strong-buy” rating to a “buy” rating in a report on Thursday.

M/I Homes Company Profile

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.