Insider Selling: M/I Homes, Inc. (NYSE:MHO) CEO Sells 19,200 Shares of Stock

M/I Homes, Inc. (NYSE:MHO) CEO Robert H. Schottenstein sold 19,200 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $122.00, for a total value of $2,342,400.00. Following the completion of the sale, the chief executive officer now owns 122,951 shares of the company’s stock, valued at $15,000,022. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

M/I Homes Price Performance

MHO opened at $116.34 on Thursday. The stock’s 50-day moving average price is $123.15 and its 200 day moving average price is $117.08. M/I Homes, Inc. has a 12-month low of $65.42 and a 12-month high of $140.73. The company has a current ratio of 6.91, a quick ratio of 1.86 and a debt-to-equity ratio of 0.35. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 6.69 and a beta of 2.13.

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

Wall Street Analysts Forecast Growth

MHO has been the subject of a number of research analyst reports. Wedbush reiterated a “neutral” rating and set a $130.00 price target (up from $116.00) on shares of M/I Homes in a report on Wednesday, April 24th. StockNews.com upgraded M/I Homes from a “buy” rating to a “strong-buy” rating in a report on Friday, April 26th.

Hedge Funds Weigh In On M/I Homes

Several hedge funds have recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its stake in M/I Homes by 7.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,245 shares of the construction company’s stock worth $171,000 after acquiring an additional 84 shares in the last quarter. SummerHaven Investment Management LLC raised its position in M/I Homes by 1.1% in the 4th quarter. SummerHaven Investment Management LLC now owns 8,198 shares of the construction company’s stock valued at $1,129,000 after purchasing an additional 88 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in M/I Homes by 28.2% in the 4th 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. USA Financial Formulas raised its position in M/I Homes by 578.1% in the 4th quarter. USA Financial Formulas now owns 217 shares of the construction company’s stock valued at $30,000 after purchasing an additional 185 shares in the last quarter. Finally, Strs Ohio raised its position in M/I Homes by 200.0% in the 3rd quarter. Strs Ohio now owns 300 shares of the construction company’s stock valued at $25,000 after purchasing an additional 200 shares in the last quarter. 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.