Crown Advisors Management Inc. Sells 40,000 Shares of M/I Homes, Inc. (NYSE:MHO)

Crown Advisors Management Inc. reduced its stake in shares of M/I Homes, Inc. (NYSE:MHO) by 40.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 60,000 shares of the construction company’s stock after selling 40,000 shares during the quarter. M/I Homes accounts for approximately 1.9% of Crown Advisors Management Inc.’s portfolio, making the stock its 27th largest position. Crown Advisors Management Inc.’s holdings in M/I Homes were worth $2,657,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Nisa Investment Advisors LLC purchased a new stake in M/I Homes during the third quarter valued at about $39,000. Patriot Financial Group Insurance Agency LLC increased its position in shares of M/I Homes by 1,100.0% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,200 shares of the construction company’s stock valued at $53,000 after purchasing an additional 1,100 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of M/I Homes by 244.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,666 shares of the construction company’s stock valued at $77,000 after purchasing an additional 1,183 shares during the last quarter. US Bancorp DE raised its holdings in shares of M/I Homes by 340.6% during the 4th quarter. US Bancorp DE now owns 3,014 shares of the construction company’s stock valued at $134,000 after buying an additional 2,330 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in M/I Homes by 32.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,489 shares of the construction company’s stock worth $155,000 after buying an additional 858 shares during the last quarter. Institutional investors own 96.12% of the company’s stock.

A number of brokerages have recently weighed in on MHO. Wedbush restated a “neutral” rating on shares of M/I Homes in a report on Tuesday, February 2nd. Zacks Investment Research raised M/I Homes from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Saturday, February 6th.

In other news, CEO Robert H. Schottenstein sold 19,200 shares of the stock in a transaction on Friday, February 19th. The stock was sold at an average price of $51.99, for a total value of $998,208.00. Also, CEO Robert H. Schottenstein sold 3,358 shares of the firm’s stock in a transaction on Thursday, February 4th. The shares were sold at an average price of $50.32, for a total value of $168,974.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,247 shares of company stock valued at $2,981,753. Corporate insiders own 3.20% of the company’s stock.

Shares of M/I Homes stock traded down $1.31 on Tuesday, hitting $50.55. The stock had a trading volume of 8,572 shares, compared to its average volume of 330,886. The stock’s 50-day simple moving average is $49.98 and its two-hundred day simple moving average is $46.06. M/I Homes, Inc. has a one year low of $9.62 and a one year high of $57.66. The company has a quick ratio of 0.86, a current ratio of 5.47 and a debt-to-equity ratio of 0.67. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 7.48 and a beta of 2.11.

M/I Homes (NYSE:MHO) last posted its earnings results on Tuesday, February 2nd. The construction company reported $2.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.43 by $0.52. M/I Homes had a return on equity of 19.06% and a net margin of 6.99%. The firm had revenue of $906.20 million for the quarter, compared to analysts’ expectations of $961.99 million. During the same period in the previous year, the firm earned $1.44 earnings per share. The business’s revenue was up 22.1% compared to the same quarter last year. As a group, equities analysts predict that M/I Homes, Inc. will post 8.44 EPS for the current fiscal year.

M/I Homes Company Profile

M/I Homes, Inc, together with its subsidiaries, operates as a builder of single-family homes in Ohio, Indiana, Illinois, Michigan, Minnesota, North Carolina, Florida, and Texas, the United States. The company operates through Northern Homebuilding, Southern Homebuilding, and Financial Services segments.

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Institutional Ownership by Quarter for M/I Homes (NYSE:MHO)

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