Short Interest in M/I Homes, Inc. (NYSE:MHO) Declines By 19.6%

14 Oct 2024, 00:17 by Michael Walen · The Markets Daily

M/I Homes, Inc. (NYSE:MHO – Get Free Report) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totalling 916,200 shares, a decrease of 19.6% from the September 15th total of 1,140,000 shares. Approximately 3.4% of the shares of the stock are short sold. Based on an average daily volume of 319,100 shares, the short-interest ratio is currently 2.9 days.

Insider Buying and Selling

In other M/I Homes news, CEO Robert H. Schottenstein sold 2,089 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Robert H. Schottenstein sold 2,089 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $166.12, for a total value of $347,024.68. Following the completion of the transaction, the chief executive officer now directly owns 122,951 shares in the company, valued at approximately $20,424,620.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Phillip G. Creek sold 2,767 shares of the firm’s stock in a transaction dated 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 owns 18,545 shares in the company, valued at $3,082,920.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On M/I Homes

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in M/I Homes by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 2,056,865 shares of the construction company’s stock valued at $283,313,000 after buying an additional 95,437 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in M/I Homes by 187.0% during the second quarter. Renaissance Technologies LLC now owns 79,200 shares of the construction company’s stock worth $9,673,000 after buying an additional 51,600 shares during the period. American Century Companies Inc. boosted its stake in M/I Homes by 7.7% in the second quarter. American Century Companies Inc. now owns 703,983 shares of the construction company’s stock valued at $85,984,000 after acquiring an additional 50,330 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in M/I Homes by 3.0% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,219,989 shares of the construction company’s stock worth $166,272,000 after acquiring an additional 35,558 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in M/I Homes during the 1st quarter valued at approximately $4,281,000. Institutional investors own 95.14% of the company’s stock.

Analyst Upgrades and Downgrades

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

View Our Latest Analysis on M/I Homes

M/I Homes Stock Performance

NYSE:MHO traded up $1.92 during trading hours on Friday, reaching $162.81. The company had a trading volume of 142,442 shares, compared to its average volume of 277,681. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 9.37 and a beta of 2.23. The company has a current ratio of 6.62, a quick ratio of 1.76 and a debt-to-equity ratio of 0.33. The firm’s 50 day moving average price is $158.41 and its 200-day moving average price is $138.60. M/I Homes has a 52 week low of $74.79 and a 52 week high of $173.86.

M/I Homes (NYSE:MHO – Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The construction company reported $5.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.60 by $0.52. M/I Homes had a return on equity of 20.50% and a net margin of 12.67%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the company posted $4.12 EPS. On average, analysts forecast that M/I Homes will post 19.76 EPS for the current year.

M/I Homes Company Profile

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