Geode Capital Management LLC Sells 101,680 Shares of M/I Homes, Inc. (NYSE:MHO)

Geode Capital Management LLC lowered its stake in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 14.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 622,117 shares of the construction company's stock after selling 101,680 shares during the period. Geode Capital Management LLC owned 2.24% of M/I Homes worth $82,729,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in MHO. Principal Securities Inc. bought a new position in shares of M/I Homes in the fourth quarter valued at approximately $27,000. R Squared Ltd bought a new position in M/I Homes in the 4th quarter valued at $33,000. Steward Partners Investment Advisory LLC purchased a new position in shares of M/I Homes during the 4th quarter valued at $70,000. Jones Financial Companies Lllp bought a new position in shares of M/I Homes in the fourth quarter worth $80,000. Finally, Smartleaf Asset Management LLC raised its position in shares of M/I Homes by 283.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 667 shares of the construction company's stock worth $88,000 after buying an additional 493 shares in the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MHO. Seaport Res Ptn raised M/I Homes from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. Raymond James reissued a "strong-buy" rating and issued a $168.00 price target (down previously from $210.00) on shares of M/I Homes in a research note on Thursday, January 30th. Finally, StockNews.com upgraded shares of M/I Homes from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th.

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M/I Homes Price Performance

Shares of MHO stock traded down $0.18 during trading hours on Wednesday, hitting $105.96. 24,127 shares of the company's stock were exchanged, compared to its average volume of 286,212. The company has a current ratio of 7.65, a quick ratio of 1.93 and a debt-to-equity ratio of 0.33. M/I Homes, Inc. has a 12-month low of $100.22 and a 12-month high of $176.18. The business's 50 day simple moving average is $115.37 and its 200-day simple moving average is $137.81. The company has a market capitalization of $2.87 billion, a PE ratio of 5.36 and a beta of 1.99.

M/I Homes (NYSE:MHO - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The construction company reported $4.71 earnings per share for the quarter, missing analysts' consensus estimates of $4.96 by ($0.25). M/I Homes had a net margin of 12.51% and a return on equity of 20.20%. On average, equities research analysts anticipate that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

M/I Homes 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.