Hennessy Advisors Inc. Buys New Holdings in M/I Homes, Inc. (NYSE:MHO)

Hennessy Advisors Inc. acquired a new position in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 328,500 shares of the construction company's stock, valued at approximately $43,674,000. M/I Homes makes up about 1.3% of Hennessy Advisors Inc.'s investment portfolio, making the stock its 26th largest position. Hennessy Advisors Inc. owned 1.18% of M/I Homes as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MHO. V Square Quantitative Management LLC purchased a new stake in shares of M/I Homes in the third quarter worth about $27,000. Signaturefd LLC lifted its stake in M/I Homes by 49.4% in the 3rd quarter. Signaturefd LLC now owns 354 shares of the construction company's stock worth $61,000 after purchasing an additional 117 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in M/I Homes in the 3rd quarter worth approximately $86,000. Private Trust Co. NA bought a new position in M/I Homes in the 3rd quarter valued at $88,000. Finally, Quarry LP grew its position in shares of M/I Homes by 148.0% during the 2nd quarter. Quarry LP now owns 558 shares of the construction company's stock valued at $68,000 after purchasing an additional 333 shares in the last quarter. Institutional investors own 95.14% of the company's stock.

M/I Homes Price Performance

Shares of M/I Homes stock traded up $1.25 on Friday, hitting $138.27. 357,294 shares of the company traded hands, compared to its average volume of 283,906. M/I Homes, Inc. has a 12-month low of $109.92 and a 12-month high of $176.18. The company has a current ratio of 6.81, a quick ratio of 1.60 and a debt-to-equity ratio of 0.33. The company has a market cap of $3.84 billion, a P/E ratio of 7.41 and a beta of 2.29. The firm's 50-day simple moving average is $147.20 and its 200 day simple moving average is $152.65.

Insider Buying and Selling at M/I Homes

In other M/I Homes news, CFO Phillip G. Creek sold 20,000 shares of M/I Homes stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $160.00, for a total transaction of $3,200,000.00. Following the transaction, the chief financial officer now directly owns 18,545 shares of the company's stock, valued at approximately $2,967,200. This trade represents a 51.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.70% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MHO. StockNews.com downgraded M/I Homes from a "strong-buy" rating to a "buy" rating in a research report on Thursday, October 31st. Wedbush raised M/I Homes from a "neutral" rating to an "outperform" rating and raised their price target for the company from $155.00 to $185.00 in a report on Monday, November 4th.

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.