Magnetar Financial LLC Makes New Investment in M/I Homes, Inc. (NYSE:MHO)

Magnetar Financial LLC bought a new stake in M/I Homes, Inc. (NYSE:MHO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,565 shares of the construction company's stock, valued at approximately $341,000.

Several other hedge funds have also made changes to their positions in MHO. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in M/I Homes during the 3rd quarter valued at approximately $1,365,000. Intech Investment Management LLC increased its holdings in shares of M/I Homes by 100.5% in the third quarter. Intech Investment Management LLC now owns 9,245 shares of the construction company's stock valued at $1,584,000 after purchasing an additional 4,635 shares during the period. Foundry Partners LLC purchased a new stake in shares of M/I Homes during the third quarter worth approximately $393,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of M/I Homes by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 462,081 shares of the construction company's stock worth $79,182,000 after purchasing an additional 19,754 shares during the period. Finally, Citigroup Inc. grew its position in M/I Homes by 48.4% in the 3rd quarter. Citigroup Inc. now owns 55,705 shares of the construction company's stock valued at $9,546,000 after buying an additional 18,173 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

Wall Street Analysts Forecast Growth

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

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M/I Homes Price Performance

M/I Homes stock traded down $1.24 during midday trading on Thursday, reaching $116.69. The company's stock had a trading volume of 159,991 shares, compared to its average volume of 274,940. The firm has a market capitalization of $3.16 billion, a PE ratio of 5.92 and a beta of 2.31. M/I Homes, Inc. has a fifty-two week low of $109.92 and a fifty-two week high of $176.18. The stock's 50 day simple moving average is $122.19 and its 200 day simple moving average is $143.71. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.93 and a current ratio of 7.65.

M/I Homes (NYSE:MHO - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The construction company reported $4.71 earnings per share (EPS) 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 forecast 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.