M/I Homes (NYSE:MHO) Shares Gap Down - Here's Why

M/I Homes, Inc. (NYSE:MHO - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $160.24, but opened at $150.00. M/I Homes shares last traded at $148.76, with a volume of 33,722 shares.

Analyst Upgrades and Downgrades

MHO has been the topic of several recent analyst reports. StockNews.com lowered M/I Homes from a "strong-buy" rating to a "buy" rating in a research note on Friday, October 18th. Raymond James upped their price objective on shares of 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.

M/I Homes Trading Down 4.2 %

The company has a debt-to-equity ratio of 0.33, a current ratio of 6.62 and a quick ratio of 1.76. The company has a market cap of $4.26 billion, a price-to-earnings ratio of 8.73 and a beta of 2.23. The firm's fifty day moving average price is $162.96 and its 200-day moving average price is $141.69.

M/I Homes (NYSE:MHO - Get Free Report) last released its earnings results on Tuesday, July 30th. The construction company reported $5.12 EPS for the quarter, beating the consensus estimate of $4.60 by $0.52. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. M/I Homes had a net margin of 12.67% and a return on equity of 20.50%. During the same period in the prior year, the business earned $4.12 earnings per share. On average, equities analysts expect that M/I Homes, Inc. will post 19.76 EPS for the current fiscal year.

Insider Transactions at M/I Homes

In other news, CFO Phillip G. Creek sold 2,767 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $166.24, for a total transaction of $459,986.08. Following the sale, the chief financial officer now owns 18,545 shares in the company, valued at approximately $3,082,920.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other M/I Homes news, CEO Robert H. Schottenstein sold 2,089 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $166.12, for a total transaction of $347,024.68. Following the completion of the transaction, the chief executive officer now owns 122,951 shares in the company, valued at approximately $20,424,620.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Phillip G. Creek sold 2,767 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $166.24, for a total value of $459,986.08. Following the transaction, the chief financial officer now owns 18,545 shares of the company's stock, valued at approximately $3,082,920.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.70% of the company's stock.

Hedge Funds Weigh In On M/I Homes

Several hedge funds have recently made changes to their positions in MHO. Assenagon Asset Management S.A. boosted its stake in shares of M/I Homes by 260.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 199,877 shares of the construction company's stock worth $34,251,000 after acquiring an additional 144,406 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of M/I Homes by 187.0% in the 2nd quarter. Renaissance Technologies LLC now owns 79,200 shares of the construction company's stock valued at $9,673,000 after purchasing an additional 51,600 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of 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 worth $85,984,000 after acquiring an additional 50,330 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of M/I Homes by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 2,096,407 shares of the construction company's stock valued at $285,719,000 after acquiring an additional 39,542 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its position in M/I Homes by 3.0% during 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. 95.14% of the stock is owned by institutional investors.

M/I Homes Company 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.