Range Financial Group LLC Buys New Position in M/I Homes, Inc. (NYSE:MHO)

Range Financial Group LLC purchased 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 filing with the Securities and Exchange Commission (SEC). The fund purchased 6,271 shares of the construction company's stock, valued at approximately $834,000.

Several other institutional investors also recently modified their holdings of the business. Canada Pension Plan Investment Board bought a new stake in shares of M/I Homes in the 2nd quarter valued at about $1,124,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in M/I Homes during the 3rd quarter valued at approximately $1,388,000. Renaissance Technologies LLC raised its holdings in M/I Homes by 187.0% during the 2nd quarter. Renaissance Technologies LLC now owns 79,200 shares of the construction company's stock worth $9,673,000 after purchasing an additional 51,600 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of M/I Homes in the 3rd quarter worth approximately $4,698,000. Finally, Algert Global LLC lifted its position in shares of M/I Homes by 23.8% in the 2nd quarter. Algert Global LLC now owns 63,105 shares of the construction company's stock worth $7,708,000 after purchasing an additional 12,123 shares during the period. Institutional investors own 95.14% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, CFO Phillip G. Creek sold 20,000 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 represents a 51.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.70% of the stock is owned by insiders.

M/I Homes Trading Down 2.7 %

Shares of MHO stock traded down $3.46 during trading hours on Tuesday, hitting $126.75. 422,016 shares of the company were exchanged, compared to its average volume of 275,879. The company has a 50 day simple moving average of $151.95 and a two-hundred day simple moving average of $152.18. The firm has a market cap of $3.52 billion, a P/E ratio of 6.79 and a beta of 2.29. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.60 and a current ratio of 6.81. M/I Homes, Inc. has a fifty-two week low of $109.92 and a fifty-two week high of $176.18.

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.