Virtus Investment Advisers Inc. Takes $788,000 Position in M/I Homes, Inc. (NYSE:MHO)

Virtus Investment Advisers Inc. purchased a new position in M/I Homes, Inc. (NYSE:MHO - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,600 shares of the construction company's stock, valued at approximately $788,000.

Several other large investors also recently added to or reduced their stakes in the stock. Weiss Asset Management LP purchased a new position in M/I Homes during the third quarter worth $405,000. Quadrature Capital Ltd bought a new stake in shares of M/I Homes in the 3rd quarter worth about $351,000. Petrus Trust Company LTA purchased a new position in shares of M/I Homes during the 3rd quarter worth about $1,018,000. HighTower Advisors LLC grew its holdings in M/I Homes by 19.1% during the 3rd quarter. HighTower Advisors LLC now owns 2,597 shares of the construction company's stock valued at $447,000 after purchasing an additional 416 shares during the last quarter. Finally, Centiva Capital LP purchased a new stake in M/I Homes in the 3rd quarter worth about $759,000. 95.14% of the stock is owned by institutional investors.

M/I Homes Trading Down 0.3 %

MHO traded down $0.46 on Friday, reaching $159.35. 219,735 shares of the company traded hands, compared to its average volume of 221,623. The company has a quick ratio of 1.60, a current ratio of 6.81 and a debt-to-equity ratio of 0.33. The company has a market cap of $4.42 billion, a P/E ratio of 8.54 and a beta of 2.23. The firm has a fifty day simple moving average of $162.05 and a two-hundred day simple moving average of $149.25. M/I Homes, Inc. has a one year low of $109.92 and a one year high of $176.18.

Insider Activity

In other M/I Homes news, CFO Phillip G. Creek sold 20,000 shares of the firm's stock in a transaction dated 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 owns 18,545 shares of the company's stock, valued at approximately $2,967,200. This trade represents a 51.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wedbush upgraded M/I Homes from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $155.00 to $185.00 in a research report on Monday, November 4th. StockNews.com downgraded M/I Homes from a "strong-buy" rating to a "buy" rating in a research report on Thursday, October 31st.

About M/I Homes

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.