Penserra Capital Management LLC Lowers Position in M/I Homes, Inc. (NYSE:MHO)

Penserra Capital Management LLC lowered its stake in shares of M/I Homes, Inc. (NYSE:MHO) by 2.6% during the third quarter, HoldingsChannel.com reports. The firm owned 4,872 shares of the construction company’s stock after selling 128 shares during the period. Penserra Capital Management LLC’s holdings in M/I Homes were worth $834,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Assenagon Asset Management S.A. raised its position in shares of M/I Homes by 42.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 55,471 shares of the construction company’s stock worth $6,775,000 after buying an additional 16,413 shares during the period. Boston Partners purchased a new position in shares of M/I Homes in the 1st quarter worth about $1,210,000. Tidal Investments LLC grew its holdings in shares of M/I Homes by 621.1% during the 1st quarter. Tidal Investments LLC now owns 12,944 shares of the construction company’s stock worth $1,764,000 after purchasing an additional 11,149 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of M/I Homes during the 2nd quarter worth about $1,124,000. Finally, Renaissance Technologies LLC increased its position 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 in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Phillip G. Creek sold 20,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $160.00, for a total value of $3,200,000.00. Following the sale, the chief financial officer now owns 18,545 shares in the company, valued at approximately $2,967,200. This represents a 51.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Raymond James lifted their price target on shares of M/I Homes from $200.00 to $210.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. StockNews.com lowered M/I Homes from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 31st. Finally, Wedbush raised shares of M/I Homes from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $155.00 to $185.00 in a research report on Monday, November 4th.

M/I Homes Stock Down 0.4 %

Shares of NYSE MHO opened at $164.54 on Thursday. 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 1 year low of $103.62 and a 1 year high of $176.18. The stock’s 50-day simple moving average is $162.67 and its 200-day simple moving average is $147.67. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 8.82 and a beta of 2.24.

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.