Range Financial Group LLC Purchases Shares of 6,271 M/I Homes, Inc. (NYSE:MHO)

Range Financial Group LLC acquired a new position in shares of M/I Homes, Inc. (NYSE:MHO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,271 shares of the construction company’s stock, valued at approximately $834,000.

A number of other hedge funds also recently made changes to their positions in MHO. Nordea Investment Management AB grew its holdings in M/I Homes by 3.6% during the 4th quarter. Nordea Investment Management AB now owns 85,309 shares of the construction company’s stock worth $11,379,000 after acquiring an additional 2,971 shares during the period. JPMorgan Chase & Co. grew its stake in M/I Homes by 5.7% during the third quarter. JPMorgan Chase & Co. now owns 267,684 shares of the construction company’s stock worth $45,870,000 after purchasing an additional 14,321 shares during the period. Cim Investment Management Inc. bought a new stake in M/I Homes in the third quarter worth approximately $246,000. World Investment Advisors LLC bought a new stake in M/I Homes in the third quarter worth approximately $4,698,000. Finally, Invst LLC lifted its stake in M/I Homes by 20.7% in the third quarter. Invst LLC now owns 3,395 shares of the construction company’s stock valued at $582,000 after buying an additional 582 shares during the period. 95.14% of the stock is currently owned by institutional investors.

Insider Activity at M/I Homes

In other news, CFO Phillip G. Creek sold 20,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $160.00, for a total value of $3,200,000.00. Following the completion of the transaction, the chief financial officer now directly owns 18,545 shares of the company’s stock, valued at $2,967,200. This trade represents a 51.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MHO. Wedbush upgraded shares of 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 lowered shares of M/I Homes from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 31st.

M/I Homes Stock Performance

Shares of NYSE:MHO traded down $3.46 during midday trading on Tuesday, reaching $126.75. The company had a trading volume of 422,016 shares, compared to its average volume of 275,874. The stock has a market cap of $3.52 billion, a P/E ratio of 6.79 and a beta of 2.29. The company’s 50 day moving average price is $151.95 and its 200 day moving average price is $152.18. The company has a current ratio of 6.81, a quick ratio of 1.60 and a debt-to-equity ratio of 0.33. M/I Homes, Inc. has a 52-week low of $109.92 and a 52-week high of $176.18.

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.