Hennessy Advisors Inc. Purchases Shares of 328,500 M/I Homes, Inc. (NYSE:MHO)

Hennessy Advisors Inc. acquired a new position in shares of M/I Homes, Inc. (NYSE:MHO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 328,500 shares of the construction company’s stock, valued at approximately $43,674,000. M/I Homes comprises approximately 1.3% of Hennessy Advisors Inc.’s holdings, making the stock its 26th largest position.

Other large investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in shares of M/I Homes during the third quarter worth about $27,000. Signaturefd LLC increased its holdings in M/I Homes by 49.4% during the 3rd quarter. Signaturefd LLC now owns 354 shares of the construction company’s stock worth $61,000 after purchasing an additional 117 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of M/I Homes in the third quarter worth approximately $86,000. Private Trust Co. NA bought a new position in shares of M/I Homes in the third quarter valued at approximately $88,000. Finally, Quarry LP boosted its position in shares of M/I Homes by 148.0% during the second quarter. Quarry LP now owns 558 shares of the construction company’s stock valued at $68,000 after buying an additional 333 shares during the last quarter. 95.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MHO. StockNews.com lowered M/I Homes from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 31st. Wedbush upgraded shares of M/I Homes from a “neutral” rating to an “outperform” rating and increased their target price for the company from $155.00 to $185.00 in a report on Monday, November 4th.

M/I Homes Stock Performance

Shares of MHO opened at $137.20 on Friday. The stock has a 50 day moving average of $147.77 and a 200 day moving average of $152.26. The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of 7.35 and a beta of 2.29. M/I Homes, Inc. has a 12 month low of $109.92 and a 12 month high of $176.18. The company has a current ratio of 6.81, a quick ratio of 1.60 and a debt-to-equity ratio of 0.33.

Insider Buying and Selling at M/I Homes

In other news, CFO Phillip G. Creek sold 20,000 shares of M/I Homes stock in a transaction 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 sale, the chief financial officer now directly owns 18,545 shares in the company, valued at $2,967,200. The trade was a 51.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.70% of the company’s stock.

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.