Connor Clark & Lunn Investment Management Ltd. Makes New $1.37 Million Investment in M/I Homes, Inc. (NYSE:MHO)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of M/I Homes, Inc. (NYSE:MHO) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 7,964 shares of the construction company’s stock, valued at approximately $1,365,000.

Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its holdings in M/I Homes by 42.0% during the second quarter. Assenagon Asset Management S.A. now owns 55,471 shares of the construction company’s stock valued at $6,775,000 after buying an additional 16,413 shares during the last quarter. Boston Partners bought a new stake in shares of M/I Homes during the 1st quarter valued at $1,210,000. Tidal Investments LLC increased its stake in shares of M/I Homes by 621.1% in 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 in the last quarter. Canada Pension Plan Investment Board bought a new position in M/I Homes in the 2nd quarter worth $1,124,000. Finally, Vanguard Group Inc. lifted its position in M/I Homes by 1.9% during the first quarter. Vanguard Group Inc. now owns 2,096,407 shares of the construction company’s stock valued at $285,719,000 after purchasing an additional 39,542 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wedbush upgraded M/I Homes from a “neutral” rating to an “outperform” rating and upped their price target for the stock 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. Finally, 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 report on Friday, August 2nd.

Insider Activity at M/I Homes

In related news, CFO Phillip G. Creek sold 20,000 shares of the company’s stock in a transaction on 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.70% of the stock is owned by corporate insiders.

M/I Homes Price Performance

NYSE:MHO opened at $165.13 on Wednesday. The business’s 50-day simple moving average is $162.72 and its two-hundred day simple moving average is $147.56. M/I Homes, Inc. has a 52 week low of $103.62 and a 52 week high of $176.18. The stock has a market cap of $4.58 billion, a PE ratio of 8.85 and a beta of 2.24. The company has a quick ratio of 1.60, a current ratio of 6.81 and a debt-to-equity ratio of 0.33.

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.