Daiwa Securities Group Inc. Invests $86,000 in M/I Homes, Inc. (NYSE:MHO)

Daiwa Securities Group Inc. purchased a new stake in M/I Homes, Inc. (NYSE:MHO) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 500 shares of the construction company’s stock, valued at approximately $86,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MHO. Assenagon Asset Management S.A. lifted its position in shares of M/I Homes by 42.0% in 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 acquiring an additional 16,413 shares in the last quarter. Boston Partners purchased a new position in M/I Homes in the 1st quarter valued at $1,210,000. Canada Pension Plan Investment Board acquired a new stake in M/I Homes during the 2nd quarter worth $1,124,000. Renaissance Technologies LLC grew its holdings in shares of M/I Homes by 187.0% during the second quarter. Renaissance Technologies LLC now owns 79,200 shares of the construction company’s stock worth $9,673,000 after buying an additional 51,600 shares in the last quarter. Finally, Algert Global LLC raised its position in shares of M/I Homes by 23.8% in the second quarter. Algert Global LLC now owns 63,105 shares of the construction company’s stock valued at $7,708,000 after buying an additional 12,123 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

M/I Homes Stock Performance

M/I Homes stock opened at $165.03 on Monday. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 8.84 and a beta of 2.24. The company has a debt-to-equity ratio of 0.33, a current ratio of 6.81 and a quick ratio of 1.60. The firm has a 50 day simple moving average of $162.43 and a 200-day simple moving average of $148.34. M/I Homes, Inc. has a 1-year low of $103.63 and a 1-year high of $176.18.

Insiders Place Their Bets

In other M/I Homes news, CFO Phillip G. Creek sold 20,000 shares of the 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 completion of the transaction, the chief financial officer now 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

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.