Pacer Advisors Inc., an investment management firm, recently revealed that it has significantly increased its position in M/I Homes, Inc. during the second quarter of this year. According to its disclosure with the Securities and Exchange Commission, Pacer Advisors Inc. acquired an additional 191,266 shares of M/I Homes’ stock, leading to a 72.2% increase in its holdings. As a result, Pacer Advisors Inc. now owns a total of 456,267 shares of the construction company’s stock, valued at $39,782,000.
This development highlights Pacer Advisors Inc.’s growing confidence in M/I Homes as a promising investment opportunity within the construction industry. The move to acquire additional shares signifies their belief in the company’s potential for future growth and profitability.
M/I Homes recently reported its earnings results for the previous quarter on July 26th. During this period, the construction company exceeded analysts’ expectations by reporting earnings per share (EPS) of $4.12. This figure surpassed consensus estimates by $1.67 and demonstrated M/I Homes’ strong financial performance during the quarter.
Furthermore, M/I Homes achieved revenue of $1.01 billion for this period, surpassing analysts’ predictions of $822.80 million. These impressive revenue figures suggest that the company is effectively capitalizing on current market conditions and generating substantial sales.
The positive financial indicators extend beyond revenue figures as well. M/I Homes boasts a net margin of 11.38%, indicating efficient cost management and profitability within its operations. Additionally, their return on equity stands at an impressive 23.42%, showcasing effective use of shareholder investments to drive company growth.
Based on these favorable outcomes and strong financial indicators, equities analysts anticipate that M/I Homes will continue to perform well throughout the remainder of the year. Analysts predict that the company will post earnings per share (EPS) of 16.88 for the current year.
Overall, the recent disclosure by Pacer Advisors Inc. and M/I Homes’ robust financial results indicate a positive outlook for the construction company. As it continues to exceed expectations and deliver strong performance, M/I Homes proves itself as an attractive investment opportunity within the market. Investors should closely monitor the company’s progress to capitalize on potential opportunities for growth in their portfolios.
For more information and in-depth analysis of M/I Homes, investors can refer to our latest report on the company.
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Recent Changes in Institutional Investors and Hedge Funds Ownership of M/I Homes: Impact on Stock Performance
Institutional investors and hedge funds have recently made significant changes to their positions in M/I Homes, a construction company listed on the New York Stock Exchange under the symbol MHO. Quarry LP, for example, has increased its stake in the company by 120.9% during the first quarter of this year. As a result, Quarry LP now owns 815 shares of M/I Homes valued at $51,000, after purchasing an additional 446 shares.
Another notable investor, Point72 Hong Kong Ltd, acquired a new stake in M/I Homes during the first quarter valued at $43,000. Similarly, Captrust Financial Advisors increased its holdings in M/I Homes by 28.6% during the same period and now owns 1,947 shares worth $86,000.
Vanguard Personalized Indexing Management LLC also entered the picture with a new stake in M/I Homes worth $203,000 during the first quarter. Finally, US Bancorp DE raised its holdings by 10.6%, owning 3,332 shares valued at $148,000.
Collectively, hedge funds and institutional investors currently own approximately 94.84% of M/I Homes’ stock.
As of September 20th, 2023 (the reference date for this article), shares of M/I Homes opened at $89.28 on the NYSE. The market capitalization of the company stands at $2.48 billion with a relatively low price-to-earnings ratio of 5.23 and a beta value of 1.99. Over the past year alone, M/I Homes’ stock has fluctuated between a low of $35.37 and a high of $101.62.
The stock’s fifty-day moving average is $94.78 and its two-hundred-day moving average is $78.28both indicators providing insight into its recent performance trend.
M/I Homes carries a debt-to-equity ratio of 0.38, demonstrating a relatively stable financial position. Furthermore, the company boasts a quick ratio of 1.48 and a current ratio of 6.11.
In other news, CEO Robert H. Schottenstein recently sold 1,441 shares of M/I Homes’ stock for an average price of $99.42 per share. This transaction amounted to a total value of $143,264.22. Following this sale, Schottenstein now holds 98,886 shares in the company’s stock with an estimated value of approximately $9,831,246.12.
This sale was publicly disclosed through a filing with the Securities and Exchange Commission (SEC), which can be accessed via the provided hyperlink. Corporate insiders currently own 4.10% of M/I Homes’ stock.
Several analysts have recently reported on M/I Homes’ performance as well. StockNews.com initiated coverage on the stock and issued a “buy” rating on Thursday, August 17th. Wedbush also published a report on July 27th in which they raised their price target on M/I Homes from $108 to $116, accompanied by an “outperform” rating.
With these recent developments and investor activities surrounding M/I Homes, it is worth monitoring how these changes could impact the company’s future growth and expansion within the construction industry and its corresponding stock performance in the coming months.
