Gratia Capital Lowers stake in M/I Homes Inc (MHO)

M/I Homes Inc (MHO) : Gratia Capital reduced its stake in M/I Homes Inc by 3.02% during the most recent quarter end. The investment management company now holds a total of 1,224,757 shares of M/I Homes Inc which is valued at $27,495,795 after selling 38,123 shares in M/I Homes Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.M/I Homes Inc makes up approximately 12.61% of Gratia Capital’s portfolio.

Other Hedge Funds, Including , Campbell Co Investment Adviser sold out all of its stake in MHO during the most recent quarter. The investment firm sold 10,215 shares of MHO which is valued $229,327.Blackrock Advisors reduced its stake in MHO by selling 94 shares or 0.8% in the most recent quarter. The Hedge Fund company now holds 11,608 shares of MHO which is valued at $260,600.Teacher Retirement System Of Texas boosted its stake in MHO in the latest quarter, The investment management firm added 416 additional shares and now holds a total of 3,444 shares of M/I Homes Inc which is valued at $77,559.Great West Life Assurance Co Can boosted its stake in MHO in the latest quarter, The investment management firm added 29,987 additional shares and now holds a total of 33,109 shares of M/I Homes Inc which is valued at $745,946.

M/I Homes Inc closed down -0.04 points or -0.17% at $23.1 with 1,56,053 shares getting traded on Thursday. Post opening the session at $23.14, the shares hit an intraday low of $22.72 and an intraday high of $23.27 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, M/I Homes Inc reported $0.52 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.50. The company had revenue of $401.20 million for the quarter, compared to analysts expectations of $400.11 million. The company’s revenue was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS.

M/I Homes Inc. is a builder of single-family homes. The Company operating segment includes homebuilding and financial services. The homebuilding operations segment include design market construct and sell single-family homes attached town homes and condominiums to first-time move-up empty-nester and luxury buyers. Its homebuilding operations have three divisions which includes the Midwest Mid-Atlantic and Southern regions. The financial services operations segment includes originating and selling mortgages and collecting fees for title insurance and closing services. Its financial services operations support its homebuilding operations by providing mortgage loans and title services to the customers of its homebuilding operations. It offers mortgage banking services to its homebuyers through its 100%-owned subsidiary M/I Financial. The Company has delivered approximately 90000 homes. It markets and sells its homes under the M/I Homes and Showcase Collection brands.

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