Is M/I Homes Inc (MHO) A Good Stock to Buy?

As aggregate interest increased, some big names were breaking ground themselves. Balyasny Asset Management, led by Dmitry Balyasny, created the biggest position in M/I Homes Inc (NYSE:MHO). Balyasny Asset Management had $0.5 million invested in the company at the end of the quarter. Neil Chriss’ Hutchin Hill Capital also made a $0.4 million investment in the stock during the quarter.

Let’s also examine hedge fund activity in other stocks similar to M/I Homes Inc (NYSE:MHO). These stocks are Bojangles Inc (NASDAQ:BOJA), Regis Corporation (NYSE:RGS), Rayonier Advanced Materials Inc (NYSE:RYAM), and Intralinks Holdings Inc (NYSE:IL). This group of stocks’ market caps are closest to MHO’s market cap.

As you can see these stocks had an average of 18 hedge funds with bullish positions and the average amount invested in these stocks was $116 million. That figure was $51 million in MHO’s case. Rayonier Advanced Materials Inc (NYSE:RYAM) is the most popular stock in this table. On the other hand Bojangles Inc (NASDAQ:BOJA) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks M/I Homes Inc (NYSE:MHO) is even less popular than BOJA. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock.

Disclosure: None