Stock News Spotlight: M/I Homes (NYSE:MHO)

M/I Homes (NYSE:MHO) stock identified change of 83.27% away from 52-week low price and recently located move of -10.82% off 52-week high price. It has market worth of $1.16BM. MHO stock has been recorded -3.32% away from 50 day moving average and 19.75% away from 200 day moving average. Moving closer, we can see that shares have been trading -0.88% off 20-day moving average.

On Jan. 7, 2020, M/I Homes (NYSE:MHO) reported the pricing of its offering of $400 million aggregate principal amount of 4.950% senior notes due 2028 (the New Senior Notes) at 100% of par.  This represents a $50 million increase in the original offering amount of the New Senior Notes.  The New Senior Notes will mature on February 1, 2028. The New Senior Notes will be offered only to qualified institutional buyers in the United States under Rule 144A under the Securities Act of 1933, as amended (the Securities Act), and outside the United States to persons other than U.S. persons in compliance with Regulation S under the Securities Act.  The offering of the New Senior Notes has not been registered under the Securities Act or any state securities laws, and the New Senior Notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.

The Company intends to use a portion of the net proceeds from this offering to redeem all $300 million aggregate principal amount of its outstanding 6.75% senior notes due 2021 (the 2021 Senior Notes). The Company intends to use the balance of the net proceeds to repay borrowings under its $500 million unsecured revolving credit facility and, to the extent there are any net proceeds remaining thereafter, for general corporate purposes. The sale of the New Senior Notes is subject to customary closing conditions and is expected to close on January 22, 2020. This press release does not constitute a notice of redemption with respect to the 2021 Senior Notes.

This press release is neither an offer to sell nor the solicitation of an offer to buy any of the New Senior Notes and shall not constitute an offer, solicitation or sale in any jurisdiction in which such an offer, solicitation or sale would be unlawful.

The Industrial Goods sector company, M/I Homes noticed change of 2.22% to $41.53 along volume of 244065 shares in Tuesday session compared to an average volume of 272.23K. The stock observed return of 4.77% in 5 days trading activity. The stock was at -8.02% over one month performance. MHO’s shares are at 9.84% for the quarter and driving a 72.47% return over the course of the past year and is now at 5.54% since this point in 2018.

The average volatility for the week at 2.27% and for month was at 2.58%. There are 27.97M shares outstanding and 27.51M shares are floated in market. Right now the stock beta is 0.87.

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