Enhabit, Inc. (NYSE:EHAB) Shares Purchased by AREX Capital Management LP

AREX Capital Management LP grew its position in shares of Enhabit, Inc. (NYSE:EHAB) by 2.5% in the second quarter, HoldingsChannel reports. The fund owned 2,472,662 shares of the company’s stock after acquiring an additional 59,353 shares during the period. Enhabit makes up 25.2% of AREX Capital Management LP’s portfolio, making the stock its 2nd largest position. AREX Capital Management LP’s holdings in Enhabit were worth $22,056,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. SummerHaven Investment Management LLC boosted its position in Enhabit by 2.8% during the 2nd quarter. SummerHaven Investment Management LLC now owns 61,508 shares of the company’s stock worth $549,000 after acquiring an additional 1,660 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in Enhabit by 7.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 26,224 shares of the company’s stock worth $306,000 after acquiring an additional 1,768 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Enhabit by 13.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 16,058 shares of the company’s stock worth $166,000 after purchasing an additional 1,875 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Enhabit by 5.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 37,950 shares of the company’s stock worth $443,000 after purchasing an additional 2,078 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its stake in shares of Enhabit by 10.7% during the 1st quarter. Illinois Municipal Retirement Fund now owns 33,042 shares of the company’s stock worth $385,000 after purchasing an additional 3,193 shares in the last quarter.

Enhabit Stock Down 2.3 %

EHAB opened at $8.05 on Monday. Enhabit, Inc. has a 1-year low of $7.12 and a 1-year high of $12.19. The stock’s fifty day simple moving average is $8.75 and its 200 day simple moving average is $9.38. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.73. The stock has a market cap of $403.76 million, a PE ratio of -4.85 and a beta of 1.82.

Enhabit (NYSE:EHAB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. Enhabit had a positive return on equity of 1.61% and a negative net margin of 0.84%. The business had revenue of $260.60 million for the quarter, compared to analysts’ expectations of $265.99 million. During the same quarter in the prior year, the business earned $0.04 EPS. As a group, research analysts expect that Enhabit, Inc. will post 0.26 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Bank of America dropped their price objective on Enhabit from $9.00 to $8.00 and set an “underperform” rating on the stock in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $9.35.

Insider Activity at Enhabit

In other news, Director Jeffrey Bolton acquired 5,000 shares of the stock in a transaction on Thursday, August 22nd. The shares were purchased at an average price of $8.01 per share, for a total transaction of $40,050.00. Following the transaction, the director now directly owns 78,877 shares of the company’s stock, valued at $631,804.77. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.90% of the stock is owned by company insiders.

About Enhabit

Enhabit, Inc provides home health and hospice services in the United States. Its home health services include patient education, pain management, wound care and dressing changes, cardiac rehabilitation, infusion therapy, pharmaceutical administration, and skilled observation and assessment services; practices to treat chronic diseases and conditions, including diabetes, hypertension, arthritis, Alzheimer's disease, low vision, spinal stenosis, Parkinson's disease, osteoporosis, complex wound care and chronic pain, along with disease-specific plans for patients with diabetes, congestive heart failure, post-orthopedic surgery, or injury and respiratory diseases; and physical, occupational and speech therapists provide therapy services.