Point72 Asset Management L.P. Reduces Stock Holdings in Enhabit, Inc. (NYSE:EHAB)

Point72 Asset Management L.P. decreased its stake in Enhabit, Inc. (NYSE:EHAB) by 33.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 461,066 shares of the company’s stock after selling 235,734 shares during the quarter. Point72 Asset Management L.P. owned about 0.92% of Enhabit worth $4,113,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of EHAB. Kent Lake Capital LLC purchased a new position in shares of Enhabit in the 1st quarter worth approximately $5,183,000. Marshall Wace LLP bought a new position in Enhabit in the 2nd quarter valued at $1,941,000. 8 Knots Management LLC bought a new position in Enhabit in the 4th quarter valued at $1,968,000. DekaBank Deutsche Girozentrale grew its position in Enhabit by 52.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 518,412 shares of the company’s stock valued at $4,306,000 after acquiring an additional 178,000 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new position in Enhabit in the 2nd quarter valued at $955,000.

Enhabit Price Performance

EHAB opened at $7.51 on Thursday. Enhabit, Inc. has a 12-month low of $7.12 and a 12-month high of $11.74. 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 business’s fifty day simple moving average is $8.52 and its 200-day simple moving average is $9.26. The company has a market capitalization of $376.67 million, a price-to-earnings ratio of -4.52 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 (EPS) for the quarter, topping 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 the consensus estimate of $265.99 million. During the same quarter in the prior year, the company earned $0.04 EPS. On average, equities research analysts anticipate that Enhabit, Inc. will post 0.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, Director Jeffrey Bolton acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was purchased at an average cost of $8.01 per share, for a total transaction of $40,050.00. Following the purchase, the director now directly owns 78,877 shares of the company’s stock, valued at approximately $631,804.77. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by company insiders.

Enhabit Company Profile

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.