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

AREX Capital Management LP increased its holdings in Enhabit, Inc. (NYSE:EHAB) by 2.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,472,662 shares of the company’s stock after purchasing 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 biggest position. AREX Capital Management LP owned about 4.93% of Enhabit worth $22,056,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC grew its holdings 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. increased its stake in shares of Enhabit by 7.2% in the 1st quarter. Oppenheimer & Co. Inc. now owns 26,224 shares of the company’s stock valued at $306,000 after buying an additional 1,768 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Enhabit by 13.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 16,058 shares of the company’s stock worth $166,000 after acquiring an additional 1,875 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Enhabit by 5.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 37,950 shares of the company’s stock worth $443,000 after acquiring an additional 2,078 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its stake in shares of Enhabit by 10.7% during the first quarter. Illinois Municipal Retirement Fund now owns 33,042 shares of the company’s stock valued at $385,000 after acquiring an additional 3,193 shares during the period.

Enhabit Trading Down 2.3 %

NYSE:EHAB opened at $8.05 on Monday. The firm has a market capitalization of $403.76 million, a price-to-earnings ratio of -4.85 and a beta of 1.82. Enhabit, Inc. has a 1-year low of $7.12 and a 1-year high of $12.19. The business’s 50-day moving average price is $8.75 and its two-hundred day moving average price 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.

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

Analyst Ratings Changes

Separately, Bank of America lowered their price objective on Enhabit from $9.00 to $8.00 and set an “underperform” rating for the company 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 data from MarketBeat.com, Enhabit currently has an average rating of “Hold” and an average price target of $9.35.

Insider Activity

In other Enhabit news, Director Jeffrey Bolton bought 5,000 shares of Enhabit stock in a transaction on Thursday, August 22nd. The shares were purchased at an average cost of $8.01 per share, for a total transaction of $40,050.00. Following the completion of the acquisition, the director now owns 78,877 shares in the company, valued at approximately $631,804.77. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.90% of the stock is 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.