8 Knots Management LLC Has $33.79 Million Position in Enhabit, Inc. $EHAB

Key Points

• 8 Knots Management LLC boosted its position in Enhabit by 9.5% to 4,218,846 shares, representing a 8.34% ownership worth $33.79 million, making EHAB its 11th-largest holding.
• Analysts' consensus on EHAB is a Hold (two Buys, six Holds, one Sell) with an average price target of $13.57, while several firms recently issued targets around $13.80 and Deutsche Bank upgraded to Buy.
• EVP Julie Diane Jolley sold 2,793 shares at $13.63 and insiders now own about 3.40% of the stock; Enhabit reported quarterly EPS of $0.14 (in line with estimates) and has a market cap of roughly $690.5 million.

8 Knots Management LLC boosted its stake in shares of Enhabit, Inc. (NYSE:EHAB - Free Report) by 9.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,218,846 shares of the company's stock after purchasing an additional 365,779 shares during the quarter. Enhabit comprises 3.8% of 8 Knots Management LLC's portfolio, making the stock its 11th largest holding. 8 Knots Management LLC owned approximately 8.34% of Enhabit worth $33,793,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EHAB. Bailard Inc. bought a new position in Enhabit in the 3rd quarter worth $442,000. Dynamic Technology Lab Private Ltd bought a new stake in Enhabit during the second quarter valued at about $717,000. Globeflex Capital L P acquired a new stake in shares of Enhabit in the second quarter valued at about $1,154,000. Y Intercept Hong Kong Ltd grew its position in shares of Enhabit by 188.2% in the third quarter. Y Intercept Hong Kong Ltd now owns 218,284 shares of the company's stock valued at $1,748,000 after purchasing an additional 142,556 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in shares of Enhabit in the third quarter worth about $1,926,000.

Insiders Place Their Bets

In other Enhabit news, EVP Julie Diane Jolley sold 2,793 shares of Enhabit stock in a transaction on Monday, March 9th. The stock was sold at an average price of $13.63, for a total value of $38,068.59. Following the completion of the transaction, the executive vice president owned 139,923 shares in the company, valued at approximately $1,907,150.49. The trade was a 1.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on EHAB. UBS Group reissued a "neutral" rating and set a $13.80 price objective (up from $12.00) on shares of Enhabit in a research report on Tuesday, February 24th. Citigroup reaffirmed a "buy" rating on shares of Enhabit in a research report on Tuesday, December 16th. Truist Financial set a $13.80 price target on Enhabit in a report on Monday, February 23rd. TD Cowen reissued a "hold" rating and issued a $13.80 price objective (up from $12.00) on shares of Enhabit in a research report on Friday, March 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Enhabit to a "buy" rating in a research note on Tuesday, January 13th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $13.57.

Enhabit Price Performance

NYSE:EHAB opened at $13.61 on Friday. The firm has a market cap of $690.50 million, a PE ratio of -151.27 and a beta of 1.56. Enhabit, Inc. has a 12 month low of $6.47 and a 12 month high of $13.68. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.76. The company's 50-day moving average price is $11.57 and its two-hundred day moving average price is $9.57.

Enhabit (NYSE:EHAB - Get Free Report) last issued its quarterly earnings data on Wednesday, March 4th. The company reported $0.14 earnings per share for the quarter, hitting the consensus estimate of $0.14. The firm had revenue of $270.40 million for the quarter, compared to analysts' expectations of $270.56 million. Enhabit had a negative net margin of 0.43% and a positive return on equity of 4.71%. On average, equities analysts anticipate that Enhabit, Inc. will post 0.22 EPS for the current fiscal year.

Enhabit Profile

Enhabit, Inc NYSE: EHAB is a national provider of home-based healthcare services, offering a continuum of care designed to support patients in the comfort of their own homes. The company’s core mission is to deliver personalized clinical and non-clinical services that help individuals recover from illness or injury, manage chronic conditions, and, when necessary, receive compassionate end-of-life care. Enhabit’s business model centers on combining skilled clinical care with patient-centric service coordination to optimize outcomes and enhance the overall care experience.

The company’s service portfolio includes skilled nursing, physical, occupational and speech therapies, personal care assistance, palliative care and hospice services.

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