Enhabit, Inc. $EHAB Shares Acquired by 8 Knots Management LLC

Key Points

• 8 Knots Management LLC increased its stake in Enhabit, Inc. by 12.6%, owning approximately 4.99 million shares, which now constitutes 5.5% of its portfolio.
• UBS Group has lowered its price target for Enhabit shares from $10.00 to $8.50, maintaining a "neutral" rating, while the average consensus rating for the stock is "Hold" with a target of $8.67.
• Enhabit reported a quarterly earnings per share of $0.13, surpassing estimates, with a revenue of $266.10 million, indicating robust financial performance despite a negative net margin.

8 Knots Management LLC grew its position in shares of Enhabit, Inc. (NYSE:EHAB - Free Report) by 12.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,988,718 shares of the company's stock after purchasing an additional 557,820 shares during the quarter. Enhabit makes up about 5.5% of 8 Knots Management LLC's holdings, making the stock its 5th largest position. 8 Knots Management LLC owned 9.85% of Enhabit worth $43,851,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Magnetar Financial LLC grew its holdings in shares of Enhabit by 10.4% during the first quarter. Magnetar Financial LLC now owns 24,168 shares of the company's stock worth $212,000 after purchasing an additional 2,281 shares during the last quarter. Iron Triangle Partners LP purchased a new position in shares of Enhabit during the first quarter worth about $10,021,000. Trexquant Investment LP grew its holdings in shares of Enhabit by 30.1% during the first quarter. Trexquant Investment LP now owns 185,603 shares of the company's stock worth $1,631,000 after purchasing an additional 42,908 shares during the last quarter. Ieq Capital LLC purchased a new position in shares of Enhabit during the first quarter worth about $165,000. Finally, Walleye Capital LLC purchased a new position in shares of Enhabit during the first quarter worth about $345,000.

Wall Street Analyst Weigh In

Separately, UBS Group lowered their price target on Enhabit from $10.00 to $8.50 and set a "neutral" rating on the stock in a report on Friday, August 8th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $8.67.

Enhabit Trading Down 0.8%

EHAB stock traded down $0.07 during midday trading on Friday, hitting $7.80. The stock had a trading volume of 316,065 shares, compared to its average volume of 422,919. The firm has a market cap of $395.13 million, a PE ratio of -2.92 and a beta of 1.69. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.57 and a quick ratio of 1.57. Enhabit, Inc. has a 12-month low of $6.47 and a 12-month high of $10.90. The company's 50-day moving average price is $7.41 and its 200 day moving average price is $8.46.

Enhabit (NYSE:EHAB - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03. The firm had revenue of $266.10 million during the quarter, compared to analysts' expectations of $263.39 million. Enhabit had a negative net margin of 12.84% and a positive return on equity of 2.72%. On average, equities research analysts predict that Enhabit, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Ryan Solomon bought 10,000 shares of the stock in a transaction on Friday, August 8th. The stock was purchased at an average cost of $7.64 per share, with a total value of $76,400.00. Following the purchase, the chief financial officer owned 193,468 shares of the company's stock, valued at approximately $1,478,095.52. The trade was a 5.45% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 3.40% of the company's stock.

Enhabit 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.