AREX Capital Management LP recently announced the acquisition of new stake in Enhabit Inc (NYSE:EHAB). The institutional investor has increased its shareholding in the Healthcare company by 2.33% to 2.34 million shares with purchase of 53326.0 shares. This fresh investment now brings its stake to 4.67% valued currently at $24.21 million. In addition, Scopia Capital Management LP raised its holdings by 0.18 million to 2.09 million shares. And Dimensional Fund Advisors LP has lifted its position by 33.81% or 0.48 million shares – to 1.92 million shares.
With over 0.44 million Enhabit Inc (EHAB) shares trading Friday and a closing price of $10.43 on the day, the dollar volume was approximately $4.58 million. The shares have shown a negative half year performance of -17.42% and its price on 01/12/24 lost nearly -1.23%. Currently, there are 50.10M common shares owned by the public and among those 44.14M shares have been available to trade.
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Insiders at the company have transacted a total of 50 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 36 of these insider trades were purchases, accounting for 311,125 shares. Insider sales of the common stock occurred on 14 occasions, with total insider shares sold totaling 12,433 shares.
The top 3 mutual fund holders in Enhabit Inc are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market ETF, and Kempen Intl. Funds – Global Small. iShares Core S&P Small Cap ETF owns 3.39 million shares of the company’s stock, all valued at over $35.04 million. The company bought an additional 3388.0 shares recently to bring their total holdings to about 6.75% of the shares outstanding. Kempen Intl. Funds – Global Small now owns shares totaling to 3.01% of the shares outstanding.
Shares of Enhabit Inc (NYSE: EHAB) opened at $10.58, up $0.02 from a prior closing price of $10.56. However, the script later moved the day high at 10.75, down -1.23%. The company’s stock has a 5-day price change of 6.86% and 32.19% over the past three months. EHAB shares are trading 0.77% year to date (YTD), with the 12-month market performance down to -23.37% lower. It has a 12-month low price of $7.12 and touched a high of $16.64 over the same period. EHAB has an average intraday trading volume of 610.49K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.11%, 3.53%, and -9.21% respectively.
Institutional ownership of Enhabit Inc (NYSE: EHAB) shares accounts for 108.18% of the company’s 50.10M shares outstanding. Mutual fund holders own 53.60%, while other institutional holders and individual stakeholders account for 54.50% and 1.87% respectively.
It has a market capitalization of $522.54M and a beta (3y monthly) value of 1.42. The earnings-per-share (ttm) stands at -$1.33. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.97% over the week and 3.93% over the month.
Analysts forecast that Enhabit Inc (EHAB) will achieve an EPS of $0.03 for the current quarter, $0.04 for the next quarter and $0.22 for 2024. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.05. Comparatively, EPS for the current quarter was $0.32 a year ago. Earnings per share for the fiscal year are expected to decrease by -87.92%, and 21.74% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Enhabit Inc (EHAB) as a “Hold” at a consensus score of 3.38. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 4 of the 8 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the EHAB, a number of firms have released research notes about the stock. TD Cowen stated their Market Perform rating for the stock in a research note on December 12, 2023, with the firm’s price target at $12.
