Enhabit, Inc. (NYSE:EHAB) Sees Large Increase in Short Interest

Enhabit, Inc. (NYSE:EHAB) was the target of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 1,290,000 shares, an increase of 6.6% from the November 30th total of 1,210,000 shares. Approximately 2.9% of the company’s shares are short sold. Based on an average trading volume of 412,800 shares, the short-interest ratio is currently 3.1 days.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EHAB. Leerink Partners reissued a “market perform” rating and issued a $8.00 target price (down previously from $8.50) on shares of Enhabit in a research note on Tuesday, November 19th. Jefferies Financial Group raised Enhabit from a “hold” rating to a “buy” rating and raised their price objective for the company from $8.25 to $9.50 in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat, Enhabit has an average rating of “Hold” and a consensus target price of $8.75.

Insider Transactions at Enhabit

In other news, Director Stuart M. Mcguigan bought 15,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was acquired at an average price of $8.81 per share, for a total transaction of $132,150.00. Following the acquisition, the director now owns 46,810 shares of the company’s stock, valued at $412,396.10. This trade represents a 47.15 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Jeffrey Bolton purchased 4,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average price of $8.69 per share, for a total transaction of $34,760.00. Following the acquisition, the director now directly owns 98,144 shares of the company’s stock, valued at $852,871.36. This trade represents a 4.25 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EHAB. FMR LLC raised its position in shares of Enhabit by 138.4% in the 3rd quarter. FMR LLC now owns 3,388 shares of the company’s stock valued at $27,000 after purchasing an additional 1,967 shares in the last quarter. Quarry LP increased its stake in shares of Enhabit by 242.2% in the second quarter. Quarry LP now owns 3,703 shares of the company’s stock worth $33,000 after buying an additional 2,621 shares during the last quarter. Gladius Capital Management LP raised its holdings in Enhabit by 78.2% in the third quarter. Gladius Capital Management LP now owns 6,259 shares of the company’s stock valued at $49,000 after acquiring an additional 2,747 shares in the last quarter. Stoneridge Investment Partners LLC acquired a new position in Enhabit in the third quarter worth about $81,000. Finally, Canada Pension Plan Investment Board bought a new stake in Enhabit in the second quarter valued at about $93,000.

Enhabit Trading Up 1.6 %

NYSE EHAB opened at $7.81 on Thursday. The company’s fifty day simple moving average is $7.72 and its 200-day simple moving average is $8.18. The stock has a market cap of $392.72 million, a P/E ratio of -3.37 and a beta of 1.89. Enhabit has a 52 week low of $6.85 and a 52 week high of $11.74. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.85.

Enhabit (NYSE:EHAB) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $253.60 million during the quarter, compared to analyst estimates of $261.69 million. Enhabit had a positive return on equity of 1.67% and a negative net margin of 11.24%. During the same quarter in the prior year, the firm earned $0.03 EPS. Equities research analysts predict that Enhabit will post 0.22 EPS for the current fiscal year.

About Enhabit

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.