Phocas Financial Corp. Makes New $3.09 Million Investment in Enhabit, Inc. $EHAB

Phocas Financial Corp. bought a new position in shares of Enhabit, Inc. (NYSE:EHAB) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 320,957 shares of the company’s stock, valued at approximately $3,094,000. Phocas Financial Corp. owned 0.63% of Enhabit at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC grew its position in Enhabit by 295.2% during the first quarter. GAMMA Investing LLC now owns 3,533 shares of the company’s stock worth $31,000 after buying an additional 2,639 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Enhabit by 110,987.5% during the 1st quarter. Jones Financial Companies Lllp now owns 8,887 shares of the company’s stock worth $78,000 after purchasing an additional 8,879 shares in the last quarter. Strs Ohio bought a new position in shares of Enhabit in the first quarter worth $82,000. CWM LLC increased its position in shares of Enhabit by 383.6% in the first quarter. CWM LLC now owns 11,738 shares of the company’s stock worth $103,000 after purchasing an additional 9,311 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in Enhabit in the first quarter valued at about $114,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. UBS Group reduced their price objective on shares of Enhabit from $10.00 to $8.50 and set a “neutral” rating on the stock in a research note on Friday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Enhabit in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $8.67.

Enhabit Stock Performance

NYSE:EHAB opened at $8.21 on Thursday. Enhabit, Inc. has a twelve month low of $6.47 and a twelve month high of $10.90. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.79. The stock’s 50-day simple moving average is $8.09 and its 200 day simple moving average is $8.37. The firm has a market capitalization of $415.91 million, a PE ratio of -3.07 and a beta of 1.69.

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

Insider Buying and Selling

In related news, CFO Ryan Solomon bought 10,000 shares of the business’s stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $7.64 per share, for a total transaction of $76,400.00. Following the completion of the transaction, the chief financial officer directly owned 193,468 shares of the company’s stock, valued at approximately $1,478,095.52. This represents a 5.45% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 3.40% of the stock is currently owned by insiders.

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.