Enhabit, Inc. (NYSE:EHAB) is West Tower Group LLC’s 3rd Largest Position

West Tower Group LLC raised its holdings in shares of Enhabit, Inc. (NYSE:EHAB) by 108.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 285,142 shares of the company’s stock after purchasing an additional 148,566 shares during the period. Enhabit accounts for approximately 4.8% of West Tower Group LLC’s investment portfolio, making the stock its 3rd largest holding. West Tower Group LLC’s holdings in Enhabit were worth $2,253,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in EHAB. Gladius Capital Management LP acquired a new position in Enhabit during the second quarter valued at approximately $31,000. Quarry LP increased its stake in Enhabit by 242.2% during the second quarter. Quarry LP now owns 3,703 shares of the company’s stock valued at $33,000 after purchasing an additional 2,621 shares during the last quarter. ProShare Advisors LLC bought a new stake in Enhabit during the first quarter valued at $118,000. Stoneridge Investment Partners LLC bought a new stake in Enhabit during the third quarter valued at $81,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Enhabit during the second quarter valued at $93,000.

Enhabit Stock Performance

Shares of NYSE EHAB opened at $7.63 on Tuesday. Enhabit, Inc. has a one year low of $6.85 and a one year high of $11.74. The firm has a market capitalization of $383.39 million, a price-to-earnings ratio of -3.33 and a beta of 1.84. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.85. The business has a fifty day simple moving average of $7.50 and a 200 day simple moving average of $8.38.

Enhabit (NYSE:EHAB) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Enhabit had a positive return on equity of 1.67% and a negative net margin of 11.24%. The business had revenue of $253.60 million for the quarter, compared to analyst estimates of $261.69 million. During the same period in the prior year, the business earned $0.03 EPS. Sell-side analysts expect that Enhabit, Inc. will post 0.22 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Leerink Partners reaffirmed a “market perform” rating and issued a $8.00 price objective (down previously from $8.50) on shares of Enhabit in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.25.

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.