Community Health Systems (CYH) Sees Strong Trading Volume on Insider Buying Activity

Community Health Systems (NYSE:CYH) saw an uptick in trading volume on Friday after an insider bought additional shares in the company. 11,625,600 shares were traded during trading, an increase of 194% from the previous session’s volume of 3,958,325 shares.The stock last traded at $4.97 and had previously closed at $4.02.

Specifically, major shareholder Tian Qiao Chen acquired 100,164 shares of Community Health Systems stock in a transaction on Thursday, December 7th. The shares were bought at an average cost of $3.96 per share, with a total value of $396,649.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired 1,980,484 shares of company stock worth $7,878,489 over the last three months. 4.70% of the stock is currently owned by insiders.

A number of research firms have recently commented on CYH. Zacks Investment Research cut Community Health Systems from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 3rd. Robert W. Baird reaffirmed a “hold” rating and set a $7.00 target price on shares of Community Health Systems in a research note on Wednesday, October 4th. ValuEngine cut Community Health Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Mizuho reaffirmed a “hold” rating and set a $7.00 target price on shares of Community Health Systems in a research note on Thursday, October 12th. Finally, Jefferies Group reissued a “hold” rating and issued a $7.00 price objective on shares of Community Health Systems in a research note on Thursday, October 12th. Eight analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $6.21.

The firm has a market cap of $574.78, a P/E ratio of -0.85 and a beta of 1.42. The company has a debt-to-equity ratio of 10.62, a current ratio of 2.05 and a quick ratio of 1.86.

Community Health Systems (NYSE:CYH) last announced its quarterly earnings data on Wednesday, November 1st. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.47). Community Health Systems had a negative return on equity of 3.10% and a negative net margin of 3.97%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period last year, the company earned ($0.35) EPS. The firm’s revenue for the quarter was down 16.3% compared to the same quarter last year. research analysts expect that Community Health Systems will post -1.25 EPS for the current year.

A number of large investors have recently made changes to their positions in CYH. HighTower Advisors LLC lifted its holdings in Community Health Systems by 0.3% during the second quarter. HighTower Advisors LLC now owns 17,203 shares of the company’s stock worth $170,000 after buying an additional 51 shares during the period. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Community Health Systems by 0.5% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 360,632 shares of the company’s stock worth $3,592,000 after buying an additional 1,930 shares during the period. Group One Trading L.P. lifted its holdings in Community Health Systems by 27.5% during the second quarter. Group One Trading L.P. now owns 14,765 shares of the company’s stock worth $147,000 after buying an additional 3,189 shares during the period. Voya Investment Management LLC lifted its holdings in Community Health Systems by 10.3% during the second quarter. Voya Investment Management LLC now owns 49,870 shares of the company’s stock worth $497,000 after buying an additional 4,640 shares during the period. Finally, Shelton Capital Management purchased a new stake in Community Health Systems during the second quarter worth $110,000. 94.72% of the stock is currently owned by institutional investors.

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Community Health Systems Company Profile

Community Health Systems, Inc is an operator of general acute care hospitals and outpatient facilities in communities across the country. The Company operates through hospital operations segment, which includes its general acute care hospitals and related healthcare entities that provide inpatient and outpatient healthcare services.

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