Acadian Asset Management LLC boosted its position in Community Health Systems, Inc. (NYSE:CYH – Free Report) by 496.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,850 shares of the company’s stock after purchasing an additional 42,322 shares during the quarter. Acadian Asset Management LLC’s holdings in Community Health Systems were worth $223,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in CYH. Compass Wealth Management LLC bought a new stake in Community Health Systems in the 4th quarter valued at $33,000. Metropolitan Life Insurance Co NY boosted its stake in Community Health Systems by 83.3% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 7,840 shares of the company’s stock valued at $34,000 after purchasing an additional 3,562 shares during the period. Pathstone Family Office LLC bought a new stake in Community Health Systems in the 3rd quarter valued at $42,000. Green Square Capital Advisors LLC bought a new stake in shares of Community Health Systems during the 4th quarter valued at $43,000. Finally, Apollon Wealth Management LLC bought a new stake in shares of Community Health Systems during the 2nd quarter valued at $44,000. 76.80% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
CYH has been the subject of a number of recent analyst reports. Truist Financial cut their target price on Community Health Systems from $5.00 to $3.50 and set a “hold” rating for the company in a research report on Wednesday, October 11th. Oppenheimer reiterated an “outperform” rating and set a $6.50 target price on shares of Community Health Systems in a research report on Monday, August 7th. Wells Fargo & Company cut their target price on Community Health Systems from $5.00 to $3.00 and set an “equal weight” rating for the company in a research report on Friday, October 20th. Royal Bank of Canada lowered their price target on Community Health Systems from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Monday, October 30th. Finally, StockNews.com raised Community Health Systems from a “sell” rating to a “hold” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $5.50.
Community Health Systems Stock Up 5.7 %
Shares of CYH opened at $2.80 on Friday. Community Health Systems, Inc. has a 12-month low of $2.01 and a 12-month high of $8.01. The business has a 50-day simple moving average of $2.68 and a two-hundred day simple moving average of $3.43. The stock has a market cap of $383.04 million, a PE ratio of 1.56 and a beta of 1.83.
Community Health Systems (NYSE:CYH – Get Free Report) last issued its earnings results on Wednesday, October 25th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.17). Community Health Systems had a negative return on equity of 5.51% and a net margin of 1.88%. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same period in the previous year, the company earned ($0.52) EPS. Community Health Systems’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities research analysts expect that Community Health Systems, Inc. will post -0.95 EPS for the current year.
Insiders Place Their Bets
In other news, Director Wayne T. Smith bought 1,000,000 shares of the stock in a transaction on Tuesday, October 31st. The stock was acquired at an average price of $2.11 per share, with a total value of $2,110,000.00. Following the acquisition, the director now directly owns 5,107,901 shares in the company, valued at $10,777,671.11. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 9.90% of the company’s stock.
Community Health Systems Profile
Community Health Systems, Inc owns, leases, and operates general acute care hospitals in the United States. It offers general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, as well as skilled nursing and home care services.
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