Charles Schwab Investment Management Inc. cut its position in shares of Community Health Systems (NYSE:CYH) by 10.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,628,723 shares of the company’s stock after selling 546,777 shares during the period. Charles Schwab Investment Management Inc. owned 3.92% of Community Health Systems worth $12,359,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. SG Americas Securities LLC lifted its holdings in Community Health Systems by 123.9% during the second quarter. SG Americas Securities LLC now owns 85,121 shares of the company’s stock valued at $227,000 after purchasing an additional 47,106 shares in the last quarter. Systematic Financial Management LP lifted its stake in shares of Community Health Systems by 6.9% in the second quarter. Systematic Financial Management LP now owns 295,610 shares of the company’s stock worth $789,000 after buying an additional 19,195 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Community Health Systems in the second quarter worth about $61,000. Creative Planning purchased a new position in shares of Community Health Systems in the second quarter worth about $147,000. Finally, TB Alternative Assets Ltd. purchased a new position in shares of Community Health Systems in the second quarter worth about $321,000. 96.42% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the stock. ValuEngine raised shares of Community Health Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Piper Jaffray Companies set a $3.00 price target on shares of Community Health Systems and gave the stock a “sell” rating in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $5.00 price target on shares of Community Health Systems in a research note on Thursday, August 8th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $3.68.
Community Health Systems stock traded up $0.13 during midday trading on Friday, hitting $4.06. 1,467,634 shares of the stock were exchanged, compared to its average volume of 2,380,942. Community Health Systems has a fifty-two week low of $1.79 and a fifty-two week high of $5.35. The stock has a market capitalization of $473.39 million, a price-to-earnings ratio of -2.09 and a beta of 2.37. The stock’s 50-day simple moving average is $3.21 and its 200 day simple moving average is $2.97.
Community Health Systems (NYSE:CYH) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.05. The company had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same quarter in the prior year, the business earned ($0.01) earnings per share. Community Health Systems’s revenue was down 7.3% on a year-over-year basis. As a group, equities analysts anticipate that Community Health Systems will post -1.8 EPS for the current fiscal year.
In other news, CEO Wayne T. Smith purchased 1,200,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was bought at an average price of $1.99 per share, for a total transaction of $2,388,000.00. Following the completion of the purchase, the chief executive officer now directly owns 3,132,082 shares of the company’s stock, valued at $6,232,843.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Benjamin C. Fordham purchased 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average price of $1.85 per share, with a total value of $46,250.00. Following the purchase, the executive vice president now directly owns 184,416 shares of the company’s stock, valued at $341,169.60. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 1,250,000 shares of company stock valued at $2,491,500. Company insiders own 4.50% of the company’s stock.
Community Health Systems Profile
Community Health Systems, Inc, together with its subsidiaries, owns, leases, and operates general acute care hospitals in the United States. The company 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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