Penn Capital Management Company LLC Acquires 283,398 Shares of Community Health Systems, Inc. (NYSE:CYH)

Penn Capital Management Company LLC raised its holdings in Community Health Systems, Inc. (NYSE:CYH - Free Report) by 13.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,372,280 shares of the company's stock after buying an additional 283,398 shares during the period. Penn Capital Management Company LLC owned about 1.71% of Community Health Systems worth $7,093,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its holdings in Community Health Systems by 157.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,166,890 shares of the company's stock valued at $12,459,000 after purchasing an additional 2,550,678 shares during the last quarter. Helix Partners Management LP acquired a new stake in shares of Community Health Systems during the fourth quarter worth $4,923,000. Columbus Hill Capital Management L.P. bought a new position in Community Health Systems during the fourth quarter worth about $3,887,000. Renaissance Technologies LLC raised its stake in Community Health Systems by 913.9% in the 4th quarter. Renaissance Technologies LLC now owns 1,420,393 shares of the company's stock worth $4,247,000 after purchasing an additional 1,280,300 shares in the last quarter. Finally, DG Capital Management LLC grew its holdings in shares of Community Health Systems by 54.8% during the 4th quarter. DG Capital Management LLC now owns 3,502,511 shares of the company's stock valued at $10,473,000 after purchasing an additional 1,240,413 shares during the last quarter. 84.99% of the stock is owned by institutional investors and hedge funds.

Community Health Systems Trading Up 3.6 %

CYH stock traded up $0.10 during mid-day trading on Tuesday, reaching $2.73. The company's stock had a trading volume of 1,000,152 shares, compared to its average volume of 2,151,919. The company has a market cap of $382.33 million, a price-to-earnings ratio of -0.70 and a beta of 1.72. Community Health Systems, Inc. has a 12 month low of $2.24 and a 12 month high of $6.29. The business's 50 day moving average price is $2.77 and its 200 day moving average price is $3.36.

Community Health Systems (NYSE:CYH - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.07. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.10 billion. The company's revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the firm posted ($0.14) earnings per share. As a group, equities analysts expect that Community Health Systems, Inc. will post -0.29 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on CYH. Wells Fargo & Company cut their price objective on Community Health Systems from $2.50 to $2.00 and set an "underweight" rating on the stock in a report on Monday, March 10th. UBS Group set a $3.50 price objective on Community Health Systems in a research note on Friday. StockNews.com raised Community Health Systems from a "sell" rating to a "hold" rating in a research report on Thursday, February 20th. Guggenheim began coverage on Community Health Systems in a research report on Wednesday, April 9th. They issued a "neutral" rating on the stock. Finally, Truist Financial reduced their target price on Community Health Systems from $4.00 to $3.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $3.92.

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.