Community Health Systems, Inc. $CYH Shares Bought by Apollo Management Holdings L.P.

Key Points

• Apollo Management Holdings increased its Community Health Systems stake by 3.2% in the second quarter, adding 370,210 shares to own 11.86 million shares, or 8.41% of CYH. Institutional investors and hedge funds collectively own 84.99% of the stock.
• Analyst sentiment remains cautious: CYH has an average “Reduce” rating and a consensus price target of $2.95, with several firms recently lowering their targets and Wall Street Zen downgrading the stock to “sell.”
• Community Health Systems reported weaker-than-expected quarterly results, including an adjusted loss of $0.19 per share versus a $0.10 expected loss and revenue down 9.8% year over year to $2.83 billion. Director William Norris Jennings also sold 40,000 shares at an average price of $2.96.

Apollo Management Holdings L.P. raised its stake in Community Health Systems, Inc. (NYSE:CYH - Free Report) by 3.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 11,859,526 shares of the company's stock after purchasing an additional 370,210 shares during the period. Community Health Systems accounts for approximately 0.4% of Apollo Management Holdings L.P.'s holdings, making the stock its 25th biggest holding. Apollo Management Holdings L.P. owned 8.41% of Community Health Systems worth $39,611,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Community Health Systems by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,987 shares of the company's stock worth $202,000 after purchasing an additional 3,204 shares during the period. Creative Planning boosted its holdings in shares of Community Health Systems by 14.1% during the second quarter. Creative Planning now owns 98,577 shares of the company's stock valued at $335,000 after acquiring an additional 12,204 shares during the period. Rhumbline Advisers grew its position in Community Health Systems by 3.8% in the 2nd quarter. Rhumbline Advisers now owns 206,497 shares of the company's stock worth $702,000 after purchasing an additional 7,549 shares during the last quarter. Norges Bank bought a new stake in shares of Community Health Systems during the second quarter valued at approximately $1,204,000. Finally, Marshall Wace LLP bought a new position in Community Health Systems in the 2nd quarter worth approximately $321,000. 84.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CYH has been the subject of several research analyst reports. Barclays reduced their price objective on shares of Community Health Systems from $3.00 to $2.50 and set an "underweight" rating for the company in a report on Thursday, July 23rd. UBS Group dropped their price target on shares of Community Health Systems from $3.20 to $3.00 and set a "neutral" rating on the stock in a research report on Friday, July 24th. Royal Bank Of Canada decreased their price target on Community Health Systems from $5.00 to $4.00 and set an "outperform" rating for the company in a research note on Monday, July 27th. Truist Financial lowered their price objective on shares of Community Health Systems from $3.75 to $3.25 and set a "hold" rating on the stock in a research note on Monday, July 27th. Finally, Wall Street Zen downgraded Community Health Systems from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Community Health Systems currently has an average rating of "Reduce" and a consensus target price of $2.95.

Insider Transactions at Community Health Systems

In other Community Health Systems news, Director William Norris Jennings sold 40,000 shares of the firm's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $2.96, for a total transaction of $118,400.00. Following the completion of the sale, the director directly owned 38,468 shares in the company, valued at approximately $113,865.28. This trade represents a 50.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 11.10% of the company's stock.

Community Health Systems Price Performance

Community Health Systems stock opened at $2.95 on Monday. Community Health Systems, Inc. has a fifty-two week low of $2.40 and a fifty-two week high of $4.43. The firm's 50 day simple moving average is $3.13 and its 200-day simple moving average is $3.08. The company has a market cap of $415.98 million, a P/E ratio of 1.59 and a beta of 1.84.

Community Health Systems (NYSE:CYH - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.09). The firm had revenue of $2.83 billion for the quarter, compared to analysts' expectations of $2.89 billion. Community Health Systems had a negative return on equity of 6.66% and a net margin of 2.10%.The company's revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. Community Health Systems has set its FY 2026 guidance at -1.250--1.100 EPS. On average, analysts expect that Community Health Systems, Inc. will post -0.86 EPS for the current fiscal year.

Community Health Systems Company Profile

Community Health Systems, Inc NYSE: CYH is one of the largest publicly traded hospital operators in the United States. Headquartered in Franklin, Tennessee, the company owns, leases and manages general acute care hospitals and outpatient facilities, primarily in non-urban and mid-market communities. CHS is focused on delivering locally accessible healthcare services through its network of affiliated hospitals, clinics and post-acute providers.

The company's core offerings include inpatient medical and surgical care, emergency services, critical care, diagnostic imaging and laboratory testing.

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