Connor Clark & Lunn Investment Management Ltd. Decreases Stock Holdings in Community Health Systems, Inc. $CYH

Key Points

• Connor Clark & Lunn Investment Management Ltd. sold 213,971 shares of Community Health Systems, reducing its stake by 91% in the first quarter, holding only 21,207 shares worth approximately $57,000 thereafter.
• Community Health Systems reported earnings of ($0.05) per share, missing analyst estimates, and experienced a slight revenue decline of 0.2% year-over-year, with revenues of $3.13 billion.
• Analysts have adjusted price targets for Community Health Systems, with most recent targets ranging from $2.50 to $5.00, indicating mixed sentiments about the company’s performance in the near future.

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in Community Health Systems, Inc. (NYSE:CYH - Free Report) by 91.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,207 shares of the company's stock after selling 213,971 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Community Health Systems were worth $57,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Teacher Retirement System of Texas acquired a new position in shares of Community Health Systems in the 1st quarter valued at about $1,021,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Community Health Systems by 6.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 308,176 shares of the company's stock valued at $921,000 after purchasing an additional 18,612 shares during the period. Geode Capital Management LLC lifted its stake in shares of Community Health Systems by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 2,809,230 shares of the company's stock valued at $8,402,000 after purchasing an additional 9,772 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Community Health Systems by 250.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,023 shares of the company's stock valued at $27,000 after purchasing an additional 6,445 shares during the period. Finally, ProShare Advisors LLC increased its position in Community Health Systems by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 35,353 shares of the company's stock valued at $106,000 after buying an additional 11,632 shares in the last quarter. 84.99% of the stock is owned by institutional investors and hedge funds.

Community Health Systems Stock Performance

CYH traded down $0.01 during midday trading on Tuesday, reaching $2.72. 1,464,489 shares of the company were exchanged, compared to its average volume of 2,221,253. The company's fifty day moving average price is $3.08 and its 200 day moving average price is $3.11. The company has a market cap of $380.43 million, a price-to-earnings ratio of -1.82 and a beta of 1.86. Community Health Systems, Inc. has a one year low of $2.24 and a one year high of $6.29.

Community Health Systems (NYSE:CYH - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.10). The business had revenue of $3.13 billion during the quarter, compared to analysts' expectations of $3.02 billion. The business's quarterly revenue was down .2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.17) earnings per share. Community Health Systems has set its FY 2025 guidance at -0.400--0.100 EPS. As a group, sell-side analysts anticipate that Community Health Systems, Inc. will post -0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CYH shares. Barclays dropped their price target on Community Health Systems from $4.00 to $3.50 and set an "equal weight" rating on the stock in a research note on Thursday, July 24th. Wells Fargo & Company dropped their price target on Community Health Systems from $3.50 to $2.50 and set an "underweight" rating on the stock in a research note on Thursday, August 14th. Truist Financial upped their price target on Community Health Systems from $3.50 to $4.25 and gave the stock a "hold" rating in a research note on Wednesday, July 16th. UBS Group dropped their price target on Community Health Systems from $3.50 to $3.20 and set a "neutral" rating on the stock in a research note on Friday, July 25th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $3.00 price target (down from $4.25) on shares of Community Health Systems in a research note on Thursday, July 24th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average price target of $3.58.

About Community Health Systems

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.