Insider Selling: Community Health Systems (NYSE:CYH) Director Sells $118,400.00 in Stock

Key Points

• Community Health Systems director William Norris Jennings sold 40,000 shares at an average price of $2.96, generating $118,400 and reducing his position by 50.98% to 38,468 shares.
• CYH recently traded at $2.96, near its 12-month low of $2.40. Its latest quarterly results missed expectations, with a $0.19 per-share loss and revenue down 9.8% year over year.
• Analyst sentiment is cautious: the stock has an average “Reduce” rating and a consensus price target of $2.95, while institutional investors own approximately 84.99% of outstanding shares.

Community Health Systems, Inc. (NYSE:CYH - Get Free Report) Director William Norris Jennings sold 40,000 shares of the company'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 transaction, the director owned 38,468 shares of the company's stock, valued at approximately $113,865.28. This trade represents a 50.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Community Health Systems Price Performance

CYH stock traded down $0.04 during trading on Tuesday, hitting $2.96. The stock had a trading volume of 688,893 shares, compared to its average volume of 1,680,527. Community Health Systems, Inc. has a twelve month low of $2.40 and a twelve month high of $4.43. The company's 50-day moving average price is $3.14 and its two-hundred day moving average price is $3.08. The stock has a market capitalization of $418.09 million, a P/E ratio of 1.60 and a beta of 1.84.

Community Health Systems (NYSE:CYH - Get Free Report) last released its earnings results 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). Community Health Systems had a net margin of 2.10% and a negative return on equity of 6.66%. The firm had revenue of $2.83 billion during the quarter, compared to analysts' expectations of $2.89 billion. During the same quarter last year, the business earned ($0.05) EPS. The business's revenue was down 9.8% compared to the same quarter last year. Community Health Systems has set its FY 2026 guidance at -1.250--1.100 EPS. As a group, sell-side analysts expect that Community Health Systems, Inc. will post -0.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CYH. BlackRock Inc. purchased a new position in shares of Community Health Systems during the 2nd quarter worth $36,508,000. Bank of America Corp DE acquired a new position in Community Health Systems in the second quarter valued at about $5,904,000. Marshall Wace LLP boosted its stake in Community Health Systems by 276.3% during the fourth quarter. Marshall Wace LLP now owns 1,523,837 shares of the company's stock worth $4,754,000 after buying an additional 1,118,864 shares during the period. Owl Creek Asset Management L.P. increased its position in shares of Community Health Systems by 65.4% during the first quarter. Owl Creek Asset Management L.P. now owns 2,530,622 shares of the company's stock valued at $7,440,000 after acquiring an additional 1,000,862 shares during the last quarter. Finally, Carronade Capital Management LP raised its stake in shares of Community Health Systems by 306.7% in the 1st quarter. Carronade Capital Management LP now owns 1,321,923 shares of the company's stock valued at $3,886,000 after acquiring an additional 996,923 shares during the period. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. UBS Group decreased 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 note on Friday, July 24th. Weiss Ratings raised shares of Community Health Systems from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, July 2nd. Wall Street Zen lowered Community Health Systems from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Truist Financial reduced their price objective on Community Health Systems from $3.75 to $3.25 and set a "hold" rating on the stock in a research report on Monday, July 27th. Finally, Royal Bank Of Canada cut their target price 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. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $2.95.

About Community Health Systems

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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