Traders Purchase High Volume of Community Health Systems Put Options (NYSE:CYH)

Community Health Systems, Inc. (NYSE:CYH - Get Free Report) was the target of unusually large options trading on Tuesday. Investors purchased 11,840 put options on the stock. This represents an increase of 825% compared to the average daily volume of 1,280 put options.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its holdings in shares of Community Health Systems by 250.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,023 shares of the company's stock worth $27,000 after purchasing an additional 6,445 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in Community Health Systems during the fourth quarter worth $33,000. Cibc World Markets Corp bought a new stake in Community Health Systems in the 4th quarter valued at $35,000. Harbor Capital Advisors Inc. acquired a new position in shares of Community Health Systems in the 1st quarter valued at $36,000. Finally, Virtu Financial LLC bought a new position in shares of Community Health Systems during the 4th quarter worth about $38,000. Institutional investors and hedge funds own 84.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Truist Financial cut their price target on Community Health Systems from $4.00 to $3.00 and set a "hold" rating for the company in a research note on Friday, April 11th. UBS Group set a $3.50 price target on shares of Community Health Systems in a report on Friday, April 25th. Guggenheim assumed coverage on Community Health Systems in a report on Wednesday, April 9th. They set a "neutral" rating on the stock. Wells Fargo & Company decreased their price target on Community Health Systems from $2.50 to $2.00 and set an "underweight" rating for the company in a research note on Monday, March 10th. Finally, StockNews.com raised Community Health Systems from a "sell" rating to a "hold" rating in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Community Health Systems currently has a consensus rating of "Hold" and an average price target of $3.92.

Community Health Systems Price Performance

Shares of NYSE CYH traded up $0.07 during trading hours on Friday, hitting $2.83. 2,626,150 shares of the company's stock were exchanged, compared to its average volume of 2,172,639. The stock has a market capitalization of $397.07 million, a price-to-earnings ratio of -0.73 and a beta of 1.99. The company's 50-day moving average price is $2.70 and its 200-day moving average price is $3.30. Community Health Systems has a 1-year low of $2.24 and a 1-year high of $6.29.

Community Health Systems (NYSE:CYH - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the prior year, the company posted ($0.14) earnings per share. The firm's revenue was up .6% compared to the same quarter last year. On average, research analysts expect that Community Health Systems will post -0.29 earnings per share for the current year.

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.