Community Health Systems Sees Unusually High Options Volume (NYSE:CYH)

Community Health Systems, Inc. (NYSE:CYH - Get Free Report) was the recipient of some unusual options trading activity on Tuesday. Investors bought 11,840 put options on the company. This represents an increase of approximately 825% compared to the average daily volume of 1,280 put options.

Institutional Investors Weigh In On Community Health Systems

Several institutional investors and hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its holdings in shares of 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 worth $12,459,000 after acquiring an additional 2,550,678 shares during the period. Helix Partners Management LP bought a new stake in Community Health Systems during the fourth quarter worth $4,923,000. Columbus Hill Capital Management L.P. acquired a new stake in shares of Community Health Systems in the 4th quarter valued at $3,887,000. Renaissance Technologies LLC raised its holdings in shares of Community Health Systems by 913.9% during the 4th quarter. Renaissance Technologies LLC now owns 1,420,393 shares of the company's stock worth $4,247,000 after buying an additional 1,280,300 shares in the last quarter. Finally, DG Capital Management LLC lifted its position 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 worth $10,473,000 after buying an additional 1,240,413 shares during the last quarter. Institutional investors own 84.99% of the company's stock.

Community Health Systems Stock Performance

NYSE:CYH traded up $0.07 during mid-day trading on Friday, reaching $2.83. 2,626,150 shares of the company's stock were exchanged, compared to its average volume of 2,167,899. The firm has a market capitalization of $397.06 million, a PE ratio of -0.73 and a beta of 1.72. Community Health Systems has a one year low of $2.24 and a one year high of $6.29. The business's fifty day simple moving average is $2.70 and its two-hundred day simple moving average is $3.32.

Community Health Systems (NYSE:CYH - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported ($0.03) earnings per share (EPS) 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 quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.14) earnings per share. As a group, equities research analysts forecast that Community Health Systems will post -0.29 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CYH shares. Barclays dropped their target price on shares of Community Health Systems from $5.00 to $4.00 and set an "equal weight" rating on the stock in a report on Thursday, February 20th. Guggenheim initiated coverage on Community Health Systems in a research report on Wednesday, April 9th. They issued a "neutral" rating for the company. Truist Financial decreased 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. UBS Group set a $3.50 price objective on shares of Community Health Systems in a research report on Friday, April 25th. Finally, Wells Fargo & Company dropped their price objective on shares of Community Health Systems from $2.50 to $2.00 and set an "underweight" rating on the stock in a research report on Monday, March 10th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Community Health Systems presently has a consensus rating of "Hold" and a consensus price target of $3.92.

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.