Community Health Systems (NYSE:CYH) Shares Down 4.7% – Time to Sell?

Community Health Systems, Inc. (NYSE:CYH)’s share price fell 4.7% during trading on Thursday . The stock traded as low as $3.64 and last traded at $3.65. 110,853 shares were traded during mid-day trading, a decline of 94% from the average session volume of 1,800,270 shares. The stock had previously closed at $3.83.

Analyst Ratings Changes

Several brokerages recently commented on CYH. Barclays increased their price objective on shares of Community Health Systems from $3.00 to $5.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $6.00 price objective on shares of Community Health Systems in a research report on Monday, August 12th. StockNews.com raised shares of Community Health Systems from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Truist Financial decreased their price objective on shares of Community Health Systems from $5.50 to $5.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Finally, UBS Group increased their price objective on shares of Community Health Systems from $4.70 to $5.10 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $5.18.

Community Health Systems Trading Down 2.1 %

The company has a market capitalization of $509.94 million, a PE ratio of -1.22 and a beta of 1.60. The business’s 50-day simple moving average is $5.02 and its 200-day simple moving average is $4.49.

Community Health Systems (NYSE:CYH) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.14). The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.08 billion. Community Health Systems’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.33) earnings per share. Sell-side analysts forecast that Community Health Systems, Inc. will post -0.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Community Health Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Community Health Systems by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 8,124,617 shares of the company’s stock valued at $28,436,000 after acquiring an additional 28,669 shares during the period. Whitebox Advisors LLC grew its stake in Community Health Systems by 43.3% in the 2nd quarter. Whitebox Advisors LLC now owns 3,020,933 shares of the company’s stock valued at $10,150,000 after acquiring an additional 913,542 shares during the period. Dimensional Fund Advisors LP grew its stake in Community Health Systems by 2.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,748,786 shares of the company’s stock valued at $5,875,000 after acquiring an additional 43,145 shares during the period. Assenagon Asset Management S.A. grew its stake in Community Health Systems by 6.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,616,212 shares of the company’s stock valued at $9,810,000 after acquiring an additional 91,985 shares during the period. Finally, Apollo Management Holdings L.P. acquired a new stake in Community Health Systems in the 1st quarter valued at $5,149,000. Institutional investors and hedge funds own 84.99% of the company’s stock.

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.