Rhumbline Advisers Sells 9,834 Shares of Community Health Systems, Inc. (NYSE:CYH)

Rhumbline Advisers lowered its holdings in Community Health Systems, Inc. (NYSE:CYH) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 203,223 shares of the company’s stock after selling 9,834 shares during the quarter. Rhumbline Advisers’ holdings in Community Health Systems were worth $683,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CYH. Price T Rowe Associates Inc. MD raised its stake in Community Health Systems by 7.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 96,027 shares of the company’s stock worth $337,000 after buying an additional 6,852 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Community Health Systems during the 2nd quarter worth $25,000. Eagle Asset Management Inc. purchased a new position in Community Health Systems in the fourth quarter valued at about $40,000. Red Door Wealth Management LLC raised its holdings in Community Health Systems by 126.6% in the first quarter. Red Door Wealth Management LLC now owns 26,060 shares of the company’s stock worth $91,000 after purchasing an additional 14,560 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its position in shares of Community Health Systems by 8.5% during the first quarter. GSA Capital Partners LLP now owns 251,922 shares of the company’s stock valued at $882,000 after buying an additional 19,787 shares during the last quarter. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Wall Street Analyst Weigh In

CYH has been the subject of a number of analyst reports. Oppenheimer increased their target price on shares of Community Health Systems from $4.50 to $5.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $6.00 price objective on shares of Community Health Systems in a research report on Monday, August 12th. UBS Group upped their target price on Community Health Systems from $4.70 to $5.10 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. Truist Financial raised their price target on Community Health Systems from $3.75 to $4.25 and gave the stock a “hold” rating in a report on Monday, July 15th. Finally, Wells Fargo & Company increased their price objective on shares of Community Health Systems from $3.50 to $5.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $4.73.

Community Health Systems Stock Up 5.2 %

Shares of NYSE:CYH opened at $6.22 on Wednesday. The business has a 50-day moving average price of $5.13 and a 200-day moving average price of $3.98. The stock has a market cap of $864.37 million, a price-to-earnings ratio of -6.55 and a beta of 1.56. Community Health Systems, Inc. has a 52-week low of $2.01 and a 52-week high of $6.27.

Community Health Systems (NYSE:CYH) last released its quarterly earnings data on Wednesday, July 24th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.05). The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the prior year, the business earned ($0.22) earnings per share. Community Health Systems’s revenue was up .8% on a year-over-year basis. As a group, equities analysts anticipate that Community Health Systems, Inc. will post -0.42 EPS for the current fiscal year.

Community Health Systems Company Profile

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.