Traders Purchase Large Volume of Community Health Systems Call Options (NYSE:CYH)

Community Health Systems, Inc. (NYSE:CYH) was the recipient of some unusual options trading on Thursday. Traders acquired 5,385 call options on the stock. This is an increase of 182% compared to the average volume of 1,909 call options.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CYH. StockNews.com cut Community Health Systems from a “hold” rating to a “sell” rating in a research note on Monday, November 25th. Raymond James downgraded shares of Community Health Systems from a “market perform” rating to an “underperform” rating in a research report on Friday, November 22nd. Truist Financial cut their target price 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. Wells Fargo & Company cut shares of Community Health Systems from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $5.00 to $2.50 in a report on Monday, November 25th. Finally, Barclays increased their price objective on Community Health Systems from $3.00 to $5.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.77.

Community Health Systems Stock Performance

CYH stock opened at $3.07 on Friday. The firm has a market cap of $426.57 million, a PE ratio of -1.02 and a beta of 1.55. Community Health Systems has a 1 year low of $2.51 and a 1 year high of $6.29. The company has a fifty day simple moving average of $3.62 and a 200 day simple moving average of $4.42.

Community Health Systems (NYSE:CYH) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.14). The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the prior year, the company earned ($0.33) earnings per share. Community Health Systems’s revenue was up .1% on a year-over-year basis. As a group, analysts forecast that Community Health Systems will post -0.56 EPS for the current fiscal year.

Institutional Trading of Community Health Systems

A number of institutional investors and hedge funds have recently modified their holdings of the company. Signaturefd LLC acquired a new position in Community Health Systems during the 3rd quarter worth $33,000. nVerses Capital LLC acquired a new position in shares of Community Health Systems during the 2nd quarter worth about $25,000. DekaBank Deutsche Girozentrale bought a new stake in Community Health Systems during the 2nd quarter valued at approximately $33,000. CWM LLC grew its holdings in Community Health Systems by 32.1% in the 3rd quarter. CWM LLC now owns 12,191 shares of the company’s stock valued at $74,000 after buying an additional 2,961 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Community Health Systems in the 2nd quarter worth approximately $45,000. 84.99% of the stock is currently owned by institutional investors and hedge funds.

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.