Squarepoint Ops LLC Reduces Stock Position in Community Health Systems, Inc. (NYSE:CYH)

Squarepoint Ops LLC decreased its holdings in shares of Community Health Systems, Inc. (NYSE:CYH) by 37.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,799 shares of the company’s stock after selling 35,864 shares during the period. Squarepoint Ops LLC’s holdings in Community Health Systems were worth $204,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC increased its position in shares of Community Health Systems by 384.7% during the second quarter. SG Americas Securities LLC now owns 212,852 shares of the company’s stock valued at $715,000 after buying an additional 168,941 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Community Health Systems in the 1st quarter worth approximately $1,132,000. Vanguard Group Inc. boosted its position in shares of Community Health Systems by 0.4% during the first quarter. Vanguard Group Inc. now owns 8,124,617 shares of the company’s stock valued at $28,436,000 after purchasing an additional 28,669 shares in the last quarter. Hood River Capital Management LLC purchased a new stake in Community Health Systems in the second quarter worth $789,000. Finally, 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. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Analyst Upgrades and Downgrades

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

Community Health Systems Price Performance

CYH stock opened at $5.43 on Friday. Community Health Systems, Inc. has a 1-year low of $2.01 and a 1-year high of $6.29. The stock has a market capitalization of $754.44 million, a P/E ratio of -7.14 and a beta of 1.55. The business has a fifty day moving average price of $5.41 and a 200-day moving average price of $4.21.

Community Health Systems (NYSE:CYH) last posted its earnings results on Wednesday, July 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.05). The business 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 company earned ($0.22) EPS. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, analysts anticipate that Community Health Systems, Inc. will post -0.41 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.