Community Health Systems, Inc. (NYSE:CYH) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC cut its stake in shares of Community Health Systems, Inc. (NYSE:CYH) by 61.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 181,019 shares of the company’s stock after selling 284,607 shares during the quarter. Verition Fund Management LLC’s holdings in Community Health Systems were worth $1,099,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of Community Health Systems by 7.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 96,027 shares of the company’s stock valued at $337,000 after acquiring an additional 6,852 shares during the period. SG Americas Securities LLC raised its stake in Community Health Systems by 384.7% during the 2nd quarter. SG Americas Securities LLC now owns 212,852 shares of the company’s stock valued at $715,000 after purchasing an additional 168,941 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Community Health Systems in the second quarter valued at $5,121,000. Bank of New York Mellon Corp boosted its position in shares of Community Health Systems by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 687,804 shares of the company’s stock worth $2,311,000 after buying an additional 20,150 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in Community Health Systems by 412.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 24,702 shares of the company’s stock valued at $83,000 after buying an additional 19,886 shares during the period. 84.99% of the stock is owned by institutional investors and hedge funds.

Community Health Systems Trading Up 3.0 %

Shares of NYSE:CYH opened at $3.47 on Monday. Community Health Systems, Inc. has a 1 year low of $2.31 and a 1 year high of $6.29. The firm has a fifty day moving average price of $4.53 and a 200 day moving average price of $4.50. The stock has a market capitalization of $482.16 million, a PE ratio of -1.15 and a beta of 1.55.

Community Health Systems (NYSE:CYH) last issued its quarterly earnings data 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 company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.08 billion. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.33) earnings per share. On average, sell-side analysts forecast that Community Health Systems, Inc. will post -0.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CYH shares. Raymond James cut Community Health Systems from a “market perform” rating to an “underperform” rating in a research note on Friday, November 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $6.00 price objective on shares of Community Health Systems in a research note on Monday, August 12th. Barclays lifted their target price on shares of Community Health Systems from $3.00 to $5.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. StockNews.com lowered Community Health Systems from a “hold” rating to a “sell” rating in a report on Monday, November 25th. Finally, UBS Group boosted their target price on Community Health Systems from $4.70 to $5.10 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $4.77.

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.