Community Health Systems Target of Unusually Large Options Trading (NYSE:CYH)

Community Health Systems, Inc. (NYSE:CYH) was the target of some unusual options trading activity on Thursday. Stock traders acquired 5,385 call options on the stock. This represents an increase of approximately 182% compared to the typical volume of 1,909 call options.

Community Health Systems Stock Performance

Shares of NYSE CYH opened at $3.07 on Friday. The business has a fifty day moving average of $3.62 and a two-hundred day moving average of $4.42. Community Health Systems has a 52-week low of $2.51 and a 52-week high of $6.29. The stock has a market cap of $426.57 million, a PE ratio of -1.02 and a beta of 1.55.

Community Health Systems (NYSE:CYH) last released its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.14). The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.08 billion. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.33) EPS. Analysts predict that Community Health Systems will post -0.56 earnings per share for the current year.

Wall Street Analyst Weigh In

CYH has been the subject of several recent research reports. Truist Financial cut their price target on Community Health Systems from $5.50 to $5.00 and set a “hold” rating for the company in a report on Friday, October 25th. Barclays upped their target price on 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. Wells Fargo & Company downgraded shares of Community Health Systems from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $5.00 to $2.50 in a research note on Monday, November 25th. Raymond James cut shares of Community Health Systems from a “market perform” rating to an “underperform” rating in a research note on Friday, November 22nd. Finally, StockNews.com cut shares of Community Health Systems from a “hold” rating to a “sell” rating in a research note on Monday, November 25th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $4.77.

Institutional Investors Weigh In On Community Health Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of CYH. Bank of New York Mellon Corp grew its holdings in shares of Community Health Systems by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 687,804 shares of the company’s stock worth $2,311,000 after purchasing an additional 20,150 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Community Health Systems by 412.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 24,702 shares of the company’s stock worth $83,000 after acquiring an additional 19,886 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Community Health Systems during the second quarter worth approximately $25,000. Acadian Asset Management LLC bought a new stake in shares of Community Health Systems during the second quarter valued at approximately $871,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Community Health Systems in the second quarter valued at approximately $33,000. 84.99% of the stock is owned by institutional investors and hedge funds.

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.