Community Health Systems (NYSE:CYH) CEO Wayne T. Smith acquired 993,449 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were bought at an average price of $3.37 per share, for a total transaction of $3,347,923.13. Following the purchase, the chief executive officer now directly owns 1,959,566 shares of the company’s stock, valued at $6,603,737.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of NYSE:CYH traded down $0.12 during trading on Thursday, reaching $2.81. 2,169,290 shares of the company traded hands, compared to its average volume of 2,056,442. The firm has a market capitalization of $362.45 million, a P/E ratio of -1.45 and a beta of 2.52. Community Health Systems has a 1-year low of $2.48 and a 1-year high of $5.35.
Community Health Systems (NYSE:CYH) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.09). The company had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.30 billion. During the same period in the previous year, the firm posted $0.13 earnings per share. The company’s revenue was down 8.5% compared to the same quarter last year. Sell-side analysts expect that Community Health Systems will post -1.66 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the stock. Ausdal Financial Partners Inc. bought a new position in Community Health Systems in the 4th quarter worth $28,000. Menta Capital LLC bought a new position in Community Health Systems in the 4th quarter worth $29,000. HHM Wealth Advisors LLC bought a new position in Community Health Systems in the 4th quarter worth $38,000. Oregon Public Employees Retirement Fund bought a new position in Community Health Systems in the 4th quarter worth $44,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Community Health Systems in the 1st quarter worth $45,000. 98.36% of the stock is owned by institutional investors and hedge funds.
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About Community Health Systems
Community Health Systems, Inc, together with its subsidiaries, owns, leases, and operates general acute care hospitals in the United States. The company 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.
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