Community Health Systems (NYSE:CYH) Short Interest Update

Community Health Systems (NYSE:CYH) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 22,160,000 shares, a growth of 7.8% from the September 30th total of 20,550,000 shares. Based on an average daily trading volume, of 2,460,000 shares, the days-to-cover ratio is currently 9.0 days. Currently, 19.9% of the shares of the company are sold short.

A number of brokerages recently weighed in on CYH. Royal Bank of Canada reissued a “hold” rating and issued a $5.00 price target on shares of Community Health Systems in a report on Thursday, August 8th. Piper Jaffray Companies set a $3.00 price target on shares of Community Health Systems and gave the stock a “sell” rating in a report on Wednesday, August 7th. Finally, ValuEngine raised shares of Community Health Systems from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $3.95.

In related news, CEO Wayne T. Smith purchased 1,200,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were bought at an average cost of $1.99 per share, with a total value of $2,388,000.00. Following the acquisition, the chief executive officer now owns 3,132,082 shares of the company’s stock, valued at $6,232,843.18. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Benjamin C. Fordham purchased 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was bought at an average cost of $1.85 per share, for a total transaction of $46,250.00. Following the completion of the acquisition, the executive vice president now directly owns 184,416 shares in the company, valued at approximately $341,169.60. The disclosure for this purchase can be found here. 4.50% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the stock. Invesco Ltd. raised its stake in Community Health Systems by 174.0% in the 2nd quarter. Invesco Ltd. now owns 3,567,675 shares of the company’s stock valued at $9,525,000 after acquiring an additional 2,265,615 shares during the period. Northern Trust Corp raised its stake in Community Health Systems by 3.6% in the 2nd quarter. Northern Trust Corp now owns 1,161,698 shares of the company’s stock valued at $3,102,000 after acquiring an additional 40,433 shares during the period. Morgan Stanley raised its stake in Community Health Systems by 353.2% in the 2nd quarter. Morgan Stanley now owns 709,010 shares of the company’s stock valued at $1,893,000 after acquiring an additional 552,548 shares during the period. Systematic Financial Management LP raised its stake in Community Health Systems by 6.9% in the 2nd quarter. Systematic Financial Management LP now owns 295,610 shares of the company’s stock valued at $789,000 after acquiring an additional 19,195 shares during the period. Finally, Rhumbline Advisers raised its stake in Community Health Systems by 8.5% in the 3rd quarter. Rhumbline Advisers now owns 264,953 shares of the company’s stock valued at $954,000 after acquiring an additional 20,767 shares during the period. Institutional investors and hedge funds own 97.14% of the company’s stock.

Community Health Systems stock traded down $0.08 during midday trading on Monday, reaching $3.06. The stock had a trading volume of 1,722,800 shares, compared to its average volume of 2,231,634. Community Health Systems has a 12 month low of $1.79 and a 12 month high of $5.35. The firm’s 50-day moving average price is $3.74 and its 200 day moving average price is $2.98. The firm has a market capitalization of $338.21 million, a PE ratio of -1.58 and a beta of 2.37.

Community Health Systems (NYSE:CYH) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.59) by $0.30. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the firm posted ($1.64) earnings per share. The company’s revenue was down 5.9% on a year-over-year basis. On average, equities research analysts anticipate that Community Health Systems will post -1.73 earnings per share for the current fiscal year.

Community Health Systems Company Profile

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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