Community Health Systems (NYSE:CYH) Sees Large Growth in Short Interest

Community Health Systems (NYSE:CYH) saw a large increase in short interest in December. As of December 31st, there was short interest totalling 19,050,000 shares, an increase of 6.1% from the December 15th total of 17,950,000 shares. Approximately 17.1% of the shares of the stock are sold short. Based on an average daily volume of 1,940,000 shares, the days-to-cover ratio is currently 9.8 days.

Shares of CYH stock traded up $0.12 on Thursday, hitting $3.06. 34,527 shares of the company’s stock were exchanged, compared to its average volume of 1,718,252. Community Health Systems has a 12 month low of $1.79 and a 12 month high of $5.35. The stock has a market cap of $313.47 million, a P/E ratio of -1.54 and a beta of 2.36. The company has a 50 day moving average of $3.00 and a 200 day moving average of $2.99.

Community Health Systems (NYSE:CYH) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.30. The business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the company earned ($1.64) earnings per share. Community Health Systems’s quarterly revenue was down 5.9% compared to the same quarter last year. As a group, analysts predict that Community Health Systems will post -1.73 EPS for the current fiscal year.

CYH has been the topic of several analyst reports. ValuEngine raised Community Health Systems from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. SunTrust Banks reduced their target price on Community Health Systems from $4.00 to $3.50 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $3.88.

Hedge funds have recently made changes to their positions in the stock. Balyasny Asset Management LLC bought a new stake in shares of Community Health Systems during the 2nd quarter worth $29,000. Millennium Management LLC lifted its position in shares of Community Health Systems by 721.1% during the 3rd quarter. Millennium Management LLC now owns 137,218 shares of the company’s stock worth $493,000 after buying an additional 120,506 shares during the last quarter. Northern Trust Corp lifted its position in shares of Community Health Systems by 3.6% during the 2nd quarter. Northern Trust Corp now owns 1,161,698 shares of the company’s stock worth $3,102,000 after buying an additional 40,433 shares during the last quarter. Keybank National Association OH lifted its position in shares of Community Health Systems by 56.6% during the 3rd quarter. Keybank National Association OH now owns 27,500 shares of the company’s stock worth $99,000 after buying an additional 9,936 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Community Health Systems by 72.6% during the 2nd quarter. Royal Bank of Canada now owns 12,377 shares of the company’s stock worth $33,000 after buying an additional 5,205 shares during the last quarter. Institutional investors and hedge funds own 93.97% of the company’s stock.

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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