Community Health Systems, Inc. (NYSE:CYH) Shares Sold by Columbus Hill Capital Management L.P.

Columbus Hill Capital Management L.P. cut its stake in Community Health Systems, Inc. (NYSE:CYH) by 19.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 659,200 shares of the company’s stock after selling 163,277 shares during the period. Community Health Systems makes up approximately 0.5% of Columbus Hill Capital Management L.P.’s holdings, making the stock its 27th largest holding. Columbus Hill Capital Management L.P. owned about 0.47% of Community Health Systems worth $2,215,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in 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 worth $337,000 after purchasing an additional 6,852 shares in the last quarter. nVerses Capital LLC acquired a new stake in Community Health Systems in the 2nd quarter valued at about $25,000. XTX Topco Ltd increased its holdings in Community Health Systems by 16.2% during the 2nd quarter. XTX Topco Ltd now owns 72,877 shares of the company’s stock valued at $245,000 after acquiring an additional 10,174 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Community Health Systems during the second quarter worth about $33,000. Finally, Eagle Asset Management Inc. purchased a new stake in shares of Community Health Systems in the fourth quarter valued at about $40,000. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CYH. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $6.00 target price on shares of Community Health Systems in a research note on Monday, August 12th. Truist Financial increased their price objective on Community Health Systems from $3.75 to $4.25 and gave the company a “hold” rating in a research note on Monday, July 15th. Oppenheimer boosted their target price on shares of Community Health Systems from $4.50 to $5.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. UBS Group raised their price target on shares of Community Health Systems from $4.70 to $5.10 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. Finally, Wells Fargo & Company boosted their price objective on shares of Community Health Systems from $3.50 to $5.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $4.73.

Community Health Systems Price Performance

NYSE CYH opened at $5.90 on Friday. The company has a 50-day moving average of $5.00 and a 200-day moving average of $3.90. Community Health Systems, Inc. has a 12 month low of $2.01 and a 12 month high of $5.98. The company has a market cap of $819.90 million, a P/E ratio of -6.21 and a beta of 1.56.

Community Health Systems (NYSE:CYH) last posted its quarterly earnings results on Wednesday, July 24th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.05). The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.10 billion. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.22) earnings per share. As a group, equities research analysts anticipate that Community Health Systems, Inc. will post -0.42 EPS for the current year.

About Community Health Systems

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.