Community Health Systems, Inc. (NYSE:CYH) Sees Large Drop in Short Interest

Community Health Systems, Inc. (NYSE:CYH) was the recipient of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 12,900,000 shares, a decrease of 5.8% from the January 15th total of 13,700,000 shares. Based on an average daily volume of 2,580,000 shares, the days-to-cover ratio is presently 5.0 days. Currently, 10.9% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

CYH has been the subject of a number of recent research reports. 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. Barclays increased their price objective on shares of 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 cut shares of Community Health Systems from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $5.00 to $2.50 in a research note on Monday, November 25th. Truist Financial dropped their price objective on shares of Community Health Systems from $5.00 to $3.50 and set a “hold” rating for the company in a research note on Monday, January 6th. 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 analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $4.52.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. CWM LLC boosted its stake in shares of Community Health Systems by 32.1% in the 3rd quarter. CWM LLC now owns 12,191 shares of the company’s stock valued at $74,000 after purchasing an additional 2,961 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Community Health Systems by 4.1% in the 3rd quarter. Franklin Resources Inc. now owns 75,520 shares of the company’s stock valued at $422,000 after purchasing an additional 2,989 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Community Health Systems by 4.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,783 shares of the company’s stock valued at $215,000 after purchasing an additional 3,124 shares during the last quarter. Rhumbline Advisers boosted its stake in Community Health Systems by 2.4% during the 4th quarter. Rhumbline Advisers now owns 201,436 shares of the company’s stock worth $602,000 after acquiring an additional 4,654 shares during the last quarter. Finally, Signaturefd LLC bought a new position in Community Health Systems during the 3rd quarter worth approximately $33,000. Institutional investors own 84.99% of the company’s stock.

Community Health Systems Stock Up 7.9 %

Shares of Community Health Systems stock opened at $3.62 on Thursday. The stock has a market capitalization of $502.30 million, a P/E ratio of -1.20 and a beta of 1.63. The company has a 50-day simple moving average of $3.21 and a 200 day simple moving average of $4.29. Community Health Systems has a 12-month low of $2.51 and a 12-month high of $6.29.

Community Health Systems (NYSE:CYH) last issued its quarterly earnings data on Tuesday, February 18th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.51). The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.14 billion. On average, equities analysts anticipate that Community Health Systems will post -0.55 earnings per share for the current year.

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.