Community Health Systems Target of Unusually High Options Trading (NYSE:CYH)

Community Health Systems, Inc. (NYSE:CYH - Get Free Report) was the recipient of some unusual options trading on Friday. Stock investors bought 11,316 call options on the stock. This represents an increase of approximately 612% compared to the average daily volume of 1,590 call options.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CYH shares. UBS Group increased their price objective on Community Health Systems from $4.70 to $5.10 and gave the company a "neutral" rating in a report on Wednesday, August 14th. 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 report on Monday, July 15th. Oppenheimer increased their price objective on Community Health Systems from $4.50 to $5.00 and gave the company an "outperform" rating in a report on Thursday, July 25th. Royal Bank of Canada reiterated an "outperform" rating and set a $6.00 price objective on shares of Community Health Systems in a report on Monday, August 12th. Finally, Wells Fargo & Company increased their price objective on Community Health Systems from $3.50 to $5.00 and gave the company an "equal weight" rating in a report on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Community Health Systems has an average rating of "Hold" and an average target price of $4.73.

Community Health Systems Stock Performance

CYH stock traded up $0.17 during midday trading on Friday, reaching $5.72. The stock had a trading volume of 2,943,431 shares, compared to its average volume of 1,838,277. The firm has a fifty day simple moving average of $4.59 and a two-hundred day simple moving average of $3.73. The stock has a market cap of $794.19 million, a PE ratio of -6.02 and a beta of 1.56. Community Health Systems has a 52-week low of $2.01 and a 52-week high of $5.81.

Community Health Systems (NYSE:CYH - Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.05). The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.10 billion. The business'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 earned ($0.22) earnings per share. On average, sell-side analysts predict that Community Health Systems will post -0.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Community Health Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Algert Global LLC grew its position in Community Health Systems by 250.7% during the 2nd quarter. Algert Global LLC now owns 113,643 shares of the company's stock worth $382,000 after purchasing an additional 81,236 shares during the period. Susquehanna Fundamental Investments LLC grew its position in shares of Community Health Systems by 13.7% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 367,593 shares of the company's stock valued at $1,235,000 after acquiring an additional 44,181 shares during the period. Mackenzie Financial Corp grew its position in shares of Community Health Systems by 6.8% during the 2nd quarter. Mackenzie Financial Corp now owns 33,269 shares of the company's stock valued at $112,000 after acquiring an additional 2,106 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Community Health Systems by 5.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,701 shares of the company's stock valued at $167,000 after acquiring an additional 2,739 shares during the period. Finally, Whitebox Advisors LLC grew its position in shares of Community Health Systems by 43.3% during the 2nd quarter. Whitebox Advisors LLC now owns 3,020,933 shares of the company's stock valued at $10,150,000 after acquiring an additional 913,542 shares during the period. 84.99% of the stock is owned by institutional investors and hedge funds.

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.