Stock Traders Buy High Volume of Call Options on Community Health Systems (NYSE:CYH)

Community Health Systems, Inc. (NYSE:CYH - Get Free Report) was the recipient of some unusual options trading activity on Thursday. Stock traders acquired 8,212 call options on the stock. This represents an increase of approximately 422% compared to the average volume of 1,574 call options.

Community Health Systems Price Performance

NYSE:CYH traded up $0.08 during midday trading on Thursday, reaching $6.00. The stock had a trading volume of 1,678,956 shares, compared to its average volume of 1,752,977. Community Health Systems has a 1-year low of $2.01 and a 1-year high of $6.29. The firm's fifty day simple moving average is $5.47 and its 200-day simple moving average is $4.25. The stock has a market capitalization of $833.10 million, a P/E ratio of -6.26 and a beta of 1.55.

Community Health Systems (NYSE:CYH - Get Free Report) last posted its earnings results on Wednesday, July 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.05). The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the previous year, the firm earned ($0.22) EPS. The company's revenue was up .8% compared to the same quarter last year. On average, equities research analysts anticipate that Community Health Systems will post -0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CYH has been the topic of several research reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $6.00 price objective on shares of Community Health Systems in a research note on Monday, August 12th. Oppenheimer increased their price target on shares of Community Health Systems from $4.50 to $5.00 and gave the stock an "outperform" rating in a research note on Thursday, July 25th. UBS Group increased 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. Wells Fargo & Company increased their price target on shares of Community Health Systems from $3.50 to $5.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 30th. Finally, Truist Financial increased their price target on shares of Community Health Systems from $3.75 to $4.25 and gave the stock a "hold" rating in a research note on Monday, July 15th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $4.73.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CYH. Red Door Wealth Management LLC boosted its holdings in Community Health Systems by 126.6% in the 1st quarter. Red Door Wealth Management LLC now owns 26,060 shares of the company's stock valued at $91,000 after purchasing an additional 14,560 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Community Health Systems in the 1st quarter valued at $241,000. BNP Paribas Financial Markets boosted its holdings in Community Health Systems by 87.0% in the 1st quarter. BNP Paribas Financial Markets now owns 61,468 shares of the company's stock valued at $215,000 after purchasing an additional 28,594 shares during the period. GSA Capital Partners LLP boosted its holdings in Community Health Systems by 8.5% in the 1st quarter. GSA Capital Partners LLP now owns 251,922 shares of the company's stock valued at $882,000 after purchasing an additional 19,787 shares during the period. Finally, BOS Asset Management LLC bought a new stake in Community Health Systems in the 1st quarter valued at $80,000. 84.99% of the stock is currently owned by institutional investors and hedge funds.

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.