Jefferies Financial Group Inc. bought a new position in shares of Community Health Systems, Inc. (NYSE:CYH – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 742,900 shares of the company’s stock, valued at approximately $2,481,000. Jefferies Financial Group Inc. owned approximately 0.53% of Community Health Systems as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of CYH. BlackRock Inc. purchased a new position in Community Health Systems during the second quarter worth approximately $36,508,000. Bank of America Corp DE purchased a new stake in Community Health Systems in the second quarter valued at approximately $5,904,000. Marshall Wace LLP lifted its stake in Community Health Systems by 276.3% during the 4th quarter. Marshall Wace LLP now owns 1,523,837 shares of the company’s stock worth $4,754,000 after acquiring an additional 1,118,864 shares in the last quarter. Owl Creek Asset Management L.P. boosted its stake in shares of Community Health Systems by 65.4% in the first quarter. Owl Creek Asset Management L.P. now owns 2,530,622 shares of the company’s stock valued at $7,440,000 after purchasing an additional 1,000,862 shares during the period. Finally, Carronade Capital Management LP boosted its holdings in Community Health Systems by 306.7% in the first quarter. Carronade Capital Management LP now owns 1,321,923 shares of the company’s stock valued at $3,886,000 after purchasing an additional 996,923 shares during the period. 84.99% of the stock is currently owned by hedge funds and other institutional investors.
Community Health Systems Stock Performance
Shares of CYH opened at $2.95 on Friday. Community Health Systems, Inc. has a fifty-two week low of $2.40 and a fifty-two week high of $4.43. The stock has a fifty day moving average of $3.13 and a two-hundred day moving average of $3.08. The company has a market capitalization of $415.98 million, a PE ratio of 1.59 and a beta of 1.84.
Insider Transactions at Community Health Systems
In other news, Director William Norris Jennings sold 40,000 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $2.96, for a total value of $118,400.00. Following the completion of the sale, the director owned 38,468 shares of the company’s stock, valued at $113,865.28. This represents a 50.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 11.10% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on CYH shares. Truist Financial cut their price target on Community Health Systems from $3.75 to $3.25 and set a “hold” rating on the stock in a research note on Monday, July 27th. Barclays reduced their price objective on shares of Community Health Systems from $3.00 to $2.50 and set an “underweight” rating for the company in a research report on Thursday, July 23rd. Wall Street Zen downgraded shares of Community Health Systems from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. UBS Group decreased their price objective on Community Health Systems from $3.20 to $3.00 and set a “neutral” rating for the company in a report on Friday, July 24th. Finally, Royal Bank Of Canada decreased their price target on shares of Community Health Systems from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Monday, July 27th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $2.95.
Get Our Latest Stock Report on Community Health Systems
About Community Health Systems
Community Health Systems, Inc (NYSE: CYH) is one of the largest publicly traded hospital operators in the United States. Headquartered in Franklin, Tennessee, the company owns, leases and manages general acute care hospitals and outpatient facilities, primarily in non-urban and mid-market communities. CHS is focused on delivering locally accessible healthcare services through its network of affiliated hospitals, clinics and post-acute providers.
The company’s core offerings include inpatient medical and surgical care, emergency services, critical care, diagnostic imaging and laboratory testing.
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