Virtu Financial LLC decreased its position in shares of Community Health Systems (NYSE:CYH) by 31.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 49,935 shares of the company’s stock after selling 22,760 shares during the period. Virtu Financial LLC’s holdings in Community Health Systems were worth $187,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. Ausdal Financial Partners Inc. purchased a new stake in shares of Community Health Systems in the 4th quarter worth $28,000. Menta Capital LLC purchased a new stake in shares of Community Health Systems in the 4th quarter worth $29,000. HHM Wealth Advisors LLC purchased a new stake in shares of Community Health Systems in the 4th quarter worth $38,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Community Health Systems in the 1st quarter worth $45,000. Finally, Thoroughbred Financial Services LLC purchased a new stake in shares of Community Health Systems in the 4th quarter worth $64,000. Hedge funds and other institutional investors own 97.46% of the company’s stock.
Several equities research analysts have recently commented on CYH shares. Barclays set a $3.00 price objective on Community Health Systems and gave the stock a “sell” rating in a research note on Wednesday, April 17th. ValuEngine upgraded Community Health Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 5th. Zacks Investment Research lowered Community Health Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Finally, Morgan Stanley set a $4.00 price target on Community Health Systems and gave the stock a “sell” rating in a research note on Friday, February 22nd. Five research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $3.61.
In other news, CEO Wayne T. Smith acquired 323,084 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average price of $3.32 per share, with a total value of $1,072,638.88. Following the completion of the purchase, the chief executive officer now directly owns 1,959,566 shares in the company, valued at $6,505,759.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James S. Ely III acquired 50,000 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was purchased at an average cost of $3.15 per share, with a total value of $157,500.00. Following the purchase, the director now owns 136,320 shares of the company’s stock, valued at $429,408. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 1,416,533 shares of company stock valued at $4,740,562. 4.50% of the stock is owned by insiders.
Shares of Community Health Systems stock traded up $0.03 during trading on Wednesday, reaching $3.40. 1,315,510 shares of the stock traded hands, compared to its average volume of 2,059,546. The firm has a market cap of $387.25 million, a price-to-earnings ratio of -1.75 and a beta of 2.52. Community Health Systems has a 52-week low of $2.48 and a 52-week high of $5.35.
Community Health Systems (NYSE:CYH) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.53) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.44) by ($0.09). The company had revenue of $3.38 billion for the quarter, compared to analysts’ expectations of $3.30 billion. During the same period last year, the firm posted $0.13 earnings per share. The company’s revenue was down 8.5% compared to the same quarter last year. Sell-side analysts forecast that Community Health Systems will post -1.66 earnings per share for the current fiscal year.
Community Health Systems Profile
Community Health Systems, Inc, together with its subsidiaries, owns, leases, and operates general acute care hospitals in the United States. The company 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.
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