Community Health Systems (NYSE:CYH) rose 5.5% during trading on Thursday . The company traded as high as $3.83 and last traded at $3.82, approximately 2,121,500 shares traded hands during trading. A decline of 5% from the average daily volume of 2,229,818 shares. The stock had previously closed at $3.62.
CYH has been the topic of a number of recent research reports. Piper Jaffray Companies set a $3.00 price target on Community Health Systems and gave the company a “sell” rating in a research report on Wednesday, August 7th. Royal Bank of Canada reaffirmed a “hold” rating and set a $5.00 price target on shares of Community Health Systems in a research report on Thursday, August 8th. Finally, ValuEngine raised Community Health Systems from a “hold” rating to a “buy” rating in a research report on Tuesday. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $3.68.
The business has a fifty day moving average of $2.94 and a 200-day moving average of $2.98. The firm has a market cap of $452.14 million, a PE ratio of -1.97 and a beta of 2.37.
In related news, CEO Wayne T. Smith acquired 1,200,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were acquired at an average price of $1.99 per share, with a total value of $2,388,000.00. Following the acquisition, the chief executive officer now owns 3,132,082 shares of the company’s stock, valued at approximately $6,232,843.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Benjamin C. Fordham purchased 25,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was acquired at an average cost of $1.85 per share, for a total transaction of $46,250.00. Following the acquisition, the executive vice president now owns 184,416 shares in the company, valued at $341,169.60. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,250,000 shares of company stock worth $2,491,500 in the last three months. 4.50% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Balyasny Asset Management LLC purchased a new stake in shares of Community Health Systems in the 2nd quarter valued at about $29,000. Royal Bank of Canada raised its holdings in shares of Community Health Systems by 72.6% in the 2nd quarter. Royal Bank of Canada now owns 12,377 shares of the company’s stock valued at $33,000 after acquiring an additional 5,205 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Community Health Systems in the 2nd quarter valued at about $61,000. SG Americas Securities LLC purchased a new stake in shares of Community Health Systems in the 1st quarter valued at about $142,000. Finally, Creative Planning purchased a new stake in shares of Community Health Systems in the 2nd quarter valued at about $147,000. 96.42% of the stock is currently owned by hedge funds and other institutional investors.
Community Health Systems Company Profile (NYSE:CYH)
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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