Y Intercept Hong Kong Ltd Purchases Shares of 82,418 Community Health Systems, Inc. (NYSE:CYH)

Y Intercept Hong Kong Ltd acquired a new position in Community Health Systems, Inc. (NYSE:CYH) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 82,418 shares of the company’s stock, valued at approximately $500,000. Y Intercept Hong Kong Ltd owned 0.06% of Community Health Systems at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CYH. Assenagon Asset Management S.A. bought a new stake in shares of Community Health Systems in the 2nd quarter valued at $5,121,000. Bank of Montreal Can bought a new stake in Community Health Systems during the second quarter valued at $3,692,000. Whitebox Advisors LLC raised its position in shares of Community Health Systems by 43.3% in the 2nd quarter. Whitebox Advisors LLC now owns 3,020,933 shares of the company’s stock worth $10,150,000 after acquiring an additional 913,542 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Community Health Systems by 51.0% in the 2nd quarter. Marshall Wace LLP now owns 942,303 shares of the company’s stock valued at $3,166,000 after purchasing an additional 318,333 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Community Health Systems by 111.8% during the second quarter. Renaissance Technologies LLC now owns 537,093 shares of the company’s stock worth $1,805,000 after purchasing an additional 283,500 shares during the period. Institutional investors and hedge funds own 84.99% of the company’s stock.

Community Health Systems Stock Performance

CYH stock opened at $3.47 on Monday. The business has a 50-day simple moving average of $4.31 and a two-hundred day simple moving average of $4.49. The company has a market capitalization of $482.15 million, a P/E ratio of -1.15 and a beta of 1.55. Community Health Systems, Inc. has a 52-week low of $2.51 and a 52-week high of $6.29.

Community Health Systems (NYSE:CYH) last released its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.14). The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the firm earned ($0.33) earnings per share. Community Health Systems’s quarterly revenue was up .1% compared to the same quarter last year. As a group, sell-side analysts forecast that Community Health Systems, Inc. will post -0.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CYH has been the topic of a number of research analyst reports. Raymond James cut Community Health Systems from a “market perform” rating to an “underperform” rating in a report on Friday, November 22nd. StockNews.com downgraded shares of Community Health Systems from a “hold” rating to a “sell” rating in a research note on Monday, November 25th. Wells Fargo & Company cut shares of Community Health Systems from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $5.00 to $2.50 in a research report on Monday, November 25th. Barclays boosted their target price on Community Health Systems from $3.00 to $5.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Finally, Truist Financial reduced their price objective on Community Health Systems from $5.50 to $5.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $4.77.

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.