Whitebox Advisors LLC Cuts Stock Position in Community Health Systems, Inc. (NYSE:CYH)

Whitebox Advisors LLC cut its stake in Community Health Systems, Inc. (NYSE:CYH) by 51.6% in the third quarter, HoldingsChannel reports. The firm owned 1,462,773 shares of the company’s stock after selling 1,558,160 shares during the quarter. Whitebox Advisors LLC’s holdings in Community Health Systems were worth $8,879,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CYH. Assenagon Asset Management S.A. acquired a new stake in shares of Community Health Systems during the 2nd quarter worth about $5,121,000. Bank of Montreal Can purchased a new position in shares of Community Health Systems in the 2nd quarter valued at $3,692,000. Marshall Wace LLP grew its holdings in shares of Community Health Systems by 51.0% during the second quarter. Marshall Wace LLP now owns 942,303 shares of the company’s stock worth $3,166,000 after purchasing an additional 318,333 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Community Health Systems by 111.8% in the 2nd quarter. Renaissance Technologies LLC now owns 537,093 shares of the company’s stock valued at $1,805,000 after purchasing an additional 283,500 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Community Health Systems in the 2nd quarter valued at about $871,000. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Wall Street Analysts Forecast Growth

CYH has been the subject of a number of research reports. UBS Group boosted their price objective on Community Health Systems from $4.70 to $5.10 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Raymond James cut Community Health Systems from a “market perform” rating to an “underperform” rating in a research report on Friday, November 22nd. Barclays lifted their target price on Community Health Systems from $3.00 to $5.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Truist Financial dropped their price objective on shares of Community Health Systems from $5.50 to $5.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Finally, StockNews.com downgraded shares of Community Health Systems from a “hold” rating to a “sell” rating in a report on Monday, November 25th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Community Health Systems presently has an average rating of “Hold” and an average price target of $4.77.

Community Health Systems Stock Down 1.6 %

Shares of NYSE CYH opened at $3.38 on Friday. The firm has a 50-day moving average price of $4.58 and a 200 day moving average price of $4.49. Community Health Systems, Inc. has a 52 week low of $2.31 and a 52 week high of $6.29. The stock has a market capitalization of $468.96 million, a price-to-earnings ratio of -1.12 and a beta of 1.55.

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 during the quarter, compared to analyst estimates of $3.08 billion. Community Health Systems’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.33) EPS. Equities research analysts expect that Community Health Systems, Inc. will post -0.55 EPS for the current fiscal year.

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.