Stock Traders Buy Large Volume of Call Options on Community Health Systems (NYSE:CYH)

Community Health Systems, Inc. (NYSE:CYH) saw some unusual options trading on Thursday. Investors bought 5,385 call options on the company. This represents an increase of 182% compared to the typical volume of 1,909 call options.

Institutional Investors Weigh In On Community Health Systems

Large investors have recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new stake in shares of Community Health Systems during the 2nd quarter valued at about $25,000. DekaBank Deutsche Girozentrale bought a new position in Community Health Systems during the 2nd quarter worth $33,000. Signaturefd LLC acquired a new stake in Community Health Systems in the third quarter worth $33,000. Canada Pension Plan Investment Board acquired a new position in shares of Community Health Systems during the second quarter valued at $45,000. Finally, CWM LLC grew its position in shares of Community Health Systems by 32.1% during the third quarter. CWM LLC now owns 12,191 shares of the company’s stock worth $74,000 after acquiring an additional 2,961 shares during the last quarter. 84.99% of the stock is owned by institutional investors and hedge funds.

Community Health Systems Stock Up 4.3 %

Shares of CYH stock traded up $0.13 on Thursday, reaching $3.12. 550,161 shares of the stock were exchanged, compared to its average volume of 1,977,800. The stock has a market cap of $433.52 million, a P/E ratio of -1.03 and a beta of 1.55. The firm has a 50 day moving average of $3.66 and a two-hundred day moving average of $4.43. Community Health Systems has a 1-year low of $2.51 and a 1-year high of $6.29.

Community Health Systems (NYSE:CYH) last released its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.14). The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the prior year, the firm earned ($0.33) earnings per share. The firm’s quarterly revenue was up .1% on a year-over-year basis. On average, equities research analysts predict that Community Health Systems will post -0.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Community Health Systems from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Truist Financial lowered their price target 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. Raymond James downgraded shares of Community Health Systems from a “market perform” rating to an “underperform” rating in a report on Friday, November 22nd. StockNews.com cut Community Health Systems from a “hold” rating to a “sell” rating in a report on Monday, November 25th. Finally, Wells Fargo & Company downgraded 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. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $4.77.

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.