Community Health Systems Target of Unusually High Options Trading (NYSE:CYH)

Community Health Systems, Inc. (NYSE:CYH) was the recipient of some unusual options trading on Thursday. Stock traders acquired 5,385 call options on the stock. This is an increase of approximately 182% compared to the typical daily volume of 1,909 call options.

Institutional Trading of Community Health Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. nVerses Capital LLC purchased a new position in Community Health Systems in the second quarter valued at $25,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Community Health Systems during the second quarter worth $33,000. Signaturefd LLC acquired a new stake in shares of Community Health Systems in the third quarter valued at about $33,000. Canada Pension Plan Investment Board acquired a new position in Community Health Systems during the second quarter worth about $45,000. Finally, CWM LLC raised its holdings in Community Health Systems by 32.1% in the 3rd quarter. CWM LLC now owns 12,191 shares of the company’s stock valued at $74,000 after acquiring an additional 2,961 shares during the last quarter. Institutional investors own 84.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CYH. Raymond James cut Community Health Systems from a “market perform” rating to an “underperform” rating in a research note on Friday, November 22nd. StockNews.com cut shares of Community Health Systems from a “hold” rating to a “sell” rating in a research report on Monday, November 25th. 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. Wells Fargo & Company lowered shares of Community Health Systems from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $5.00 to $2.50 in a report on Monday, November 25th. Finally, Barclays lifted their price target on shares of Community Health Systems from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $4.77.

Community Health Systems Trading Up 4.3 %

CYH traded up $0.13 during trading hours on Thursday, hitting $3.12. The company’s stock had a trading volume of 550,161 shares, compared to its average volume of 1,977,800. Community Health Systems has a 12 month low of $2.51 and a 12 month high of $6.29. The business’s 50-day moving average price is $3.66 and its 200-day moving average price is $4.43. The stock has a market cap of $433.52 million, a price-to-earnings ratio of -1.03 and a beta of 1.55.

Community Health Systems (NYSE:CYH) last announced its earnings results on Wednesday, October 23rd. The company reported ($0.30) earnings per share 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 analyst estimates of $3.08 billion. During the same quarter in the prior year, the company posted ($0.33) earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. On average, analysts forecast that Community Health Systems will post -0.56 earnings per share for the current 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.