Algert Global LLC Raises Holdings in Community Health Systems, Inc. (NYSE:CYH)

Algert Global LLC raised its stake in shares of Community Health Systems, Inc. (NYSE:CYH) by 39.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 158,587 shares of the company’s stock after buying an additional 44,944 shares during the quarter. Algert Global LLC owned about 0.11% of Community Health Systems worth $963,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Mackenzie Financial Corp boosted its stake in shares of Community Health Systems by 6.8% during the second quarter. Mackenzie Financial Corp now owns 33,269 shares of the company’s stock valued at $112,000 after acquiring an additional 2,106 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Community Health Systems by 5.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,701 shares of the company’s stock worth $167,000 after purchasing an additional 2,739 shares during the last quarter. CWM LLC raised its position in shares of Community Health Systems by 32.1% in the third quarter. CWM LLC now owns 12,191 shares of the company’s stock valued at $74,000 after buying an additional 2,961 shares during the last quarter. Signaturefd LLC purchased a new position in shares of Community Health Systems during the third quarter valued at approximately $33,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Community Health Systems by 7.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 96,027 shares of the company’s stock worth $337,000 after acquiring an additional 6,852 shares during the last quarter. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Community Health Systems Stock Performance

CYH opened at $3.46 on Friday. The company has a market cap of $480.07 million, a PE ratio of -1.15 and a beta of 1.60. Community Health Systems, Inc. has a 1 year low of $2.31 and a 1 year high of $6.29. The firm has a 50 day moving average price of $4.84 and a 200 day moving average price of $4.49.

Community Health Systems (NYSE:CYH) last issued 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 business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the business earned ($0.33) earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year. On average, sell-side analysts predict that Community Health Systems, Inc. will post -0.52 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. StockNews.com downgraded Community Health Systems from a “hold” rating to a “sell” rating in a report on Monday, November 25th. Truist Financial reduced their target price on Community Health Systems from $5.50 to $5.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Royal Bank of Canada restated an “outperform” rating and issued a $6.00 price target on shares of Community Health Systems in a report on Monday, August 12th. Raymond James lowered shares of Community Health Systems from a “market perform” rating to an “underperform” rating in a report on Friday, November 22nd. Finally, Wells Fargo & Company downgraded shares of Community Health Systems from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $5.00 to $2.50 in a report on Monday, November 25th. Three equities 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, the company presently has an average rating of “Hold” and a consensus 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.