Shanda Media Ltd

recently disclosed that they own a 22.1% stake in Community Health Systems, Inc. (NYSE:CYH) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission on Tuesday, August 15th. The investor owns 25,407,682 shares of the stock worth approximately $186,746,463. The reporting parties listed on the disclosure included Tianqiao Chen, Shanda Media Limited, Shanda Investment Group Limited, Shanda Technology Overseas Capital Company Limited and Shanda Asset Management Holdings Limited. The disclosure is available through EDGAR at this link.

Shanda Media Ltd

provided the following explanation of their ownership:

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Other hedge funds and other institutional investors have also modified their holdings of the company. HighTower Advisors LLC raised its position in shares of Community Health Systems by 0.3% in the second quarter. HighTower Advisors LLC now owns 17,203 shares of the company’s stock valued at $170,000 after buying an additional 51 shares during the period. Nisa Investment Advisors LLC raised its position in Community Health Systems by 1.1% in the second quarter. Nisa Investment Advisors LLC now owns 22,750 shares of the company’s stock valued at $227,000 after buying an additional 250 shares during the last quarter. State of Alaska Department of Revenue raised its position in Community Health Systems by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 12,570 shares of the company’s stock valued at $111,000 after buying an additional 270 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Community Health Systems by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 46,700 shares of the company’s stock valued at $465,000 after buying an additional 300 shares during the last quarter. Finally, World Asset Management Inc raised its position in Community Health Systems by 3.2% in the first quarter. World Asset Management Inc now owns 12,377 shares of the company’s stock valued at $110,000 after buying an additional 387 shares during the last quarter. 95.64% of the stock is currently owned by institutional investors.

Shares of Community Health Systems, Inc. (CYH) traded down 7.088% during trading on Tuesday, reaching $6.829. 6,021,973 shares of the company were exchanged. The company’s market capitalization is $764.40 million. Community Health Systems, Inc. has a one year low of $4.15 and a one year high of $13.28. The firm’s 50 day moving average price is $8.46 and its 200 day moving average price is $8.67.

Community Health Systems (NYSE:CYH) last issued its quarterly earnings data on Tuesday, August 1st. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of $0.06 by $0.31. Community Health Systems had a negative net margin of 3.63% and a positive return on equity of 0.07%. The company had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter last year, the business posted $0.09 earnings per share. Community Health Systems’s revenue was down 9.7% on a year-over-year basis. Equities research analysts forecast that Community Health Systems, Inc. will post ($0.32) earnings per share for the current fiscal year.

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Several research firms recently weighed in on CYH. Zacks Investment Research lowered shares of Community Health Systems from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 3rd. BidaskClub raised shares of Community Health Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Vetr lowered shares of Community Health Systems from a “hold” rating to a “sell” rating and set a $8.62 price objective on the stock. in a research note on Monday, April 17th. Piper Jaffray Companies reissued a “sell” rating and set a $9.00 price objective on shares of Community Health Systems in a research note on Wednesday, July 26th. Finally, Morgan Stanley began coverage on shares of Community Health Systems in a research note on Tuesday, June 6th. They set an “underweight” rating and a $9.50 price objective on the stock. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. Community Health Systems currently has an average rating of “Hold” and a consensus target price of $8.02.

Community Health Systems Company Profile

Community Health Systems, Inc is an operator of general acute care hospitals and outpatient facilities in communities across the country. The Company operates through hospital operations segment, which includes its general acute care hospitals and related healthcare entities that provide inpatient and outpatient healthcare services.

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Institutional Ownership by Quarter for Community Health Systems (NYSE:CYH)

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