Community Health Systems Sees Unusually High Options Volume (NYSE:CYH)

Community Health Systems, Inc. (NYSE:CYH) saw unusually large options trading activity on Wednesday. Traders bought 11,874 call options on the stock. This is an increase of approximately 447% compared to the average volume of 2,170 call options.

Community Health Systems Price Performance

Shares of CYH traded up $0.01 during trading hours on Wednesday, reaching $2.97. 552,210 shares of the company traded hands, compared to its average volume of 2,028,815. The business has a fifty day moving average price of $3.11 and a 200-day moving average price of $3.05. Community Health Systems has a 12-month low of $2.01 and a 12-month high of $6.53.

Community Health Systems (NYSE:CYH) last announced its quarterly earnings data on Wednesday, February 21st. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.44). The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.16 billion. Community Health Systems had a negative net margin of 1.07% and a negative return on equity of 5.51%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.50 earnings per share. On average, equities research analysts predict that Community Health Systems will post -0.45 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Barclays assumed coverage on shares of Community Health Systems in a research report on Wednesday, March 6th. They set an “equal weight” rating and a $3.00 target price on the stock. Oppenheimer reduced their target price on shares of Community Health Systems from $6.50 to $5.50 and set an “outperform” rating for the company in a report on Thursday, February 22nd. Finally, StockNews.com raised Community Health Systems from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $4.20.

Institutional Trading of Community Health Systems

Several institutional investors and hedge funds have recently bought and sold shares of the business. Red Door Wealth Management LLC raised its stake in shares of Community Health Systems by 126.6% during the 1st quarter. Red Door Wealth Management LLC now owns 26,060 shares of the company’s stock valued at $91,000 after buying an additional 14,560 shares during the last quarter. Jones Road Capital Management L.P. grew its holdings in Community Health Systems by 50.0% during the fourth quarter. Jones Road Capital Management L.P. now owns 150,000 shares of the company’s stock worth $470,000 after acquiring an additional 50,000 shares during the period. Lighthouse Investment Partners LLC purchased a new position in Community Health Systems during the fourth quarter valued at approximately $300,000. Tower Research Capital LLC TRC boosted its position in Community Health Systems by 669.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 29,759 shares of the company’s stock worth $93,000 after purchasing an additional 25,889 shares in the last quarter. Finally, Eagle Asset Management Inc. purchased a new position in shares of Community Health Systems during the 4th quarter valued at approximately $40,000. 84.99% of the stock is currently owned by institutional investors and hedge funds.

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.