Thoroughbred Financial Services LLC Sells 6,000 Shares of Community Health Systems, Inc. (NYSE:CYH)

Thoroughbred Financial Services LLC lowered its position in shares of Community Health Systems, Inc. (NYSE:CYH) by 14.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,687 shares of the company’s stock after selling 6,000 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Community Health Systems were worth $108,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Panagora Asset Management Inc. increased its holdings in Community Health Systems by 0.9% in the fourth quarter. Panagora Asset Management Inc. now owns 730,256 shares of the company’s stock valued at $2,286,000 after purchasing an additional 6,333 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in Community Health Systems by 8.4% in the fourth quarter. First Eagle Investment Management LLC now owns 1,578,121 shares of the company’s stock valued at $4,940,000 after purchasing an additional 122,000 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Community Health Systems by 14.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,583,032 shares of the company’s stock valued at $17,475,000 after purchasing an additional 701,036 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Community Health Systems by 46.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 114,710 shares of the company’s stock worth $359,000 after acquiring an additional 36,360 shares in the last quarter. Finally, abrdn plc bought a new stake in shares of Community Health Systems in the fourth quarter worth about $276,000. Institutional investors own 84.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CYH. Barclays initiated coverage on Community Health Systems in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $3.00 price target for the company. Oppenheimer reduced their price objective on Community Health Systems from $5.50 to $4.50 and set an “outperform” rating for the company in a research report on Thursday, April 25th. StockNews.com raised Community Health Systems from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. Finally, Truist Financial upped their price objective on Community Health Systems from $3.25 to $3.75 and gave the stock a “hold” rating in a research report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $4.05.

Community Health Systems Stock Performance

NYSE:CYH opened at $3.55 on Friday. The stock’s 50 day moving average price is $3.27 and its two-hundred day moving average price is $3.19. Community Health Systems, Inc. has a 12-month low of $2.01 and a 12-month high of $5.20.

Community Health Systems (NYSE:CYH) last released its quarterly earnings data on Wednesday, April 24th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.05. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.09 billion. Community Health Systems had a negative return on equity of 5.51% and a negative net margin of 0.99%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.43) earnings per share. Equities analysts predict that Community Health Systems, Inc. will post -0.32 EPS for the current fiscal year.

Community Health Systems 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.