Connor Clark & Lunn Investment Management Ltd. Sells 1,254,204 Shares of Community Health Systems (CYH)

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Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of Community Health Systems (NYSE:CYH) by 25.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,733,836 shares of the company’s stock after selling 1,254,204 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Community Health Systems were worth $13,927,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CYH. Vanguard Group Inc lifted its position in shares of Community Health Systems by 9.3% in the third quarter. Vanguard Group Inc now owns 11,219,038 shares of the company’s stock valued at $38,817,000 after buying an additional 957,865 shares during the last quarter. MetLife Investment Advisors LLC lifted its position in shares of Community Health Systems by 59.8% in the third quarter. MetLife Investment Advisors LLC now owns 69,351 shares of the company’s stock valued at $240,000 after buying an additional 25,942 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Community Health Systems in the third quarter valued at approximately $406,000. Gotham Asset Management LLC lifted its position in shares of Community Health Systems by 60.7% in the fourth quarter. Gotham Asset Management LLC now owns 186,747 shares of the company’s stock valued at $527,000 after buying an additional 70,570 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Community Health Systems in the fourth quarter valued at approximately $205,000. 98.87% of the stock is owned by institutional investors.

A number of equities analysts have recently weighed in on the company. Barclays set a $3.00 target price on Community Health Systems and gave the stock a “sell” rating in a research note on Wednesday, April 17th. Zacks Investment Research lowered Community Health Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. ValuEngine lowered Community Health Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, Morgan Stanley set a $4.00 price objective on Community Health Systems and gave the stock a “sell” rating in a research note on Friday, February 22nd. Five research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $3.61.

In other Community Health Systems news, CEO Wayne T. Smith bought 323,084 shares of Community Health Systems stock in a transaction on Friday, May 3rd. The shares were purchased at an average price of $3.32 per share, with a total value of $1,072,638.88. Following the acquisition, the chief executive officer now owns 1,959,566 shares in the company, valued at approximately $6,505,759.12. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Wayne T. Smith bought 993,449 shares of Community Health Systems stock in a transaction on Tuesday, May 7th. The stock was acquired at an average cost of $3.37 per share, for a total transaction of $3,347,923.13. Following the acquisition, the chief executive officer now owns 1,959,566 shares in the company, valued at approximately $6,603,737.42. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 1,416,533 shares of company stock worth $4,740,562. Company insiders own 4.50% of the company’s stock.

Community Health Systems stock opened at $3.22 on Friday. Community Health Systems has a one year low of $2.48 and a one year high of $5.35. The firm has a market cap of $397.87 million, a price-to-earnings ratio of -1.66 and a beta of 2.52.

Community Health Systems (NYSE:CYH) last posted its quarterly earnings data on Tuesday, April 30th. The company reported ($0.53) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.44) by ($0.09). The business had revenue of $3.38 billion during the quarter, compared to analysts’ expectations of $3.30 billion. Community Health Systems’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.13 EPS. On average, equities analysts forecast that Community Health Systems will post -1.66 earnings per share for the current year.

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About Community Health Systems

Community Health Systems, Inc, together with its subsidiaries, owns, leases, and operates general acute care hospitals in the United States. The company 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.

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

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