Community Health Systems (NYSE:CYH) Short Interest Down 6.8% in July

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Community Health Systems (NYSE:CYH) saw a significant decline in short interest in July. As of July 31st, there was short interest totalling 26,112,300 shares, a decline of 6.8% from the June 30th total of 28,011,000 shares. Currently, 23.4% of the shares of the stock are sold short. Based on an average daily volume of 2,160,000 shares, the days-to-cover ratio is currently 12.1 days.

In other Community Health Systems news, EVP Benjamin C. Fordham acquired 25,000 shares of Community Health Systems stock in a transaction on Thursday, August 8th. The shares were bought at an average price of $2.29 per share, with a total value of $57,250.00. Following the completion of the purchase, the executive vice president now owns 159,416 shares in the company, valued at $365,062.64. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James S. Ely III acquired 50,000 shares of Community Health Systems stock in a transaction on Friday, May 17th. The stock was acquired at an average cost of $3.25 per share, for a total transaction of $162,500.00. Following the purchase, the director now owns 136,320 shares of the company’s stock, valued at approximately $443,040. The disclosure for this purchase can be found here. In the last three months, insiders acquired 129,000 shares of company stock worth $389,930. Insiders own 4.50% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CYH. Balyasny Asset Management LLC bought a new stake in Community Health Systems in the second quarter valued at about $29,000. Mercer Global Advisors Inc. ADV bought a new stake in Community Health Systems in the first quarter valued at about $45,000. FNY Investment Advisers LLC bought a new stake in Community Health Systems in the second quarter valued at about $61,000. D. E. Shaw & Co. Inc. bought a new stake in Community Health Systems in the fourth quarter valued at about $75,000. Finally, Metropolitan Life Insurance Co. NY increased its holdings in Community Health Systems by 351.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 33,022 shares of the company’s stock valued at $93,000 after purchasing an additional 25,710 shares during the last quarter. Institutional investors own 99.10% of the company’s stock.

Shares of CYH stock traded down $0.05 on Thursday, reaching $2.06. 1,697,848 shares of the stock were exchanged, compared to its average volume of 2,143,620. The company has a market capitalization of $254.99 million, a PE ratio of -1.08 and a beta of 2.43. Community Health Systems has a one year low of $1.81 and a one year high of $5.35. The firm’s 50 day moving average price is $2.34.

Community Health Systems (NYSE:CYH) last released its earnings results on Monday, August 5th. The company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.05. The firm had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.20 billion. The company’s revenue was down 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.01) EPS. On average, research analysts expect that Community Health Systems will post -1.74 EPS for the current year.

A number of equities analysts have commented on CYH shares. ValuEngine raised Community Health Systems from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Barclays set a $3.00 price objective on Community Health Systems and gave the stock a “sell” rating in a research note on Wednesday, April 17th. Piper Jaffray Companies set a $3.00 target price on Community Health Systems and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Zacks Investment Research downgraded Community Health Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada restated a “hold” rating and set a $5.00 target price on shares of Community Health Systems in a research report on Thursday, August 8th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $3.68.

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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