Trustcore Financial Services LLC Purchases New Stake in Community Health Systems (CYH)

Trustcore Financial Services LLC purchased a new position in shares of Community Health Systems (NYSE:CYH) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 171,672 shares of the company’s stock, valued at approximately $640,000.

Several other large investors have also recently bought and sold shares of the stock. Texas Permanent School Fund grew its holdings in shares of Community Health Systems by 4.0% during the fourth quarter. Texas Permanent School Fund now owns 76,095 shares of the company’s stock worth $215,000 after buying an additional 2,948 shares in the last quarter. Ausdal Financial Partners Inc. bought a new position in shares of Community Health Systems during the fourth quarter worth about $28,000. Menta Capital LLC bought a new position in shares of Community Health Systems during the fourth quarter worth about $29,000. Arizona State Retirement System grew its holdings in shares of Community Health Systems by 6.2% during the fourth quarter. Arizona State Retirement System now owns 179,076 shares of the company’s stock worth $505,000 after buying an additional 10,434 shares in the last quarter. Finally, HHM Wealth Advisors LLC bought a new position in shares of Community Health Systems during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 97.46% of the company’s stock.

CYH has been the subject of a number of recent analyst reports. Barclays set a $3.00 price objective on Community Health Systems and gave the company a “sell” rating in a research report on Wednesday, April 17th. ValuEngine raised Community Health Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 5th. Zacks Investment Research raised Community Health Systems from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a research report on Friday, January 18th. Finally, Morgan Stanley set a $4.00 price target on Community Health Systems and gave the stock a “sell” rating in a report on Friday, February 22nd. Five research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $3.61.

NYSE:CYH traded up $0.02 during mid-day trading on Thursday, hitting $3.35. 46,708 shares of the stock were exchanged, compared to its average volume of 2,094,801. The stock has a market cap of $393.14 million, a P/E ratio of -1.74 and a beta of 2.52. Community Health Systems has a fifty-two week low of $2.48 and a fifty-two week high of $5.35.

Community Health Systems (NYSE:CYH) last announced its quarterly earnings data on Tuesday, April 30th. The company reported ($0.53) earnings per share for the quarter, missing the Thomson Reuters’ 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 quarterly revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.13 earnings per share. As a group, equities research analysts predict that Community Health Systems will post -1.66 earnings per share for the current fiscal year.

In related news, CEO Wayne T. Smith acquired 993,449 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was purchased at an average cost of $3.37 per share, with a total value of $3,347,923.13. Following the acquisition, the chief executive officer now directly owns 1,959,566 shares of the company’s stock, valued at $6,603,737.42. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Wayne T. Smith acquired 323,084 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was bought at an average cost of $3.32 per share, with a total value of $1,072,638.88. Following the completion of the acquisition, the chief executive officer now directly owns 1,959,566 shares in the company, valued at $6,505,759.12. The disclosure for this purchase can be found here. 4.50% of the stock is owned by insiders.

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Community Health Systems Profile

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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