Magnus Financial Group LLC Lowers Position in Community Health Systems (NYSE:CYH)

Magnus Financial Group LLC decreased its position in Community Health Systems (NYSE:CYH) by 34.7% during the 2nd quarter, Holdings Channel reports. The fund owned 16,742 shares of the company’s stock after selling 8,880 shares during the quarter. Magnus Financial Group LLC’s holdings in Community Health Systems were worth $45,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in Community Health Systems by 10.1% during the fourth quarter. Geode Capital Management LLC now owns 1,153,879 shares of the company’s stock worth $3,253,000 after buying an additional 106,224 shares in the last quarter. Northern Trust Corp raised its position in Community Health Systems by 2.8% during the fourth quarter. Northern Trust Corp now owns 1,232,646 shares of the company’s stock worth $3,477,000 after acquiring an additional 33,496 shares during the last quarter. Two Sigma Advisers LP raised its position in Community Health Systems by 298.5% during the fourth quarter. Two Sigma Advisers LP now owns 49,200 shares of the company’s stock worth $139,000 after acquiring an additional 36,854 shares during the last quarter. Systematic Financial Management LP raised its position in Community Health Systems by 6.9% during the second quarter. Systematic Financial Management LP now owns 295,610 shares of the company’s stock worth $789,000 after acquiring an additional 19,195 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Community Health Systems during the first quarter worth about $45,000. 96.62% of the stock is currently owned by institutional investors and hedge funds.

CYH traded up $0.01 during midday trading on Thursday, reaching $2.01. 9,369 shares of the company’s stock were exchanged, compared to its average volume of 2,295,920. The stock has a market capitalization of $236.82 million, a PE ratio of -1.03 and a beta of 2.43. The business’s 50-day moving average price is $2.26 and its 200 day moving average price is $3.25. Community Health Systems has a 1-year low of $1.81 and a 1-year high of $5.35.

Community Health Systems (NYSE:CYH) last announced its earnings results on Monday, August 5th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.05. The business had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.20 billion. The business’s revenue was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) EPS. Equities analysts predict that Community Health Systems will post -1.8 earnings per share for the current fiscal year.

A number of equities analysts have issued reports on the stock. 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. Piper Jaffray Companies set a $3.00 target price on shares of Community Health Systems and gave the stock a “sell” rating in a research report on Wednesday, August 7th. ValuEngine upgraded shares of Community Health Systems from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research cut shares of Community Health Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $3.68.

In other Community Health Systems news, EVP Benjamin C. Fordham bought 25,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was bought at an average price of $2.29 per share, for a total transaction of $57,250.00. Following the completion of the transaction, the executive vice president now owns 159,416 shares in the company, valued at approximately $365,062.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.50% of the company’s stock.

Community Health Systems Company 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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