Community Health Systems Sees Unusually Large Options Volume (NYSE:CYH)

Community Health Systems, Inc. (NYSE:CYH) was the target of unusually large options trading on Wednesday. Stock traders bought 14,766 put options on the company. This represents an increase of 678% compared to the typical daily volume of 1,899 put options.

Community Health Systems Price Performance

CYH opened at $3.33 on Thursday. The business’s 50-day moving average price is $3.26 and its two-hundred day moving average price is $4.41. Community Health Systems has a 1 year low of $2.51 and a 1 year high of $6.29. The company has a market capitalization of $462.00 million, a price-to-earnings ratio of -1.10 and a beta of 1.59.

Analysts Set New Price Targets

CYH has been the topic of a number of recent research reports. Truist Financial decreased their price objective on Community Health Systems from $5.00 to $3.50 and set a “hold” rating on the stock in a research report on Monday, January 6th. Raymond James lowered Community Health Systems from a “market perform” rating to an “underperform” rating in a research report on Friday, November 22nd. StockNews.com downgraded Community Health Systems from a “hold” rating to a “sell” rating in a research note on Monday, November 25th. Wells Fargo & Company downgraded Community Health Systems from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $5.00 to $2.50 in a research note on Monday, November 25th. Finally, Barclays increased their price target on Community Health Systems from $3.00 to $5.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $4.52.

Institutional Trading of Community Health Systems

Hedge funds and other institutional investors have recently modified their holdings of the company. Signaturefd LLC bought a new position in Community Health Systems during the third quarter worth about $33,000. CWM LLC raised its position in shares of Community Health Systems by 32.1% in the third quarter. CWM LLC now owns 12,191 shares of the company’s stock valued at $74,000 after buying an additional 2,961 shares in the last quarter. Aigen Investment Management LP bought a new stake in shares of Community Health Systems in the third quarter worth $94,000. nVerses Capital LLC grew its stake in shares of Community Health Systems by 138.7% in the third quarter. nVerses Capital LLC now owns 17,900 shares of the company’s stock worth $109,000 after purchasing an additional 10,400 shares during the last quarter. Finally, Apollon Wealth Management LLC bought a new stake in shares of Community Health Systems in the fourth quarter worth $60,000. Institutional investors and hedge funds own 84.99% of the company’s stock.

About Community Health Systems

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.