Castleknight Management LP has recently announced that it has increased stake in Community Health Systems, Inc. (NYSE:CYH) by 89.97%. After grabbing 9.74 million shares, the institutional investor is now in possession of 4.61 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 7.12% having worth around $30.49 million. Moreover, Invesco Capital Management LLC increased its share by 0.88 million to have a control over 6.24 million shares. And Charles Schwab Investment Managem raised its holdings to 0.48 million shares by acquiring 4.88 million shares or 3.57% of the stake.
Community Health Systems, Inc. (CYH) concluded trading on Thursday at a closing price of $3.92, with 2.93 million shares of worth about $11.47 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -12.69% during that period and on Thursday, January 25 the price saw a gain of about 6.81%. Currently the company’s common shares owned by public are about 134.70M shares, out of which, 125.83M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 47 times over the past 12 months. They bought 2,200,568 shares in 35 of the transactions. In 12 selling transactions, insiders dumped 422,549 shares.
Vanguard Total Stock Market ETF, Schwab Fundamental US Small Compa, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Community Health Systems, Inc. Vanguard Total Stock Market ETF is currently holding 3.98 million shares of worth totaling $12.47 million. The company recently came buying 0.0 shares which brought its stake up to 2.91% of the company’s outstanding shares. Schwab Fundamental US Small Compa sold 1307.0 shares, after which its hold over company’s outstanding shares shrunk to 2.67%, leaving 3.66 million shares with the mutual fund that have a worth of about $11.44 million. iShares Russell 2000 ETF, after selling 3.4 million shares, have now control over 2.49% of the stake in the company. It holds 9000.0 shares of worth $10.64 million.
However, the stock later moved at a day high price of 3.9300, or with a gain of 6.81%. Stock saw a price change of 12.32% in past 5 days and over the past one month there was a price change of 19.15%. Year-to-date (YTD), CYH shares are showing a performance of 25.24% which decreased to -11.71% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $2.01 but also hit the highest price of $8.01 during that period. The average intraday trading volume for Community Health Systems, Inc. shares is 2.61 million. The stock is currently trading 13.18% above its 20-day simple moving average (SMA20), while that difference is up 29.00% for SMA50 and it goes to 11.34% higher than SMA200.
Castleknight Management LP acquired 9.74 million shares of Community Health Systems, Inc. having value of about $30.49 million. Data submitted at the U.S SEC by Castleknight Management LP revealed that the firm now holds 4.61 million shares in the company valued at close to $18083587.2, or have control over 89.97% stake in the company. Community Health Systems, Inc. (NYSE: CYH) currently have 134.70M outstanding shares and institutions hold larger chunk of about 80.63% of that. Holding of mutual funds in the company is about 51.77% while other institutional holders and individual stake holders have control over 54.64% and 26.27% of the stake respectively.
The stock has a current market capitalization of $536.26M and its 3Y-monthly beta is at 1.60. PE ratio of stock for trailing 12 months is 2.17, while it has posted earnings per share of $1.80 in the same period. It has Quick Ratio of 1.36. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CYH, volatility over the week remained 6.24% while standing at 6.06% over the month.
Analysts are in expectations that Community Health Systems, Inc. (CYH) stock would likely to be making an EPS of $0.06 in the current quarter, while forecast for next quarter EPS is -$0.09 and it is $0.07 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.01 which is $0.12 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.5 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 38.17% while it is estimated to increase by 112.36% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Loop Capital on June 17, 2022 offering a Hold rating for the stock and assigned a target price of $5 to it.
