Rhumbline Advisers Has $1.96 Million Stake in Community Health Systems, Inc. (CYH)

Rhumbline Advisers lessened its holdings in shares of Community Health Systems, Inc. (NYSE:CYH) by 5.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 196,431 shares of the company’s stock after selling 11,016 shares during the period. Rhumbline Advisers owned approximately 0.18% of Community Health Systems worth $1,956,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Arizona State Retirement System lifted its holdings in shares of Community Health Systems by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 59,800 shares of the company’s stock valued at $596,000 after purchasing an additional 500 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Community Health Systems during the 2nd quarter valued at $349,000. Texas Permanent School Fund lifted its holdings in shares of Community Health Systems by 1.6% during the 2nd quarter. Texas Permanent School Fund now owns 83,736 shares of the company’s stock valued at $834,000 after purchasing an additional 1,308 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Community Health Systems by 5.2% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 26,880 shares of the company’s stock valued at $268,000 after purchasing an additional 1,340 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in shares of Community Health Systems by 0.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 46,700 shares of the company’s stock valued at $465,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 94.71% of the company’s stock.

Shares of Community Health Systems, Inc. (CYH) opened at 7.61 on Friday. The firm’s 50-day moving average price is $7.17 and its 200 day moving average price is $8.68. The firm’s market capitalization is $851.83 million. Community Health Systems, Inc. has a 12 month low of $4.15 and a 12 month high of $12.19.

Community Health Systems (NYSE:CYH) last announced its earnings results on Tuesday, August 1st. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.31). Community Health Systems had a negative net margin of 3.63% and a positive return on equity of 0.07%. The business had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same period in the previous year, the company posted $0.09 earnings per share. Community Health Systems’s quarterly revenue was down 9.7% on a year-over-year basis. Analysts anticipate that Community Health Systems, Inc. will post ($0.31) earnings per share for the current fiscal year.

CYH has been the subject of several analyst reports. Morgan Stanley initiated coverage on Community Health Systems in a report on Tuesday, June 6th. They set an “underweight” rating and a $9.50 price objective for the company. BidaskClub upgraded Community Health Systems from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Zacks Investment Research upgraded Community Health Systems from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Tuesday, July 11th. Piper Jaffray Companies reiterated a “sell” rating and set a $9.00 price objective on shares of Community Health Systems in a report on Wednesday, July 26th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $7.00 price objective on shares of Community Health Systems in a report on Sunday, July 30th. Six investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $7.84.

In other Community Health Systems news, major shareholder Tian Qiao Chen bought 9,766,897 shares of Community Health Systems stock in a transaction dated Monday, August 14th. The stock was acquired at an average cost of $7.27 per share, with a total value of $71,005,341.19. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.70% of the stock is currently owned by corporate insiders.

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Community Health Systems Profile

Community Health Systems, Inc is an operator of general acute care hospitals and outpatient facilities in communities across the country. The Company operates through hospital operations segment, which includes its general acute care hospitals and related healthcare entities that provide inpatient and outpatient healthcare services.

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Institutional Ownership by Quarter for Community Health Systems (NYSE:CYH)

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