Renaissance Technologies LLC Purchases 1,280,300 Shares of Community Health Systems, Inc. (NYSE:CYH)

Renaissance Technologies LLC increased its position in shares of Community Health Systems, Inc. (NYSE:CYH) by 913.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,420,393 shares of the company’s stock after buying an additional 1,280,300 shares during the period. Renaissance Technologies LLC’s holdings in Community Health Systems were worth $4,247,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CYH. Cibc World Markets Corp bought a new stake in Community Health Systems during the 4th quarter valued at $35,000. Virtu Financial LLC purchased a new stake in shares of Community Health Systems during the fourth quarter valued at about $38,000. Apollon Wealth Management LLC bought a new position in shares of Community Health Systems during the 4th quarter worth approximately $60,000. KLP Kapitalforvaltning AS acquired a new position in shares of Community Health Systems during the fourth quarter worth $62,000. Finally, AXQ Capital LP purchased a new position in Community Health Systems during the 4th quarter worth $63,000. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Community Health Systems Stock Down 0.4 %

CYH stock opened at $2.40 on Tuesday. The stock has a market capitalization of $336.73 million, a P/E ratio of -0.62 and a beta of 1.72. Community Health Systems, Inc. has a 52 week low of $2.24 and a 52 week high of $6.29. The firm has a 50-day simple moving average of $2.85 and a 200-day simple moving average of $3.46.

Community Health Systems (NYSE:CYH) last announced its earnings results on Tuesday, February 18th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.51). The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.14 billion. On average, analysts expect that Community Health Systems, Inc. will post -0.29 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on CYH shares. Guggenheim assumed coverage on shares of Community Health Systems in a research report on Wednesday, April 9th. They issued a “neutral” rating for the company. StockNews.com upgraded Community Health Systems from a “sell” rating to a “hold” rating in a research note on Thursday, February 20th. UBS Group cut their price target on shares of Community Health Systems from $4.80 to $4.10 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Truist Financial decreased their target price on shares of Community Health Systems from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Friday, April 11th. Finally, Barclays reduced their price target on Community Health Systems from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $4.02.

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.