Pentwater Capital Management LP Sells 110,000 Shares of Community Health Systems (CYH)
Pentwater Capital Management LP lowered its stake in Community Health Systems (NYSE:CYH) by 45.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 130,000 shares of the company’s stock after selling 110,000 shares during the period. Pentwater Capital Management LP’s holdings in Community Health Systems were worth $554,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the stock. California Public Employees Retirement System grew its stake in shares of Community Health Systems by 10.6% in the 4th quarter. California Public Employees Retirement System now owns 1,820,003 shares of the company’s stock worth $7,753,000 after buying an additional 174,674 shares during the last quarter. Teacher Retirement System of Texas bought a new position in Community Health Systems in the 4th quarter valued at approximately $162,000. Arlington Partners LLC bought a new position in Community Health Systems in the 4th quarter valued at approximately $170,000. SG Americas Securities LLC lifted its position in Community Health Systems by 73.4% in the 4th quarter. SG Americas Securities LLC now owns 331,826 shares of the company’s stock valued at $1,414,000 after acquiring an additional 140,442 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in Community Health Systems in the 4th quarter valued at approximately $157,000. Institutional investors own 94.72% of the company’s stock.
In related news, major shareholder Tian Qiao Chen bought 100,164 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were bought at an average cost of $3.96 per share, with a total value of $396,649.44. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders purchased 1,980,484 shares of company stock worth $7,878,489. 4.70% of the stock is owned by insiders.
Several research firms recently issued reports on CYH. Credit Suisse Group began coverage on Community Health Systems in a research report on Thursday, November 2nd. They issued an “underperform” rating and a $3.50 price objective on the stock. ValuEngine raised Community Health Systems from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. Wells Fargo & Co began coverage on Community Health Systems in a research report on Tuesday, January 30th. They issued an “underperform” rating and a $4.50 price objective on the stock. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $6.00 price objective on shares of Community Health Systems in a research report on Thursday, February 1st. Finally, SunTrust Banks set a $7.00 price target on Community Health Systems and gave the company a “hold” rating in a report on Sunday, October 15th. Eight investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $6.10.
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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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