The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Community Health Systems Inc. shares valued at $2,352,000 were purchased by SMITH WAYNE T on Aug 02. At $2.94 per share, SMITH WAYNE T acquired 800,000 shares. The insider’s holdings grew to 4,059,196 shares worth approximately $11.04 million following the completion of this transaction.
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Also, SMITH WAYNE T purchased 200,000 shares, netting a total of over 600,000 in proceeds. Following the buying of shares at $3.00 each, the insider now holds 3,259,196 shares.
Before that, Ely James S. III had added 10,000 shares to its account. In a trade valued at $50,000, the Director bought Community Health Systems Inc. shares for $5.00 each. Upon closing the transaction, the insider’s holdings increased to 10,000 shares, worth approximately $0.82 million.
As published in their initiating research note from Loop Capital on June 17, 2022, Community Health Systems Inc. [CYH] has been a Hold and the price target has been revised to $5. This represents a 45.6% premium over Wednesday’s closing price. Analysts at BofA Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid June. As of March 29, 2022, Wells Fargo has initiated its “an Equal weight” rating for CYH.
Analyzing CYH’s Price Performance
On Wednesday, Community Health Systems Inc. [NYSE: CYH] plunged -3.20% to $2.72. The stock’s lowest price that day was $2.70, but it reached a high of $2.86 in the same session. During the last five days, there has been a drop of approximately -6.21%. Over the course of the year, Community Health Systems Inc. shares have dropped approximately -79.56%. Shares of the company reached a 52-week high of $14.74 on 01/19/22 and a 52-week low of $2.56 on 09/01/22. A 50-day SMA is recorded $3.37, while a 200-day SMA reached $8.16. Nevertheless, trading volume fell to 1.48 million shares from 1.19 million shares the previous day.
Support And Resistance Levels for Community Health Systems Inc. (CYH)
According to the 24-hour chart, there is a support level at 2.66, which, if violated, would cause prices to drop to 2.60. In the upper region, resistance lies at 2.82. The next price resistance is at 2.92. RSI (Relative Strength Index) is 38.56 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.09, which suggests the price will decrease in the coming days. Percent R is at 79.49%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Community Health Systems Inc. subject to short interest?
Stocks of Community Health Systems Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 4.39 million shares to 13.31 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 8.92 million shares. A jump of 32.98% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.53 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.53.
Which companies own the most shares of Community Health Systems Inc. (CYH)?
According to BlackRock Fund Advisors filings, the company currently owns 18,498,393 shares, which is about 13.73% of the total CYH shares outstanding. The investor’s shares have appreciated by 532,976 from its previous 13-F filing of 17965417.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $24,716,409. Eversept Partners LP acquire a 9.64% interest valued at $23.51 million while Franklin Advisers, Inc. sold a -2,000,000 stake. A total of 878,383 shares of Community Health Systems Inc. were sold by D. E. Shaw & Co. LP during the quarter, and 318,194 were bought by SSgA Funds Management, Inc. In its current portfolio, Invesco Capital Management LLC holds 4,389,672 shares valued at $11.68 million.
In terms of Community Health Systems Inc. share price expectations, FactSet research, analysts set an average price target of $5.52 in the next 12 months, up nearly 42.35% from the previous closing price of $2.81. Analysts anticipate Community Health Systems Inc. stock to reach $13.75 by 2022, with the lowest price target being $3.00. In spite of this, 12 analysts ranked Community Health Systems Inc. stock as an Overweight at the end of 2022. On December 13, 2021, BofA Securities assigned a price target of “a Buy” to the stock and upgraded coverage with a $16.