Saba Capital Management L.P. Buys 881,031 Shares of Community Health Systems, Inc. $CYH

Saba Capital Management L.P. grew its position in Community Health Systems, Inc. (NYSE:CYH) by 219.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,281,839 shares of the company’s stock after acquiring an additional 881,031 shares during the period. Saba Capital Management L.P.’s holdings in Community Health Systems were worth $3,769,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CYH. Assenagon Asset Management S.A. raised its position in Community Health Systems by 53.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,110,655 shares of the company’s stock valued at $3,465,000 after buying an additional 388,116 shares during the last quarter. Aberdeen Group plc raised its position in Community Health Systems by 23.9% during the fourth quarter. Aberdeen Group plc now owns 1,772,139 shares of the company’s stock worth $5,529,000 after acquiring an additional 342,359 shares in the last quarter. Carronade Capital Management LP lifted its stake in Community Health Systems by 306.7% in the first quarter. Carronade Capital Management LP now owns 1,321,923 shares of the company’s stock valued at $3,886,000 after acquiring an additional 996,923 shares during the last quarter. Whitebox Advisors LLC grew its position in shares of Community Health Systems by 42.1% in the 1st quarter. Whitebox Advisors LLC now owns 3,127,884 shares of the company’s stock valued at $9,196,000 after acquiring an additional 926,364 shares during the period. Finally, Eversept Partners LP grew its holdings in Community Health Systems by 14.3% during the fourth quarter. Eversept Partners LP now owns 7,943,802 shares of the company’s stock worth $24,785,000 after purchasing an additional 993,751 shares during the period. 84.99% of the stock is currently owned by institutional investors and hedge funds.

Community Health Systems Stock Performance

Community Health Systems stock opened at $2.71 on Tuesday. The firm has a market cap of $382.59 million, a price-to-earnings ratio of 1.47 and a beta of 1.81. The firm has a 50 day moving average price of $3.11 and a two-hundred day moving average price of $3.13. Community Health Systems, Inc. has a 52-week low of $2.38 and a 52-week high of $4.43.

Community Health Systems (NYSE:CYH) last released its earnings results on Wednesday, July 22nd. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.09). The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.89 billion. Community Health Systems had a negative return on equity of 6.66% and a net margin of 2.10%.The company’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.05) EPS. Community Health Systems has set its FY 2026 guidance at -1.250–1.100 EPS. As a group, equities research analysts predict that Community Health Systems, Inc. will post -0.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Truist Financial reduced their price objective on shares of Community Health Systems from $3.75 to $3.25 and set a “hold” rating for the company in a research report on Monday. Zacks Research lowered Community Health Systems from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Wall Street Zen cut shares of Community Health Systems from a “hold” rating to a “sell” rating in a research report on Saturday. Royal Bank Of Canada dropped their price objective on Community Health Systems from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Monday. Finally, UBS Group dropped their price objective on shares of Community Health Systems from $3.20 to $3.00 and set a “neutral” rating for the company in a research note on Friday. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Community Health Systems has a consensus rating of “Reduce” and a consensus price target of $2.95.

Community Health Systems Company Profile

Community Health Systems, Inc (NYSE: CYH) is one of the largest publicly traded hospital operators in the United States. Headquartered in Franklin, Tennessee, the company owns, leases and manages general acute care hospitals and outpatient facilities, primarily in non-urban and mid-market communities. CHS is focused on delivering locally accessible healthcare services through its network of affiliated hospitals, clinics and post-acute providers.

The company’s core offerings include inpatient medical and surgical care, emergency services, critical care, diagnostic imaging and laboratory testing.