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Community Health Systems Inc (CYH): Camber Capital Management Boosts Its Stake

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According to a new 13G Form with the US Securities and Exchange Commission, Stephen DuBois‘s Camber Capital Management decided to increase its stake in Community Health Systems Inc (NYSE:CYH). The stake was raised to 6.25 million, which amass 5.50% of the float, from 3.45 million shares previously reported in the fund’s 13F filing for the end of the second quarter.

Community Health Systems is a company that provides a variety of professional healthcare services through the acute care facilities that it runs. Since the company is struggling to pay its large debt, recently it has announced that it will add five more of its hospitals to the dozen already for sale in order to raise the much-needed money. Over the past 12 months, the company’s stock has lost 80.91%. For the third quarter of 2016, Community Health Systems reported a loss per share of $0.35, missing the analyst estimates of earnings per share of $0.29, and revenue of $4.38 billion, topping the estimates of $4.3 billion. Recently Susquehanna has reiterated its ‘Positive’ rating on Community Health Systems’ stock, but lowered its price target to $10 from $18, while Jefferies Group reiterated its ‘Hold’ rating and also lowered its price target, but to $9 from $11.75, and Credit Suisse Group AG reiterated its ‘Neutral’ rating on it, with a price target of $7.

Hospital Corporation hospital stocks CYH HCA THC UHS patient, corridor, doctor, bed, care, clinic

Spotmatik Ltd / shutterstock.com

Out of the 749 funds that we track, which have filed their 13Fs for the June quarter, 33 were bullish on Community Health Systems (NYSE:CYH), down by nine from the previous quarter. Some of the biggest investors in the company included David Tepper’s Appaloosa Management LP (6.27 million shares), Conan Laughlin’s North Tide Capital (4 million shares), David Einhorn’s Greenlight Capital (2.42 million shares), and Ken Griffin’s Citadel Investment Group (684,837 shares).

Among the investors who lost interest for investing further in Community Health Systems (NYSE:CYH) and cut off their positions during the June quarter were Sam Isaly’s Orbimed Advisors (sold 2.17 million shares), Jim Simons’ Renaissance Technologies (sold 1.03 million shares), and Benjamin A. Smith’s Laurion Capital Management (sold 102,700 shares).

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You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Camber Capital Management 0 6,250,000 0 6,250,000 Camber Capital Management LLC 5.50%
Stephen DuBois Not applicable 0 6,250,000 0 6,250,000 Stephen DuBois 5.50%

Stephen Dubois
Stephen Dubois
Camber Capital Management

Page 1 of 6 – SEC Filing

 
UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
 
SCHEDULE 13G
 
Under the Securities Exchange Act of
1934
 
 
Community Health Systems,
Inc.
(Name of
Issuer)
 
Common Stock, par value $0.01 per
share
(Title of Class of
Securities)
 
203668108
(CUSIP
Number)
 
 
October 28, 2016
(Date of Event
Which Requires Filing of this Statement)
 
 
Check the
appropriate box to designate the rule pursuant to which this
Schedule is filed:
☐ Rule
13d-1(b)

 Rule
13d-1(c)
☐ Rule
13d-1(d)
 
*The remainder of
this cover page shall be filled out for a reporting person’s
initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information
which would alter the disclosures provided in a prior cover
page.
 
The information
required in the remainder of this cover page shall not be deemed to
be “filed” for the purpose of Section 18 of the
Securities Exchange Act of 1934 (“Act”) or otherwise
subject to the liabilities of that section of the Act but shall be
subject to all other provisions of the Act (however, see the
Notes).
 
Persons who respond to the collection of
information contained in this form are not
required to respond unless the form displays a currently valid OMB
control number.
 

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