Hedge Funds Are Crazy About Community Health Systems (CYH)

Now, key money managers were breaking ground themselves. Point72 Asset Management, run by Steve Cohen, established the most outsized position in Community Health Systems (NYSE:CYH). The fund had $15 million invested in the company at the end of the quarter. Daniel S. Och’s OZ Management also initiated a $13.8 million position during the quarter. The other funds with brand new CYH positions are Zach Schreiber’s Point State Capital, Joshua Friedman and Mitchell Julis’s Canyon Capital Advisors, and Michael A. Price and Amos Meron’s Empyrean Capital Partners.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Community Health Systems (NYSE:CYH) but similarly valued. These stocks are La Quinta Holdings Inc (NYSE:LQ), 2U Inc (NASDAQ:TWOU), Fidelity & Guaranty Life (NYSE:FGL), and Amkor Technology, Inc. (NASDAQ:AMKR). This group of stocks’ market values are similar to CYH’s market value.

As you can see these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $136 million. That figure was $276 million in CYH’s case. Amkor Technology, Inc. (NASDAQ:AMKR) is the most popular stock in this table. On the other hand Fidelity & Guaranty Life (NYSE:FGL) is the least popular one with only 12 bullish hedge fund positions. Compared to these stocks Community Health Systems (NYSE:CYH) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.