Michael Portacci, Division President at Community Health Systems (NYSE:CYH), disposed of 15,333 shares of Common Stock yesterday. The stock was sold directly and at a weighted average price of $48.75 per share. Furthermore, the insider exercised his use of stock options in order to complete the transaction and following the sale he now owns 38,083 company shares. This is Portacci’s second stock disposition of the fiscal year so far, having unloaded 4,840 shares of Common Stock for $41.00 per share in May.
Insiders have been very actively trading at Community Health this quarter, with several large sales recorded over the past few months. In June, the firm’s Division President, William Hussey, unloaded 100,000 shares of Common Stock, receiving $45.03 for each share. And ten days prior to the sale Dewayne Martin Smith, also Division President at the $5.5 billion market cap healthcare service provider and hospital operator, had disposed of 25,000 shares for a price of $42.01 per share.