BrightSpring Health Services, Inc. (NASDAQ:BTSGU) Sees Large Decrease in Short Interest

BrightSpring Health Services, Inc. (NASDAQ:BTSGU) was the recipient of a significant decrease in short interest in July. As of July 31st, there was short interest totaling 25,138 shares, a decrease of 74.5% from the July 15th total of 98,759 shares. Based on an average daily volume of 39,471 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtus Advisers LLC bought a new position in BrightSpring Health Services during the fourth quarter valued at approximately $25,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in BrightSpring Health Services in the 1st quarter worth about $213,000. Jane Street Group LLC lifted its position in shares of BrightSpring Health Services by 88.4% in the 4th quarter. Jane Street Group LLC now owns 4,946 shares of the company’s stock worth $624,000 after purchasing an additional 2,321 shares during the period. Morningstar Investment Management LLC purchased a new position in shares of BrightSpring Health Services in the 3rd quarter valued at $829,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of BrightSpring Health Services in the 1st quarter valued at $3,575,000.

BrightSpring Health Services Trading Up 1.0%

Shares of NASDAQ:BTSGU traded up $1.97 during mid-day trading on Thursday, reaching $200.03. 781 shares of the company traded hands, compared to its average volume of 28,339. The company’s 50 day moving average price is $219.61 and its 200-day moving average price is $176.49. BrightSpring Health Services has a 52 week low of $78.68 and a 52 week high of $255.51.

BrightSpring Health Services Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, August 1st. Shareholders of record on Wednesday, July 15th were issued a dividend of $0.8437 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $3.37 dividend on an annualized basis and a yield of 1.7%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of BrightSpring Health Services in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, BrightSpring Health Services has an average rating of “Hold”.

About BrightSpring Health Services

BrightSpring Health Services is a leading provider of home and community-based health and support services in the United States. The company specializes in delivering a continuum of care that spans behavioral health, intellectual and developmental disability support, home health care, and respite services. By integrating clinical and non-clinical offerings, BrightSpring seeks to improve patient outcomes, enhance quality of life, and support family caregivers.

Through its behavioral health division, BrightSpring offers individualized therapy, counseling, and crisis intervention for children, adolescents, and adults experiencing mental health challenges.