BrightSpring Health Services, Inc. (NASDAQ:BTSGU) Sees Significant Growth in Short Interest

BrightSpring Health Services, Inc. (NASDAQ:BTSGU) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totaling 101,011 shares, an increase of 366.1% from the August 15th total of 21,671 shares. Based on an average trading volume of 3,434 shares, the days-to-cover ratio is currently 29.4 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of BrightSpring Health Services in a research report on Wednesday, June 24th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On BrightSpring Health Services

Several large investors have recently made changes to their positions in BTSGU. Virtus Advisers LLC acquired a new stake in BrightSpring Health Services in the fourth quarter valued at approximately $25,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in BrightSpring Health Services during the first quarter worth $213,000. Jane Street Group LLC grew its position in shares of BrightSpring Health Services by 88.4% in the fourth quarter. Jane Street Group LLC now owns 4,946 shares of the company’s stock valued at $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 third quarter valued at approximately $829,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of BrightSpring Health Services by 69.4% during the second quarter. JPMorgan Chase & Co. now owns 43,931 shares of the company’s stock worth $3,627,000 after buying an additional 17,994 shares in the last quarter.

BrightSpring Health Services Stock Up 0.5%

BrightSpring Health Services stock traded up $0.87 during trading hours on Friday, hitting $194.08. 2,349 shares of the stock traded hands, compared to its average volume of 27,618. The firm’s 50 day moving average price is $211.86 and its 200-day moving average price is $186.30. BrightSpring Health Services has a 1 year low of $91.18 and a 1 year high of $255.51.

BrightSpring Health Services Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, August 1st. Shareholders of record on Wednesday, July 15th were given a $0.8437 dividend. This represents a $3.37 annualized dividend and a yield of 1.7%. The ex-dividend date was Wednesday, July 15th.

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.