Short Interest in BrightSpring Health Services, Inc. (NASDAQ:BTSGU) Expands By 366.1%

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

Institutional Investors Weigh In On BrightSpring Health Services

Hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE bought a new position in shares of BrightSpring Health Services during the 1st quarter valued at about $6,629,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in BrightSpring Health Services during the first quarter valued at approximately $213,000. Virtus Advisers LLC bought a new position in BrightSpring Health Services during the fourth quarter valued at approximately $25,000. Jane Street Group LLC raised its stake in shares of BrightSpring Health Services by 88.4% during the fourth quarter. Jane Street Group LLC now owns 4,946 shares of the company’s stock worth $624,000 after acquiring an additional 2,321 shares in the last quarter. Finally, Morningstar Investment Management LLC bought a new stake in shares of BrightSpring Health Services in the 3rd quarter worth approximately $829,000.

BrightSpring Health Services Price Performance

BTSGU stock traded up $2.96 during midday trading on Friday, reaching $196.17. The company had a trading volume of 686 shares, compared to its average volume of 27,608. The firm has a 50-day moving average price of $212.54 and a 200-day moving average price of $186.24. 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 company also recently announced a quarterly dividend, which was paid on Saturday, August 1st. Investors of record on Wednesday, July 15th were paid a $0.8437 dividend. This represents a $3.37 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Wednesday, July 15th.

Analysts Set New Price Targets

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

BrightSpring Health Services Company Profile

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.