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

BrightSpring Health Services, Inc. (NASDAQ:BTSGU) saw a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 2,898 shares, a decline of 80.7% from the May 14th total of 14,997 shares. Based on an average trading volume of 22,869 shares, the short-interest ratio is presently 0.1 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of BrightSpring Health Services in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

BrightSpring Health Services Stock Up 5.0%

Shares of NASDAQ BTSGU opened at $203.01 on Wednesday. BrightSpring Health Services has a 1-year low of $68.14 and a 1-year high of $205.87. The company has a fifty day moving average price of $172.36 and a 200 day moving average price of $145.26.

BrightSpring Health Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Wednesday, April 15th were paid a $0.8438 dividend. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $3.38 dividend on an annualized basis and a yield of 1.7%.

Hedge Funds Weigh In On BrightSpring Health Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BTSGU. Virtus Advisers LLC acquired a new position in shares of BrightSpring Health Services during the 4th quarter worth about $25,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of BrightSpring Health Services during the 1st quarter worth about $213,000. Jane Street Group LLC boosted its stake in shares of BrightSpring Health Services by 88.4% during the 4th quarter. Jane Street Group LLC now owns 4,946 shares of the company’s stock worth $624,000 after buying an additional 2,321 shares during the last quarter. Morningstar Investment Management LLC acquired a new position in shares of BrightSpring Health Services during the 3rd quarter worth about $829,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of BrightSpring Health Services during the 1st quarter worth about $3,575,000.

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.