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

BrightSpring Health Services, Inc. (NASDAQ:BTSGU) was the recipient of a significant growth in short interest in July. As of July 15th, there was short interest totaling 98,759 shares, a growth of 144.8% from the June 30th total of 40,349 shares. Based on an average daily trading volume, of 16,225 shares, the short-interest ratio is presently 6.1 days.

BrightSpring Health Services Stock Performance

Shares of BrightSpring Health Services stock opened at $237.19 on Tuesday. The business has a 50-day moving average of $216.34 and a two-hundred day moving average of $169.80. BrightSpring Health Services has a 1 year low of $68.14 and a 1 year high of $255.51.

BrightSpring Health Services Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, August 1st. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.8437 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $3.37 annualized dividend and a yield of 1.4%.

Institutional Trading of BrightSpring Health Services

A number of large investors have recently added to or reduced their stakes in BTSGU. Virtus Advisers LLC bought a new position in BrightSpring Health Services during the fourth quarter worth $25,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in shares of BrightSpring Health Services in the first quarter worth $213,000. Jane Street Group LLC increased its holdings in BrightSpring Health Services by 88.4% in the 4th quarter. Jane Street Group LLC now owns 4,946 shares of the company’s stock valued at $624,000 after buying an additional 2,321 shares during the period. Morningstar Investment Management LLC acquired a new position in BrightSpring Health Services during the third quarter valued at approximately $829,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of BrightSpring Health Services by 69.4% during the 2nd 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.

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 research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently 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.