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

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

BrightSpring Health Services Price Performance

Shares of NASDAQ BTSGU traded up $7.22 during midday trading on Thursday, reaching $208.59. 25,873 shares of the company traded hands, compared to its average volume of 30,356. The stock has a 50-day moving average price of $173.61 and a 200 day moving average price of $145.89. BrightSpring Health Services has a 52 week low of $68.14 and a 52 week high of $208.48.

BrightSpring Health Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were given a dividend of $0.8438 per share. This represents a $3.38 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Wednesday, April 15th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Virtus Advisers LLC acquired a new position in shares of BrightSpring Health Services during the fourth quarter valued at approximately $25,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in BrightSpring Health Services in the first quarter worth approximately $213,000. Jane Street Group LLC increased its position 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 valued at $624,000 after purchasing an additional 2,321 shares during the period. Morningstar Investment Management LLC bought a new stake in shares of BrightSpring Health Services in the 3rd quarter worth $829,000. Finally, JPMorgan Chase & Co. raised its stake in shares of BrightSpring Health Services by 69.4% in 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.

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, 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.