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

BrightSpring Health Services, Inc. (NASDAQ:BTSGU) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 35,928 shares, an increase of 1,139.8% from the May 31st total of 2,898 shares. Based on an average daily volume of 41,788 shares, the short-interest ratio is presently 0.9 days.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of BrightSpring Health Services in a research report on Wednesday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

BrightSpring Health Services Trading Down 0.9%

Shares of BTSGU traded down $2.17 on Friday, reaching $227.96. 3,710 shares of the company’s stock were exchanged, compared to its average volume of 27,952. The business has a 50 day moving average price of $190.31 and a two-hundred day moving average price of $153.94. BrightSpring Health Services has a 12 month low of $68.14 and a 12 month 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. Stockholders of record on Wednesday, July 15th will be paid a dividend of $0.8437 per share. This represents a $3.37 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, July 15th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. 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 approximately $213,000. Jane Street Group LLC raised 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 purchasing an additional 2,321 shares in the last quarter. Morningstar Investment Management LLC acquired a new stake in shares of BrightSpring Health Services in the 3rd quarter valued at approximately $829,000. Finally, JPMorgan Chase & Co. boosted its holdings 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 valued at $3,627,000 after buying an additional 17,994 shares during the last quarter.

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.