Short Interest in BrightSpring Health Services, Inc. (NASDAQ:BTSGU) Declines By 74.5%

BrightSpring Health Services, Inc. (NASDAQ:BTSGU) saw a large decline in short interest in July. As of July 31st, there was short interest totaling 25,138 shares, a decline of 74.5% from the July 15th total of 98,759 shares. Based on an average daily trading volume, of 39,471 shares, the short-interest ratio is currently 0.6 days.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Bank of America Corp DE bought a new stake in BrightSpring Health Services during the 1st quarter worth $6,629,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in BrightSpring Health Services in the first quarter valued at about $213,000. Virtus Advisers LLC acquired a new stake in shares of BrightSpring Health Services during the fourth quarter valued at about $25,000. Jane Street Group LLC boosted 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 valued at $624,000 after purchasing an additional 2,321 shares in the last quarter. Finally, Morningstar Investment Management LLC bought a new stake in shares of BrightSpring Health Services during the third quarter worth about $829,000.

BrightSpring Health Services Trading Up 0.7%

Shares of BrightSpring Health Services stock traded up $1.33 during midday trading on Friday, hitting $202.40. 285 shares of the company traded hands, compared to its average volume of 28,154. The firm’s fifty day moving average price is $219.79 and its 200-day moving average price is $176.95. BrightSpring Health Services has a 12 month low of $78.68 and a 12 month high of $255.51.

BrightSpring Health Services Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, August 1st. Shareholders of record on Wednesday, July 15th were paid a dividend of $0.8437 per share. This represents a $3.37 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Wednesday, July 15th.

Analyst Ratings Changes

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