Short Interest in BrightSpring Health Services, Inc. (NASDAQ:BTSGU) Drops By 42.8%

BrightSpring Health Services, Inc. (NASDAQ:BTSGU) was the target of a large drop in short interest during the month of April. As of April 30th, there was short interest totaling 2,969 shares, a drop of 42.8% from the April 15th total of 5,195 shares. Based on an average daily volume of 58,646 shares, the days-to-cover ratio is currently 0.1 days.

BrightSpring Health Services Price Performance

BTSGU opened at $186.92 on Tuesday. BrightSpring Health Services has a fifty-two week low of $68.14 and a fifty-two week high of $194.57. The stock has a fifty day moving average of $154.25 and a 200-day moving average of $135.68.

BrightSpring Health Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th were issued a dividend of $0.8438 per share. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $3.38 dividend on an annualized basis and a dividend yield of 1.8%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On BrightSpring Health Services

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Virtus Advisers LLC acquired a new stake in shares of BrightSpring Health Services during the fourth quarter worth $25,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of BrightSpring Health Services during the first quarter worth $213,000. Jane Street Group LLC lifted its holdings 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 worth $624,000 after buying an additional 2,321 shares in the last quarter. SSI Investment Management LLC increased its position in shares of BrightSpring Health Services by 2.7% in the fourth quarter. SSI Investment Management LLC now owns 154,115 shares of the company’s stock worth $19,426,000 after purchasing an additional 3,980 shares during the period. Finally, Van ECK Associates Corp increased its position in shares of BrightSpring Health Services by 2.1% in the third quarter. Van ECK Associates Corp now owns 244,150 shares of the company’s stock worth $24,681,000 after purchasing an additional 4,999 shares during the period.

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.