Short Interest in BrightSpring Health Services, Inc. (NASDAQ:BTSGU) Grows By 1,139.8%

BrightSpring Health Services, Inc. (NASDAQ:BTSGU) was the recipient of a large increase in short interest in 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 trading volume of 41,788 shares, the short-interest ratio is currently 0.9 days.

Analysts Set New Price Targets

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

BrightSpring Health Services Price Performance

Shares of BrightSpring Health Services stock traded up $7.15 during mid-day trading on Thursday, hitting $230.13. 5,094 shares of the stock were exchanged, compared to its average volume of 28,166. BrightSpring Health Services has a 12 month low of $68.14 and a 12 month high of $255.51. The company has a 50-day simple moving average of $188.80 and a 200 day simple moving average of $153.42.

BrightSpring Health Services Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, August 1st. Shareholders of record on Wednesday, July 15th will be issued a dividend of $0.8437 per share. This represents a $3.37 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, July 15th.

Hedge Funds Weigh In On BrightSpring Health Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE purchased a new position in shares of BrightSpring Health Services during the 1st quarter valued at $6,629,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of BrightSpring Health Services during the first quarter worth about $213,000. Virtus Advisers LLC purchased a new stake in BrightSpring Health Services in the fourth quarter valued at approximately $25,000. Jane Street Group LLC grew its stake 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 worth $624,000 after buying an additional 2,321 shares in the last quarter. Finally, Morningstar Investment Management LLC bought a new position in shares of BrightSpring Health Services in the 3rd quarter worth $829,000.

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.