Short Interest in BrightSpring Health Services, Inc. (NASDAQ:BTSGU) Expands By 144.8%

BrightSpring Health Services, Inc. (NASDAQ:BTSGU) was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 98,759 shares, an increase of 144.8% from the June 30th total of 40,349 shares. Based on an average trading volume of 16,225 shares, the short-interest ratio is presently 6.1 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c)” rating on shares of BrightSpring Health Services in a report on Wednesday, June 24th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, BrightSpring Health Services currently has an average rating of “Hold”.

BrightSpring Health Services Trading Down 4.2%

BTSGU stock opened at $228.37 on Thursday. BrightSpring Health Services has a 1 year low of $68.14 and a 1 year high of $255.51. The stock has a 50-day simple moving average of $218.03 and a 200-day simple moving average of $171.23.

BrightSpring Health Services Cuts Dividend

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

Institutional Trading of BrightSpring Health Services

Hedge funds have recently made changes to their positions in the company. Virtus Advisers LLC acquired a new position in shares of BrightSpring Health Services during the fourth quarter worth $25,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in BrightSpring Health Services during the 1st quarter valued at $213,000. Jane Street Group LLC increased its stake in 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 buying an additional 2,321 shares during the period. Morningstar Investment Management LLC purchased a new stake in BrightSpring Health Services during the 3rd quarter worth $829,000. Finally, Goldman Sachs Group Inc. acquired a new position in BrightSpring Health Services in the 1st quarter worth $3,575,000.

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.