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

BrightSpring Health Services, Inc. (NASDAQ:BTSGU) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totaling 5,195 shares, a growth of 109.0% from the March 31st total of 2,486 shares. Based on an average daily volume of 8,777 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BTSGU. Wolverine Asset Management LLC increased its stake in BrightSpring Health Services by 27.4% in the third quarter. Wolverine Asset Management LLC now owns 554,985 shares of the company’s stock valued at $56,199,000 after acquiring an additional 119,322 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in BrightSpring Health Services in the first quarter valued at approximately $3,575,000. JPMorgan Chase & Co. increased its stake in BrightSpring Health Services by 69.4% in the second quarter. JPMorgan Chase & Co. now owns 43,931 shares of the company’s stock valued at $3,627,000 after acquiring an additional 17,994 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in BrightSpring Health Services by 11.0% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 164,260 shares of the company’s stock valued at $13,560,000 after acquiring an additional 16,302 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in BrightSpring Health Services in the second quarter valued at approximately $870,000.

BrightSpring Health Services Stock Performance

NASDAQ:BTSGU traded up $2.79 during mid-day trading on Friday, reaching $159.42. The stock had a trading volume of 7,011 shares, compared to its average volume of 19,556. The stock has a 50-day simple moving average of $142.98 and a two-hundred day simple moving average of $128.57. BrightSpring Health Services has a 12 month low of $60.69 and a 12 month high of $159.80.

BrightSpring Health Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Wednesday, April 15th will be paid a $0.8438 dividend. This represents a $3.38 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, April 15th.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed 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 data from MarketBeat, the company presently has a consensus rating of “Hold”.

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.