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

BrightSpring Health Services, Inc. (NASDAQ:BTSGU) was the target of a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 2,898 shares, a decline of 80.7% from the May 14th total of 14,997 shares. Based on an average daily volume of 22,869 shares, the short-interest ratio is currently 0.1 days.

Analyst Ratings Changes

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

Hedge Funds Weigh In On BrightSpring Health Services

Institutional investors and hedge funds have recently bought and sold shares of the company. Virtus Advisers LLC bought a new position in BrightSpring Health Services during the fourth quarter valued at $25,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in BrightSpring Health Services during the first quarter valued at $213,000. Jane Street Group LLC grew its holdings in 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 during the period. Morningstar Investment Management LLC bought a new position in BrightSpring Health Services during the third quarter valued at $829,000. Finally, JPMorgan Chase & Co. grew its holdings in BrightSpring Health Services by 69.4% during the second quarter. JPMorgan Chase & Co. now owns 43,931 shares of the company’s stock valued at $3,627,000 after purchasing an additional 17,994 shares during the period.

BrightSpring Health Services Stock Up 0.5%

BTSGU stock traded up $1.01 during midday trading on Friday, hitting $209.49. The company’s stock had a trading volume of 1,621 shares, compared to its average volume of 30,089. The stock’s 50-day moving average price is $174.93 and its 200 day moving average price is $146.54. BrightSpring Health Services has a 1 year low of $68.14 and a 1 year high of $208.48.

BrightSpring Health Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were issued a dividend of $0.8438 per share. This represents a $3.38 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Wednesday, April 15th.

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.