Short Interest in BrightSpring Health Services, Inc. (NASDAQ:BTSGU) Expands By 366.1%

BrightSpring Health Services, Inc. (NASDAQ:BTSGU) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 101,011 shares, a growth of 366.1% from the August 15th total of 21,671 shares. Based on an average daily volume of 3,434 shares, the short-interest ratio is currently 29.4 days.

BrightSpring Health Services Trading Up 1.5%

NASDAQ:BTSGU traded up $2.96 during midday trading on Friday, reaching $196.17. 686 shares of the stock traded hands, compared to its average volume of 27,608. The company has a fifty day moving average of $212.54 and a 200 day moving average of $186.24. BrightSpring Health Services has a 12 month low of $91.18 and a 12 month high of $255.51.

BrightSpring Health Services Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, August 1st. Shareholders of record on Wednesday, July 15th were given a $0.8437 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $3.37 dividend on an annualized basis and a dividend yield of 1.7%.

Institutional Trading of BrightSpring Health Services

A number of institutional investors have recently modified their holdings of BTSGU. Goldman Sachs Group Inc. bought a new position in shares of BrightSpring Health Services in the 1st quarter worth approximately $3,575,000. Bank of America Corp DE purchased a new stake in BrightSpring Health Services in the first quarter worth $6,629,000. JPMorgan Chase & Co. grew 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 worth $3,627,000 after purchasing an additional 17,994 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 worth $13,560,000 after purchasing an additional 16,302 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in BrightSpring Health Services in the second quarter worth $870,000.

Wall Street Analyst Weigh In

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

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.