BrightSpring Health Services, Inc. (NASDAQ:BTSGU) Short Interest Down 74.5% in July

BrightSpring Health Services, Inc. (NASDAQ:BTSGU) saw a significant decrease in short interest in July. As of July 31st, there was short interest totaling 25,138 shares, a decrease of 74.5% from the July 15th total of 98,759 shares. Based on an average trading volume of 39,471 shares, the days-to-cover ratio is currently 0.6 days.

BrightSpring Health Services Trading Up 1.0%

Shares of NASDAQ BTSGU traded up $1.97 during mid-day trading on Thursday, hitting $200.03. 781 shares of the stock traded hands, compared to its average volume of 28,339. The stock has a fifty day moving average price of $219.61 and a 200-day moving average price of $176.49. BrightSpring Health Services has a 52 week low of $78.68 and a 52 week high of $255.51.

BrightSpring Health Services Cuts Dividend

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

Institutional Investors Weigh In On BrightSpring Health Services

A number of hedge funds and other institutional investors have recently bought and sold shares of BTSGU. Goldman Sachs Group Inc. bought a new stake in shares of BrightSpring Health Services in the 1st quarter worth approximately $3,575,000. JPMorgan Chase & Co. boosted its holdings 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 acquiring an additional 17,994 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of 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 acquiring an additional 16,302 shares during the last quarter. Jane Street Group LLC bought a new position in shares of BrightSpring Health Services during the second quarter valued at $870,000. Finally, Morningstar Investment Management LLC bought a new position in shares of BrightSpring Health Services during the third quarter valued at $829,000.

Analyst Upgrades and Downgrades

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