BrightSpring Health Services, Inc. (NASDAQ:BTSGU) Short Interest Update

BrightSpring Health Services, Inc. (NASDAQ:BTSGU) was the recipient of a significant increase in short interest in 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 days-to-cover ratio is currently 6.1 days.

BrightSpring Health Services Stock Down 1.9%

Shares of BTSGU traded down $4.49 during mid-day trading on Wednesday, hitting $233.80. The company’s stock had a trading volume of 375 shares, compared to its average volume of 27,783. The stock’s 50-day moving average is $217.35 and its two-hundred day moving average is $170.55. BrightSpring Health Services has a one year low of $68.14 and a one year high of $255.51.

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. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $3.37 dividend on an annualized basis and a yield of 1.4%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. acquired a new position in BrightSpring Health Services in the 1st quarter valued at approximately $3,575,000. Bank of America Corp DE acquired a new position in BrightSpring Health Services in the first quarter worth $6,629,000. JPMorgan Chase & Co. grew its holdings in shares of BrightSpring Health Services by 69.4% during 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 valued at $13,560,000 after buying an additional 16,302 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of BrightSpring Health Services in the second quarter valued at $870,000.

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.