Short Interest in BrightSpring Health Services, Inc. (NASDAQ:BTSGU) Drops By 61.3%

BrightSpring Health Services, Inc. (NASDAQ:BTSGU) was the recipient of a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 3,611 shares, a decline of 61.3% from the February 26th total of 9,326 shares. Based on an average daily trading volume, of 40,461 shares, the days-to-cover ratio is presently 0.1 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of BrightSpring Health Services in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

BrightSpring Health Services Stock Performance

Shares of BrightSpring Health Services stock opened at $142.04 on Friday. BrightSpring Health Services has a twelve month low of $56.77 and a twelve month high of $151.08. The business has a 50-day moving average price of $135.35 and a 200 day moving average price of $120.70.

BrightSpring Health Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, February 1st. Shareholders of record on Thursday, January 15th were issued a $0.8438 dividend. The ex-dividend date was Thursday, January 15th. This represents a $3.38 dividend on an annualized basis and a yield of 2.4%.

Hedge Funds Weigh In On BrightSpring Health Services

A number of institutional investors and hedge funds have recently bought and sold shares of BTSGU. Virtus Advisers LLC purchased a new position in BrightSpring Health Services during the fourth quarter worth approximately $25,000. Jane Street Group LLC grew its holdings in BrightSpring Health Services by 88.4% in the 4th quarter. Jane Street Group LLC now owns 4,946 shares of the company’s stock valued at $624,000 after buying an additional 2,321 shares in the last quarter. SSI Investment Management LLC grew its holdings in BrightSpring Health Services by 2.7% in the 4th quarter. SSI Investment Management LLC now owns 154,115 shares of the company’s stock valued at $19,426,000 after buying an additional 3,980 shares in the last quarter. Morningstar Investment Management LLC acquired a new stake in shares of BrightSpring Health Services in the 3rd quarter worth $829,000. Finally, Van ECK Associates Corp increased its stake in shares of BrightSpring Health Services by 2.1% in the 3rd quarter. Van ECK Associates Corp now owns 244,150 shares of the company’s stock worth $24,681,000 after acquiring an additional 4,999 shares during the last quarter.

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.