8 Knots Management LLC Sells 1,136,058 Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG)

8 Knots Management LLC lowered its position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 19.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,642,129 shares of the company's stock after selling 1,136,058 shares during the period. BrightSpring Health Services comprises about 7.9% of 8 Knots Management LLC's holdings, making the stock its 5th largest holding. 8 Knots Management LLC owned approximately 2.67% of BrightSpring Health Services worth $79,055,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Barclays PLC boosted its holdings in shares of BrightSpring Health Services by 22.2% in the third quarter. Barclays PLC now owns 393,725 shares of the company's stock worth $5,780,000 after buying an additional 71,633 shares during the last quarter. Virtu Financial LLC purchased a new stake in BrightSpring Health Services during the third quarter valued at $522,000. JPMorgan Chase & Co. lifted its stake in shares of BrightSpring Health Services by 275.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 163,618 shares of the company's stock valued at $2,402,000 after purchasing an additional 120,005 shares during the last quarter. SG Americas Securities LLC boosted its stake in BrightSpring Health Services by 50.9% during the fourth quarter. SG Americas Securities LLC now owns 37,000 shares of the company's stock worth $630,000 after buying an additional 12,486 shares during the period. Finally, R Squared Ltd bought a new position in BrightSpring Health Services during the 4th quarter valued at about $74,000.

BrightSpring Health Services Stock Up 2.1 %

Shares of BTSG traded up $0.37 during mid-day trading on Thursday, hitting $17.90. 2,284,979 shares of the company's stock were exchanged, compared to its average volume of 1,293,473. BrightSpring Health Services, Inc. has a fifty-two week low of $10.15 and a fifty-two week high of $24.82. The stock's 50-day moving average is $17.60 and its 200-day moving average is $18.45. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.97 and a current ratio of 1.35. The company has a market cap of $3.13 billion, a price-to-earnings ratio of -68.85 and a beta of 2.02.

Analysts Set New Price Targets

Separately, UBS Group upped their price target on shares of BrightSpring Health Services from $22.00 to $30.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $21.67.

BrightSpring Health Services Profile

BrightSpring Health Services, Inc operates a home and community-based healthcare services platform in the United States. The company's platform focuses on delivering pharmacy and provider services, including clinical and supportive care in home and community settings to Medicare, Medicaid, and insured populations.