Stephens Investment Management Group LLC Boosts Position in Bullish $BLSH

Stephens Investment Management Group LLC raised its holdings in shares of Bullish (NYSE:BLSH) by 38.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,178,599 shares of the company’s stock after acquiring an additional 328,351 shares during the period. Stephens Investment Management Group LLC owned approximately 0.78% of Bullish worth $42,111,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Rakuten Securities Inc. acquired a new stake in shares of Bullish in the fourth quarter worth $28,000. Strs Ohio acquired a new position in Bullish during the fourth quarter valued at $30,000. MetLife Investment Management LLC purchased a new stake in Bullish in the fourth quarter valued at $30,000. Kestra Advisory Services LLC acquired a new stake in Bullish during the 4th quarter worth about $61,000. Finally, Allworth Financial LP purchased a new position in shares of Bullish during the 3rd quarter valued at about $65,000.

Insider Buying and Selling at Bullish

In other news, CEO Thomas W. Farley sold 80,000 shares of Bullish stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $43.95, for a total value of $3,516,000.00. Following the sale, the chief executive officer directly owned 80,000 shares of the company’s stock, valued at $3,516,000. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Bullish Stock Down 0.1%

BLSH opened at $25.55 on Friday. The company has a market cap of $3.85 billion and a PE ratio of -3.90. Bullish has a twelve month low of $21.76 and a twelve month high of $118.00. The company has a 50-day moving average price of $32.39 and a 200 day moving average price of $35.27. The company has a quick ratio of 25.23, a current ratio of 26.42 and a debt-to-equity ratio of 0.18.

Bullish (NYSE:BLSH) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.04). Bullish had a positive return on equity of 1.82% and a negative net margin of 314.40%.The firm had revenue of $92.83 million during the quarter. The business’s revenue was up 48.8% compared to the same quarter last year. Sell-side analysts expect that Bullish will post 0.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on BLSH. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $61.00 price objective on shares of Bullish in a report on Friday, May 15th. Cantor Fitzgerald lifted their price target on Bullish from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Rosenblatt Securities boosted their price target on Bullish from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. lowered their price objective on Bullish from $43.00 to $26.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 16th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Bullish in a research note on Wednesday, June 24th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $50.67.

Bullish Company Profile

Bullish (NYSE: BLSH) is a company that develops and operates digital asset market infrastructure, including a cryptocurrency trading platform and related technology services. The firm’s stated activities focus on providing exchange services, market structure and trading technology designed to support the listing, execution and clearing of digital assets. Bullish positions itself as a bridge between traditional capital markets practices and the evolving cryptocurrency ecosystem.

The business was announced in connection with Block.one, the software developer known for its work on the EOS blockchain, and was formed with the intent of creating a regulated, institutional-grade marketplace for digital assets.