Maltese Capital Management LLC Invests $1.23 Million in Bullish $BLSH

Maltese Capital Management LLC acquired a new stake in Bullish (NYSE:BLSH) during the third quarter, HoldingsChannel reports. The fund acquired 19,300 shares of the company’s stock, valued at approximately $1,228,000.

Several other institutional investors also recently bought and sold shares of BLSH. Jain Global LLC purchased a new position in Bullish during the 3rd quarter worth $9,043,000. Fortress Investment Group LLC purchased a new position in Bullish during the third quarter worth about $15,902,000. Bank of America Corp DE acquired a new stake in Bullish in the third quarter valued at about $8,035,000. Alliancebernstein L.P. acquired a new stake in Bullish in the third quarter valued at about $50,949,000. Finally, Ameriprise Financial Inc. purchased a new stake in Bullish in the 3rd quarter valued at approximately $238,000.

Bullish Trading Up 8.3%

Shares of Bullish stock opened at $39.66 on Tuesday. Bullish has a 12-month low of $24.79 and a 12-month high of $118.00. The company has a current ratio of 29.28, a quick ratio of 27.69 and a debt-to-equity ratio of 0.15. The stock has a market cap of $5.98 billion and a PE ratio of 396.58. The company has a 50-day moving average of $34.39 and a two-hundred day moving average of $44.98.

Bullish (NYSE:BLSH) last announced its quarterly earnings results on Thursday, February 5th. The company reported ($3.73) EPS for the quarter, missing the consensus estimate of $0.16 by ($3.89). The firm had revenue of $92.50 million for the quarter. Bullish had a negative return on equity of 10.58% and a negative net margin of 0.95%.Bullish’s quarterly revenue was up 67.6% on a year-over-year basis. During the same quarter last year, the business earned $1.37 earnings per share.

Analyst Ratings Changes

Several research firms have issued reports on BLSH. Sanford C. Bernstein reiterated a “market perform” rating and set a $50.00 target price on shares of Bullish in a research report on Tuesday, January 6th. Rosenblatt Securities decreased their price target on Bullish from $52.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. JPMorgan Chase & Co. dropped their price objective on Bullish from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Friday, February 6th. Canaccord Genuity Group cut their price objective on Bullish from $68.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, November 24th. Finally, Citigroup reduced their target price on Bullish from $77.00 to $67.00 and set a “buy” rating for the company in a report on Monday, December 22nd. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $52.08.

About Bullish

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.