Bullish $BLSH Shares Sold by Rovida Investment Management Ltd

Rovida Investment Management Ltd cut its holdings in Bullish (NYSE:BLSH) by 24.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 200,000 shares of the company’s stock after selling 64,066 shares during the period. Bullish makes up about 1.0% of Rovida Investment Management Ltd’s holdings, making the stock its 13th largest position. Rovida Investment Management Ltd’s holdings in Bullish were worth $7,566,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Ameritas Advisory Services LLC acquired a new stake in Bullish in the third quarter valued at $29,000. 10Elms LLP acquired a new stake in Bullish in the third quarter valued at $32,000. Tsfg LLC acquired a new stake in Bullish in the third quarter valued at $45,000. Rakuten Securities Inc. acquired a new stake in Bullish in the fourth quarter valued at $28,000. Finally, Strs Ohio acquired a new stake in Bullish in the fourth quarter valued at $30,000.

Insiders Place Their Bets

In other Bullish 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 owned 80,000 shares of the company’s stock, valued at approximately $3,516,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wall Street Zen upgraded Bullish from a “sell” rating to a “hold” rating in a research report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $61.00 target price on shares of Bullish in a research report on Friday, May 15th. Citigroup cut their target price on Bullish from $67.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. JPMorgan Chase & Co. cut their target price on Bullish from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Friday, February 6th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Bullish in a research report on Friday, March 27th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $51.92.

Bullish Stock Performance

Shares of BLSH stock opened at $34.85 on Monday. The stock has a market capitalization of $5.26 billion and a PE ratio of -5.32. Bullish has a 52-week low of $24.79 and a 52-week high of $118.00. The stock’s 50-day moving average price is $38.58 and its 200 day moving average price is $38.12. 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 announced its quarterly earnings data on Thursday, May 14th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). Bullish had a negative net margin of 314.40% and a positive return on equity of 1.82%. The business had revenue of $92.83 million during the quarter. The business’s revenue for the quarter was up 48.8% on a year-over-year basis. As a group, equities research analysts forecast that Bullish will post 0.72 EPS for the current year.

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.