Wellington Management Group LLP Has $1.82 Million Holdings in Bullish $BLSH

Wellington Management Group LLP increased its stake in Bullish (NYSE:BLSH) by 787.0% during the second quarter, Holdings Channel reports. The firm owned 77,829 shares of the company’s stock after acquiring an additional 69,055 shares during the period. Wellington Management Group LLP’s holdings in Bullish were worth $1,824,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BLSH. ARK Investment Management LLC grew its stake in Bullish by 87.1% during the fourth quarter. ARK Investment Management LLC now owns 4,821,700 shares of the company’s stock worth $182,598,000 after buying an additional 2,244,991 shares in the last quarter. Amova Asset Management Americas Inc. raised its position in shares of Bullish by 51.9% in the 1st quarter. Amova Asset Management Americas Inc. now owns 3,836,063 shares of the company’s stock valued at $137,139,000 after buying an additional 1,311,243 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Bullish by 51.6% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,833,886 shares of the company’s stock worth $136,985,000 after acquiring an additional 1,304,573 shares during the period. Invesco Ltd. boosted its position in shares of Bullish by 87.2% during the 4th quarter. Invesco Ltd. now owns 2,197,520 shares of the company’s stock worth $83,220,000 after acquiring an additional 1,023,835 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in Bullish by 36.1% in the fourth quarter. Janus Henderson Group PLC now owns 1,238,313 shares of the company’s stock valued at $46,895,000 after acquiring an additional 328,446 shares during the last quarter.

Bullish Stock Performance

Shares of Bullish stock opened at $33.80 on Friday. Bullish has a fifty-two week low of $20.55 and a fifty-two week high of $74.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 23.52 and a quick ratio of 22.41. The firm has a market capitalization of $5.10 billion and a P/E ratio of -3.65. The company’s 50 day moving average price is $27.10 and its two-hundred day moving average price is $31.99.

Bullish (NYSE:BLSH) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. Bullish had a negative net margin of 389.38% and a positive return on equity of 2.48%. The company had revenue of $92.62 million during the quarter. The company’s revenue was up 62.5% compared to the same quarter last year. On average, equities analysts forecast that Bullish will post 0.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on BLSH shares. JPMorgan Chase & Co. cut their target price on Bullish from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 14th. Weiss Ratings cut Bullish from a “sell (d)” rating to a “sell (e+)” rating in a report on Friday, August 14th. Canaccord Genuity Group dropped their price objective on Bullish from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, August 17th. Citigroup reaffirmed a “buy” rating on shares of Bullish in a research note on Monday, July 27th. Finally, Wall Street Zen upgraded Bullish from a “sell” rating to a “hold” rating in a research report on Monday, August 3rd. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $49.30.

Bullish News Roundup

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Potential U.S. crypto-market legislation is a constructive long-term development for Bullish. White House crypto adviser Patrick Witt said the CLARITY Act has a path forward, although stablecoin provisions, ethics discussions and limited legislative time could delay Senate passage. Clearer rules could support institutional participation and trading activity across the digital-asset industry. White House Crypto Advisor Is Bullish on CLARITY Act
• Neutral Sentiment: Most of the other articles concern analyst ratings or outlooks for unrelated companies, including Marvell, Oracle, Rocket Lab, Broadcom and Robinhood. They do not provide a direct catalyst for Bullish or change its earnings outlook.
• Negative Sentiment: Hotter inflation data increased expectations for higher interest rates and drove cryptocurrency prices lower. Persistent weakness in Bitcoin and other digital assets could reduce trading volumes, investor risk appetite and valuation multiples for crypto-focused companies such as Bullish.

Bullish 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.