Vestmark Advisory Solutions Inc. Makes New Investment in Bullish $BLSH

Vestmark Advisory Solutions Inc. acquired a new stake in Bullish (NYSE:BLSH) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 42,716 shares of the company’s stock, valued at approximately $2,717,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BLSH. BIT Capital GmbH purchased a new stake in shares of Bullish during the third quarter valued at approximately $1,462,000. CenterBook Partners LP bought a new position in Bullish in the 3rd quarter valued at $1,184,000. Readystate Asset Management LP purchased a new stake in shares of Bullish during the 3rd quarter valued at $1,590,000. JPMorgan Chase & Co. purchased a new position in shares of Bullish in the 3rd quarter worth about $9,864,000. Finally, Ameritas Advisory Services LLC bought a new position in Bullish during the third quarter valued at about $29,000.

Bullish Stock Performance

Shares of NYSE BLSH opened at $30.73 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 27.69 and a current ratio of 29.28. Bullish has a fifty-two week low of $24.79 and a fifty-two week high of $118.00. The stock has a market capitalization of $4.49 billion and a PE ratio of 307.30. The company has a fifty day moving average of $36.12.

Bullish (NYSE:BLSH) last issued its 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). Bullish had a negative return on equity of 10.58% and a negative net margin of 0.95%.The company had revenue of $92.50 million during the quarter. During the same period in the prior year, the company posted $1.37 EPS. The firm’s revenue for the quarter was up 67.6% compared to the same quarter last year.

Analyst Ratings Changes

A number of research analysts have weighed in on BLSH shares. Wall Street Zen upgraded shares of Bullish from a “sell” rating to a “hold” rating in a research note on Monday. Sanford C. Bernstein reissued a “market perform” rating and set a $50.00 price objective on shares of Bullish in a report on Tuesday, January 6th. Rosenblatt Securities decreased their target price on Bullish from $52.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Deutsche Bank Aktiengesellschaft upgraded Bullish from a “hold” rating to a “buy” rating and cut their price target for the stock from $52.00 to $51.00 in a research note on Wednesday, November 19th. Finally, Canaccord Genuity Group lowered their price objective on Bullish from $68.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, November 24th. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.