Harvest Portfolios Group Inc. Takes $1.99 Million Position in Bullish $BLSH

Harvest Portfolios Group Inc. acquired a new stake in Bullish (NYSE:BLSH) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 52,553 shares of the company’s stock, valued at approximately $1,990,000.

Several other large investors also recently modified their holdings of the stock. ARK Investment Management LLC bought a new position in shares of Bullish in the third quarter valued at about $163,904,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Bullish by 75.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,529,313 shares of the company’s stock valued at $95,785,000 after acquiring an additional 1,086,420 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Bullish by 7.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,563,985 shares of the company’s stock valued at $59,228,000 after acquiring an additional 104,724 shares in the last quarter. Amova Asset Management Americas Inc. acquired a new position in shares of Bullish in the third quarter valued at about $91,431,000. Finally, UBS Group AG grew its stake in shares of Bullish by 486.1% in the fourth quarter. UBS Group AG now owns 1,309,248 shares of the company’s stock valued at $49,581,000 after acquiring an additional 1,085,846 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Bullish from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Friday, February 6th. Citigroup decreased their price target on shares of Bullish from $67.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Wall Street Zen upgraded shares of Bullish from a “sell” rating to a “hold” rating in a research note on Monday, February 23rd. Rosenblatt Securities upped their price target on shares of Bullish from $39.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Bullish in a research note on Friday, March 27th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $51.92.

Bullish Trading Up 2.0%

Shares of Bullish stock opened at $36.97 on Thursday. The company has a market capitalization of $5.58 billion and a price-to-earnings ratio of -5.64. 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 has a 12-month low of $24.79 and a 12-month high of $118.00. The firm’s 50-day moving average price is $38.95 and its two-hundred day moving average price is $38.72.

Bullish (NYSE:BLSH) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The firm had revenue of $92.83 million for the quarter. Bullish had a positive return on equity of 1.82% and a negative net margin of 314.40%.The business’s quarterly revenue was up 48.8% compared to the same quarter last year. On average, analysts forecast that Bullish will post 0.73 earnings per share for the current fiscal year.

Insider Transactions at Bullish

In other Bullish news, CEO Thomas W. Farley sold 80,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $43.95, for a total transaction of $3,516,000.00. Following the sale, the chief executive officer directly owned 80,000 shares in the company, valued at $3,516,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Key Stories Impacting Bullish

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: ARK Invest added roughly 122,000 shares of Bullish, a vote of confidence that helped lift sentiment around the stock. Cathie Wood Invests $2.5M in Bullish Stock (BLSH) and Trims Stake in Streaming Giant Roku (ROKU)
• Positive Sentiment: The stock is also benefiting from commentary that analysts see meaningful upside from current levels, reinforcing the idea that the recent weakness may be overdone. Bullish (BLSH) Stock Climbs 4% as Cathie Wood’s Ark Invest Scoops Up Shares
• Neutral Sentiment: Bullish recently reported quarterly revenue growth, but earnings missed expectations, which keeps the fundamental picture mixed for investors.

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.