Delta Global Management LP Buys New Shares in Bullish $BLSH

Delta Global Management LP bought a new stake in Bullish (NYSE:BLSH) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 23,500 shares of the company’s stock, valued at approximately $890,000.

Several other hedge funds have also made changes to their positions in the stock. ARK Investment Management LLC lifted its stake in shares of Bullish by 87.1% in the fourth quarter. ARK Investment Management LLC now owns 4,821,700 shares of the company’s stock valued at $182,598,000 after buying an additional 2,244,991 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted 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 buying an additional 1,086,420 shares during the period. Amova Asset Management Americas Inc. lifted its stake in shares of Bullish by 75.7% in the fourth quarter. Amova Asset Management Americas Inc. now owns 2,524,820 shares of the company’s stock valued at $95,514,000 after buying an additional 1,087,452 shares during the period. Massachusetts Financial Services Co. MA lifted 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 buying an additional 104,724 shares during the period. Finally, UBS Group AG lifted its stake in Bullish by 486.1% during the fourth quarter. UBS Group AG now owns 1,309,248 shares of the company’s stock worth $49,581,000 after purchasing an additional 1,085,846 shares during the period.

Bullish Stock Performance

NYSE BLSH opened at $25.98 on Wednesday. The firm has a market cap of $3.92 billion and a price-to-earnings ratio of -3.97. The company has a 50 day moving average of $36.53 and a 200-day moving average of $37.11. The company has a current ratio of 26.42, a quick ratio of 25.23 and a debt-to-equity ratio of 0.18. Bullish has a 1-year low of $24.79 and a 1-year high of $118.00.

Bullish (NYSE:BLSH) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate 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%.Bullish’s revenue for the quarter was up 48.8% on a year-over-year basis. On average, equities analysts forecast that Bullish will post 0.72 earnings per share for the current fiscal year.

Key Stories Impacting Bullish

Here are the key news stories impacting Bullish this week:

• Neutral Sentiment: JPMorgan lowered its price target on Bullish to $26 from $43 and maintained a neutral rating, signaling a more cautious outlook on the stock’s valuation and near-term upside. JPMorgan lowers Bullish price target
• Negative Sentiment: The downgrade comes as Bullish already trades near its 52-week low, far below its 50-day and 200-day moving averages, highlighting ongoing pressure on sentiment after a recent earnings miss and weak net margin.
• Neutral Sentiment: Recent broader market headlines using the word “bullish” across crypto and other stocks do not appear to be company-specific drivers for Bullish and are unlikely to materially affect BLSH shares.

Insider Buying and Selling at Bullish

In other news, CEO Thomas W. Farley sold 80,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 80,000 shares of the company’s stock, valued at approximately $3,516,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Citigroup cut their price target on shares of Bullish from $67.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $61.00 price target on shares of Bullish in a research note on Friday, May 15th. Rosenblatt Securities raised their price target on shares of Bullish from $39.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 13th. Wall Street Zen cut shares of Bullish from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Bullish in a research note on Friday, March 27th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $50.67.

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.