Vestmark Advisory Solutions Inc. Takes $2.72 Million Position in Bullish $BLSH

Vestmark Advisory Solutions Inc. acquired a new position in Bullish (NYSE:BLSH) during the third quarter, Holdings Channel reports. The firm acquired 42,716 shares of the company’s stock, valued at approximately $2,717,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Tradewinds Capital Management LLC purchased a new position in shares of Bullish during the third quarter worth about $25,000. Ameritas Advisory Services LLC purchased a new position in Bullish in the 3rd quarter worth approximately $29,000. CWM LLC bought a new position in shares of Bullish in the 3rd quarter worth $31,000. Tsfg LLC purchased a new stake in shares of Bullish during the 3rd quarter valued at $45,000. Finally, Albion Financial Group UT bought a new stake in shares of Bullish during the 3rd quarter worth $64,000.

Bullish Trading Up 0.3%

Shares of NYSE:BLSH opened at $30.73 on Wednesday. The company has a current ratio of 29.28, a quick ratio of 27.69 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $36.12. The company has a market capitalization of $4.49 billion and a P/E ratio of 307.30. Bullish has a 12 month low of $24.79 and a 12 month high of $118.00.

Bullish (NYSE:BLSH) last announced its quarterly earnings results on Thursday, February 5th. The company reported ($3.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($3.89). The business had revenue of $92.50 million for the quarter. Bullish had a negative net margin of 0.95% and a negative return on equity of 10.58%. Bullish’s revenue for the quarter was up 67.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 EPS.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BLSH. Rosenblatt Securities lowered their price target on Bullish from $52.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Bullish in a research note on Monday, December 29th. Canaccord Genuity Group decreased their price target on shares of Bullish from $68.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, November 24th. Deutsche Bank Aktiengesellschaft raised shares of Bullish from a “hold” rating to a “buy” rating and reduced their target price for the company from $52.00 to $51.00 in a report on Wednesday, November 19th. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $50.00 price target on shares of Bullish in a research note on Tuesday, January 6th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.