Amova Asset Management Americas Inc. Acquires 1,311,243 Shares of Bullish $BLSH

Amova Asset Management Americas Inc. raised its stake in shares of Bullish (NYSE:BLSH) by 51.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,836,063 shares of the company’s stock after acquiring an additional 1,311,243 shares during the quarter. Bullish makes up about 1.9% of Amova Asset Management Americas Inc.’s portfolio, making the stock its 15th biggest position. Amova Asset Management Americas Inc. owned approximately 2.54% of Bullish worth $137,139,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP acquired a new stake in Bullish in the first quarter valued at approximately $253,000. SteelPeak Wealth LLC increased its position in shares of Bullish by 13.5% during the first quarter. SteelPeak Wealth LLC now owns 8,577 shares of the company’s stock worth $306,000 after purchasing an additional 1,019 shares in the last quarter. Independent Financial Group LLC purchased a new stake in shares of Bullish during the 1st quarter valued at $373,000. Bank of New York Mellon Corp boosted its position in shares of Bullish by 41.0% in the 1st quarter. Bank of New York Mellon Corp now owns 106,772 shares of the company’s stock worth $3,815,000 after purchasing an additional 31,046 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Bullish during the 1st quarter worth $213,000.

Insider Activity

In related news, CEO Thomas W. Farley sold 80,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $43.95, for a total value of $3,516,000.00. Following the completion of the transaction, the chief executive officer directly owned 80,000 shares in the company, valued at $3,516,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Bullish Stock Up 1.4%

Shares of BLSH opened at $22.73 on Tuesday. Bullish has a 52 week low of $21.76 and a 52 week high of $118.00. The company has a quick ratio of 25.23, a current ratio of 26.42 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $3.43 billion and a price-to-earnings ratio of -3.47. The stock’s 50-day moving average price is $28.70 and its 200-day moving average price is $33.83.

Bullish (NYSE:BLSH) last announced its quarterly earnings results 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). Bullish had a negative net margin of 314.40% and a positive return on equity of 1.82%. The company had revenue of $92.83 million for the quarter. Bullish’s revenue was up 48.8% compared to the same quarter last year. On average, sell-side analysts predict that Bullish will post 0.54 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BLSH shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $61.00 price objective on shares of Bullish in a report on Friday, May 15th. Rosenblatt Securities boosted their target price on shares of Bullish from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. Cantor Fitzgerald upped their price target on shares of Bullish from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Bullish in a report on Wednesday, June 24th. Finally, Zacks Research downgraded shares of Bullish from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $50.67.

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.