Rovida Investment Management Ltd Makes New Investment in Bullish $BLSH

by · The Markets Daily

Rovida Investment Management Ltd bought a new stake in shares of Bullish (NYSE:BLSH – Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 264,066 shares of the company’s stock, valued at approximately $16,797,000. Bullish makes up about 1.9% of Rovida Investment Management Ltd’s holdings, making the stock its 10th biggest holding. Rovida Investment Management Ltd owned about 0.18% of Bullish at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ARK Investment Management LLC bought a new position in shares of Bullish in the third quarter valued at approximately $163,904,000. Massachusetts Financial Services Co. MA bought a new position in Bullish in the 3rd quarter valued at $92,824,000. Sumitomo Mitsui Trust Group Inc. bought a new position in Bullish in the 3rd quarter valued at $91,782,000. Amova Asset Management Americas Inc. purchased a new position in shares of Bullish during the 3rd quarter valued at $91,431,000. Finally, Stephens Investment Management Group LLC bought a new position in shares of Bullish in the third quarter worth $27,080,000.

Bullish Stock Performance

Shares of NYSE BLSH opened at $35.02 on Friday. The stock’s 50-day moving average is $34.78 and its 200 day moving average is $46.62. The stock has a market cap of $5.12 billion and a price-to-earnings ratio of 350.20. Bullish has a 1-year low of $24.79 and a 1-year high of $118.00. The company has a current ratio of 29.28, a quick ratio of 27.69 and a debt-to-equity ratio of 0.15.

Bullish (NYSE:BLSH – Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The company reported ($3.73) 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 was up 67.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.37 EPS.

Analyst Upgrades and Downgrades

BLSH has been the subject of several research analyst reports. Wall Street Zen raised Bullish from a “sell” rating to a “hold” rating in a research note on Monday, February 23rd. Sanford C. Bernstein reiterated a “market perform” rating and set a $50.00 price target on shares of Bullish in a research report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft raised Bullish from a “hold” rating to a “buy” rating and cut their price objective for the stock from $52.00 to $51.00 in a report on Wednesday, November 19th. Rosenblatt Securities lowered their target price on shares of Bullish from $52.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Finally, Citigroup dropped their target price on shares of Bullish from $77.00 to $67.00 and set a “buy” rating for the company in a research report on Monday, December 22nd. 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 stock. Based on data from MarketBeat.com, Bullish currently has a consensus rating of “Hold” and a consensus target price of $52.08.

Check Out Our Latest Analysis on BLSH

About Bullish

(Free Report)

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.

Further Reading

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