Wellington Management Group LLP Has $1.82 Million Stake in Bullish $BLSH

Key Points

• Wellington Management increased its Bullish stake by 787% in the second quarter, ending with 77,829 shares valued at approximately $1.82 million. Several other institutional investors also initiated positions.
• Bullish reported quarterly revenue of $92.62 million, up 62.5% year over year, and earnings of $0.09 per share, in line with analyst expectations. However, the company posted a deeply negative net margin of 389.38%.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $49.30 versus a recent share price of $33.80. Potential crypto-market legislation could support the business, while weaker digital-asset prices and higher interest rates remain risks.

Wellington Management Group LLP boosted its holdings in Bullish (NYSE:BLSH - Free Report) by 787.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,829 shares of the company's stock after purchasing an additional 69,055 shares during the period. Wellington Management Group LLP owned about 0.05% of Bullish worth $1,824,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Essential Partners LLC bought a new stake in Bullish during the 1st quarter worth about $27,000. Strs Ohio acquired a new stake in shares of Bullish in the fourth quarter valued at about $30,000. MetLife Investment Management LLC acquired a new stake in shares of Bullish in the fourth quarter valued at about $30,000. Kestra Advisory Services LLC bought a new stake in Bullish during the fourth quarter worth about $61,000. Finally, California State Teachers Retirement System bought a new stake in Bullish during the fourth quarter worth about $78,000.

Bullish Stock Down 1.6%

Shares of BLSH opened at $33.80 on Friday. Bullish has a 52 week low of $20.55 and a 52 week high of $74.98. The firm has a market cap of $5.10 billion and a P/E ratio of -3.65. The firm's 50-day simple moving average is $27.10 and its 200 day simple moving average is $31.99. The company has a debt-to-equity ratio of 0.20, a quick ratio of 22.41 and a current ratio of 23.52.

Bullish (NYSE:BLSH - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. Bullish had a negative net margin of 389.38% and a positive return on equity of 2.48%. The firm had revenue of $92.62 million during the quarter. The business's revenue was up 62.5% compared to the same quarter last year. On average, analysts forecast that Bullish will post 0.46 earnings per share for the current year.

Key Bullish News

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Potential U.S. crypto-market legislation is a constructive long-term development for Bullish. White House crypto adviser Patrick Witt said the CLARITY Act has a path forward, although stablecoin provisions, ethics discussions and limited legislative time could delay Senate passage. Clearer rules could support institutional participation and trading activity across the digital-asset industry. White House Crypto Advisor Is Bullish on CLARITY Act
• Neutral Sentiment: Most of the other articles concern analyst ratings or outlooks for unrelated companies, including Marvell, Oracle, Rocket Lab, Broadcom and Robinhood. They do not provide a direct catalyst for Bullish or change its earnings outlook.
• Negative Sentiment: Hotter inflation data increased expectations for higher interest rates and drove cryptocurrency prices lower. Persistent weakness in Bitcoin and other digital assets could reduce trading volumes, investor risk appetite and valuation multiples for crypto-focused companies such as Bullish.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BLSH. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $61.00 price target on shares of Bullish in a research note on Friday, May 15th. Rosenblatt Securities cut their price objective on Bullish from $42.50 to $30.00 and set a "neutral" rating for the company in a report on Friday, August 14th. Canaccord Genuity Group decreased their target price on shares of Bullish from $50.00 to $45.00 and set a "buy" rating for the company in a research note on Monday, August 17th. Wall Street Zen upgraded shares of Bullish from a "sell" rating to a "hold" rating in a report on Monday, August 3rd. Finally, Weiss Ratings lowered shares of Bullish from a "sell (d)" rating to a "sell (e+)" rating in a research report on Friday, August 14th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $49.30.

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.

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