WINTON GROUP Ltd Acquires New Position in Bullish $BLSH

Key Points

• WINTON GROUP Ltd bought a new position in Bullish (NYSE: BLSH) in Q3, acquiring 111,600 shares worth about $7.10 million and representing roughly 0.08% of the company.
• Bullish reported a large earnings miss for the quarter—EPS of ($3.73) vs. $0.16 expected—while revenue rose 67.6% to $92.5 million, and the company showed negative net margin and return on equity.
• Analyst sentiment is mixed: the stock has an average rating of "Hold" with an average target of $52.08, and recent notes include lowered targets from Canaccord and JPMorgan; overall coverage shows 5 Buys, 7 Holds and 1 Sell.

WINTON GROUP Ltd bought a new position in shares of Bullish (NYSE:BLSH - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 111,600 shares of the company's stock, valued at approximately $7,099,000. WINTON GROUP Ltd owned approximately 0.08% of Bullish as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BLSH. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Bullish during the third quarter worth $91,782,000. Nwam LLC acquired a new position in Bullish during the 3rd quarter worth $4,540,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Bullish during the 3rd quarter worth $2,723,000. Renaissance Capital LLC purchased a new stake in Bullish during the 3rd quarter worth about $2,436,000. Finally, Monashee Investment Management LLC acquired a new stake in Bullish in the 3rd quarter valued at about $3,180,000.

Wall Street Analyst Weigh In

BLSH has been the subject of a number of recent research reports. Canaccord Genuity Group decreased their price target on shares of Bullish from $68.00 to $50.00 and set a "buy" rating for the company in a research note on Monday, November 24th. JPMorgan Chase & Co. decreased their target price on Bullish from $42.00 to $41.00 and set a "neutral" rating for the company in a research report on Friday, February 6th. Sanford C. Bernstein reissued a "market perform" rating and set a $50.00 price objective 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 dropped their target price for the company from $52.00 to $51.00 in a report on Wednesday, November 19th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Bullish in a research note on Monday, December 29th. Five 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 company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $52.08.

Bullish Stock Up 0.1%

Shares of NYSE BLSH opened at $35.06 on Monday. The stock has a market capitalization of $5.13 billion and a price-to-earnings ratio of 350.63. Bullish has a 52 week low of $24.79 and a 52 week high of $118.00. The firm has a 50-day moving average price of $34.66 and a 200 day moving average price of $46.22. The company has a quick ratio of 27.69, a current ratio of 29.28 and a debt-to-equity ratio of 0.15.

Bullish (NYSE:BLSH - Get Free Report) last issued its 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). Bullish had a negative net margin of 0.95% and a negative return on equity of 10.58%. The company had revenue of $92.50 million during the quarter. During the same period in the previous year, the business posted $1.37 earnings per share. The company's quarterly revenue was up 67.6% compared to the same quarter last year.

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.

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