BlueLinx Holdings Inc. (NYSE:BXC) Short Interest Update

BlueLinx Holdings Inc. (NYSE:BXC) was the recipient of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 188,800 shares, a decrease of 7.6% from the October 15th total of 204,300 shares. Approximately 2.4% of the shares of the company are sold short. Based on an average trading volume of 67,600 shares, the short-interest ratio is presently 2.8 days.

Hedge Funds Weigh In On BlueLinx

Large investors have recently modified their holdings of the business. nVerses Capital LLC raised its stake in shares of BlueLinx by 200.0% during the 2nd quarter. nVerses Capital LLC now owns 300 shares of the construction company’s stock worth $28,000 after buying an additional 200 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of BlueLinx during the 2nd quarter worth approximately $39,000. Public Employees Retirement System of Ohio raised its stake in shares of BlueLinx by 59.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 377 shares of the construction company’s stock worth $40,000 after buying an additional 140 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of BlueLinx during the 2nd quarter worth approximately $70,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of BlueLinx by 305.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 564 shares of the construction company’s stock worth $73,000 after acquiring an additional 425 shares during the period. 90.83% of the stock is owned by hedge funds and other institutional investors.

BlueLinx Stock Performance

Shares of BXC stock opened at $122.97 on Tuesday. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 35.75 and a beta of 1.94. The stock has a 50 day simple moving average of $108.97 and a 200-day simple moving average of $103.63. BlueLinx has a 12-month low of $85.98 and a 12-month high of $132.67. The company has a current ratio of 4.58, a quick ratio of 3.26 and a debt-to-equity ratio of 0.88.

Wall Street Analyst Weigh In

BXC has been the subject of several analyst reports. StockNews.com raised BlueLinx from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Craig Hallum upped their price objective on BlueLinx from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, DA Davidson upped their price objective on BlueLinx from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, BlueLinx currently has an average rating of “Buy” and a consensus target price of $135.67.

BlueLinx Company Profile

BlueLinx Holdings Inc, together with its subsidiaries, engages in the distribution of residential and commercial building products in the United States. It distributes specialty products, including engineered wood, siding, millwork, outdoor living, specialty lumber and panels, and industrial products; and structural products, such as lumber, plywood, oriented strand boards, rebars and remesh, as well as other wood products that are used for structural support in construction projects.