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

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its position in shares of BlueLinx by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,380 shares of the construction company’s stock worth $408,000 after buying an additional 129 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in BlueLinx by 59.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 377 shares of the construction company’s stock valued at $40,000 after purchasing an additional 140 shares during the period. FMR LLC increased its position in BlueLinx by 10.5% during the 3rd quarter. FMR LLC now owns 1,545 shares of the construction company’s stock valued at $163,000 after purchasing an additional 147 shares during the period. SummerHaven Investment Management LLC raised its holdings in BlueLinx by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 7,853 shares of the construction company’s stock worth $731,000 after purchasing an additional 151 shares in the last quarter. Finally, nVerses Capital LLC lifted its position in shares of BlueLinx by 200.0% in the 2nd quarter. nVerses Capital LLC now owns 300 shares of the construction company’s stock worth $28,000 after purchasing an additional 200 shares during the period. Institutional investors own 90.83% of the company’s stock.

BlueLinx Stock Performance

Shares of NYSE:BXC opened at $121.25 on Wednesday. The company has a current ratio of 4.58, a quick ratio of 3.26 and a debt-to-equity ratio of 0.88. The company has a 50-day moving average price of $109.53 and a 200-day moving average price of $103.76. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 35.25 and a beta of 1.94. BlueLinx has a 12 month low of $85.98 and a 12 month high of $132.67.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BXC shares. StockNews.com raised BlueLinx from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. DA Davidson boosted their price objective on BlueLinx from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Craig Hallum increased 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. Four analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $135.67.

About BlueLinx

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.