Verition Fund Management LLC Makes New Investment in BlueLinx Holdings Inc. (NYSE:BXC)

Verition Fund Management LLC bought a new stake in BlueLinx Holdings Inc. (NYSE:BXC) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,489 shares of the construction company’s stock, valued at approximately $262,000.

Several other hedge funds have also modified their holdings of the stock. Summit Global Investments boosted its holdings in BlueLinx by 8.9% in the 2nd quarter. Summit Global Investments now owns 9,256 shares of the construction company’s stock worth $862,000 after acquiring an additional 754 shares during the period. SummerHaven Investment Management LLC boosted its stake in shares of BlueLinx by 2.0% in the second quarter. SummerHaven Investment Management LLC now owns 7,853 shares of the construction company’s stock valued at $731,000 after purchasing an additional 151 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in BlueLinx by 24.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,097 shares of the construction company’s stock valued at $195,000 after purchasing an additional 418 shares in the last quarter. Innealta Capital LLC purchased a new stake in BlueLinx during the 2nd quarter worth $39,000. Finally, Principal Financial Group Inc. lifted its holdings in BlueLinx by 9.9% in the 2nd quarter. Principal Financial Group Inc. now owns 6,047 shares of the construction company’s stock worth $563,000 after buying an additional 545 shares in the last quarter. 90.83% of the stock is currently owned by hedge funds and other institutional investors.

BlueLinx Stock Down 2.5 %

Shares of NYSE:BXC opened at $118.79 on Friday. BlueLinx Holdings Inc. has a 12-month low of $87.67 and a 12-month high of $134.79. 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 firm has a market cap of $995.58 million, a PE ratio of 34.53 and a beta of 2.05. The company has a fifty day simple moving average of $117.17 and a 200 day simple moving average of $106.59.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised BlueLinx from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average 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.