BlueLinx Holdings Inc. (NYSE:BXC) saw a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 1,170,000 shares, a decline of 12.0% from the October 31st total of 1,330,000 shares. Based on an average trading volume of 143,500 shares, the short-interest ratio is currently 8.2 days. Currently, 13.7% of the shares of the stock are sold short.
Shares of BXC remained flat at $$10.27 on Friday. 146,295 shares of the company were exchanged, compared to its average volume of 403,821. The stock has a market cap of $94.21 million, a PE ratio of -2.84 and a beta of 1.77. The stock’s 50 day simple moving average is $23.77 and its 200 day simple moving average is $24.05. BlueLinx has a twelve month low of $7.87 and a twelve month high of $35.40.
In related news, insider Shyam K. Reddy bought 5,500 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was bought at an average cost of $18.21 per share, with a total value of $100,155.00. Following the completion of the purchase, the insider now owns 20,803 shares in the company, valued at approximately $378,822.63. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mitchell B. Lewis bought 11,900 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was bought at an average cost of $15.81 per share, with a total value of $188,139.00. Following the completion of the purchase, the chief executive officer now owns 160,912 shares of the company’s stock, valued at approximately $2,544,018.72. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 18,900 shares of company stock valued at $309,594. Insiders own 5.07% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC bought a new stake in shares of BlueLinx during the second quarter worth approximately $25,000. Tower Research Capital LLC TRC raised its stake in shares of BlueLinx by 771.4% during the second quarter. Tower Research Capital LLC TRC now owns 1,891 shares of the construction company’s stock worth $37,000 after buying an additional 1,674 shares during the last quarter. Atria Investments LLC bought a new stake in shares of BlueLinx during the second quarter worth approximately $4,029,000. Metropolitan Life Insurance Co NY bought a new stake in shares of BlueLinx during the third quarter worth approximately $100,000. Finally, SG Americas Securities LLC bought a new stake in shares of BlueLinx during the third quarter worth approximately $151,000. 85.29% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on the stock. B. Riley assumed coverage on shares of BlueLinx in a research note on Thursday, August 8th. They issued a “buy” rating and a $28.00 target price for the company. ValuEngine raised shares of BlueLinx from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Zacks Investment Research downgraded shares of BlueLinx from a “hold” rating to a “strong sell” rating in a research note on Monday, November 11th. Finally, TheStreet raised shares of BlueLinx from a “d+” rating to a “c-” rating in a research note on Wednesday, October 16th.
BlueLinx Company Profile
BlueLinx Holdings Inc, together with its subsidiaries, distributes building and industrial products in the United States. It distributes structural products, including plywood, oriented strand board, rebar and remesh, lumber, spruce, and other wood products primarily used for structural support, walls, and flooring in construction projects; and specialty products comprising engineered wood, moulding, siding, cedar, metal, and insulation products.
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