Balyasny Asset Management L.P. Cuts Stake in BlueLinx Holdings Inc. (NYSE:BXC)

Balyasny Asset Management L.P. cut its holdings in BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 78.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,359 shares of the construction company's stock after selling 11,924 shares during the period. Balyasny Asset Management L.P.'s holdings in BlueLinx were worth $343,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. purchased a new position in shares of BlueLinx during the fourth quarter valued at about $61,000. AlphaQuest LLC grew its stake in shares of BlueLinx by 28.4% in the 4th quarter. AlphaQuest LLC now owns 1,455 shares of the construction company's stock worth $149,000 after buying an additional 322 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of BlueLinx by 352.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,469 shares of the construction company's stock worth $150,000 after buying an additional 1,144 shares during the last quarter. Mariner LLC bought a new stake in shares of BlueLinx in the 4th quarter worth about $220,000. Finally, Bailard Inc. purchased a new stake in shares of BlueLinx during the 4th quarter valued at about $245,000. 90.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BXC. Benchmark reduced their price objective on BlueLinx from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Loop Capital lowered their price target on BlueLinx from $120.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, April 14th. StockNews.com lowered shares of BlueLinx from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Finally, DA Davidson cut their price target on shares of BlueLinx from $119.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $110.00.

BlueLinx Trading Down 4.6%

Shares of BXC traded down $3.19 during trading hours on Wednesday, reaching $66.60. 32,924 shares of the company traded hands, compared to its average volume of 86,615. The stock's fifty day moving average price is $73.00 and its 200 day moving average price is $94.94. The company has a current ratio of 4.85, a quick ratio of 3.26 and a debt-to-equity ratio of 0.89. The firm has a market cap of $534.24 million, a price-to-earnings ratio of 10.84 and a beta of 1.99. BlueLinx Holdings Inc. has a 12-month low of $63.55 and a 12-month high of $134.79.

BlueLinx (NYSE:BXC - Get Free Report) last issued its earnings results on Tuesday, February 18th. The construction company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). BlueLinx had a return on equity of 7.50% and a net margin of 1.80%. The company had revenue of $710.64 million during the quarter, compared to the consensus estimate of $700.66 million.

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.