Denali Advisors LLC Sells 27,395 Shares of BlueLinx Holdings Inc. (NYSE:BXC)

Denali Advisors LLC lowered its position in BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 46.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,223 shares of the construction company's stock after selling 27,395 shares during the quarter. Denali Advisors LLC owned 0.39% of BlueLinx worth $2,341,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of BlueLinx during the fourth quarter valued at $3,451,000. PNC Financial Services Group Inc. acquired a new stake in shares of BlueLinx during the fourth quarter valued at $61,000. HighTower Advisors LLC acquired a new stake in shares of BlueLinx during the fourth quarter valued at $1,055,000. Intech Investment Management LLC boosted its stake in shares of BlueLinx by 48.1% during the fourth quarter. Intech Investment Management LLC now owns 2,813 shares of the construction company's stock valued at $287,000 after acquiring an additional 914 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in shares of BlueLinx by 98.1% during the fourth quarter. Teacher Retirement System of Texas now owns 21,922 shares of the construction company's stock valued at $2,240,000 after acquiring an additional 10,854 shares during the last quarter. Hedge funds and other institutional investors own 90.83% of the company's stock.

Wall Street Analyst Weigh In

BXC has been the subject of a number of research reports. Wall Street Zen cut BlueLinx from a "hold" rating to a "sell" rating in a report on Friday. Benchmark decreased their target price on BlueLinx from $120.00 to $110.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Loop Capital decreased their target price on BlueLinx from $120.00 to $115.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, DA Davidson cut BlueLinx from a "buy" rating to a "neutral" rating and set a $80.00 target price for the company. in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, BlueLinx presently has an average rating of "Hold" and an average target price of $110.00.

BlueLinx Stock Up 4.8%

Shares of BXC traded up $3.51 during midday trading on Tuesday, reaching $77.39. 200,267 shares of the stock were exchanged, compared to its average volume of 84,050. BlueLinx Holdings Inc. has a 12-month low of $63.14 and a 12-month high of $134.79. The firm has a 50 day simple moving average of $73.13 and a 200-day simple moving average of $81.30. The company has a quick ratio of 2.73, a current ratio of 4.16 and a debt-to-equity ratio of 0.94. The company has a market cap of $620.83 million, a price-to-earnings ratio of 17.27 and a beta of 1.90.

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.