Denali Advisors LLC Reduces Stock Position in BlueLinx Holdings Inc. (NYSE:BXC)

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Public Employees Retirement System of Ohio raised its holdings in shares of BlueLinx by 33.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 504 shares of the construction company's stock worth $51,000 after purchasing an additional 127 shares during the period. PNC Financial Services Group Inc. bought a new stake in shares of BlueLinx in the 4th quarter worth approximately $61,000. CWM LLC raised its holdings in shares of BlueLinx by 92.8% in the 1st quarter. CWM LLC now owns 696 shares of the construction company's stock worth $52,000 after purchasing an additional 335 shares during the period. Tower Research Capital LLC TRC raised 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 purchasing an additional 1,144 shares during the period. Finally, Mariner LLC bought a new stake in shares of BlueLinx in the 4th quarter worth approximately $220,000. Hedge funds and other institutional investors own 90.83% of the company's stock.

BlueLinx Price Performance

BXC traded down $8.22 during trading on Friday, reaching $74.15. The stock had a trading volume of 166,571 shares, compared to its average volume of 83,394. The business has a 50-day moving average of $73.13 and a 200-day moving average of $81.43. BlueLinx Holdings Inc. has a one year low of $63.14 and a one year high of $134.79. The stock has a market cap of $594.83 million, a PE ratio of 16.55 and a beta of 1.90. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.73 and a current ratio of 4.16.

Wall Street Analysts Forecast Growth

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

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.