BlueLinx Holdings Inc. $BXC Shares Sold by Voss Capital LP

Key Points

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Voss Capital LP reduced its position in BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 88.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,500 shares of the construction company's stock after selling 93,500 shares during the quarter. Voss Capital LP owned 0.16% of BlueLinx worth $937,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Wells Fargo & Company MN grew its stake in BlueLinx by 25.3% in the fourth quarter. Wells Fargo & Company MN now owns 4,854 shares of the construction company's stock valued at $496,000 after purchasing an additional 980 shares during the last quarter. Invesco Ltd. grew its stake in shares of BlueLinx by 2.8% during the fourth quarter. Invesco Ltd. now owns 10,947 shares of the construction company's stock worth $1,118,000 after acquiring an additional 295 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of BlueLinx during the fourth quarter worth about $3,451,000. Barclays PLC grew its stake in shares of BlueLinx by 24.2% during the fourth quarter. Barclays PLC now owns 56,169 shares of the construction company's stock worth $5,739,000 after acquiring an additional 10,940 shares during the last quarter. Finally, Mariner LLC purchased a new stake in shares of BlueLinx during the fourth quarter worth about $220,000. 90.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BXC has been the topic of a number of research analyst reports. Benchmark dropped their price target on BlueLinx from $110.00 to $83.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. DA Davidson set a $75.00 price target on BlueLinx and gave the stock a "neutral" rating in a research note on Monday, August 4th. Finally, Wall Street Zen lowered BlueLinx from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, BlueLinx has a consensus rating of "Moderate Buy" and an average target price of $91.00.

BlueLinx Stock Up 7.3%

Shares of BXC traded up $5.7450 during midday trading on Friday, hitting $84.3750. The company had a trading volume of 92,404 shares, compared to its average volume of 131,666. The company's 50-day simple moving average is $77.05 and its 200-day simple moving average is $76.27. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.94 and a current ratio of 4.55. The firm has a market capitalization of $665.72 million, a P/E ratio of 25.04 and a beta of 1.74. BlueLinx Holdings Inc. has a 1 year low of $63.13 and a 1 year high of $134.79.

BlueLinx announced that its board has authorized a stock repurchase program on Tuesday, July 29th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the construction company to reacquire up to 8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

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.