BlueLinx Holdings Inc. (NYSE:BXC) Sees Significant Increase in Short Interest

BlueLinx Holdings Inc. (NYSE:BXC) was the target of a large increase in short interest during the month of November. As of November 29th, there was short interest totalling 1,350,000 shares, an increase of 21.6% from the November 14th total of 1,110,000 shares. Based on an average daily trading volume, of 211,400 shares, the days-to-cover ratio is currently 6.4 days. Approximately 15.8% of the shares of the stock are short sold.

In other news, CEO Mitchell B. Lewis bought 11,900 shares of the stock in a transaction on Thursday, November 7th. The stock was acquired at an average price of $15.81 per share, with a total value of $188,139.00. Following the acquisition, the chief executive officer now directly owns 160,912 shares in the company, valued at $2,544,018.72. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shyam K. Reddy bought 5,500 shares of the stock in a transaction on Thursday, November 7th. The stock was purchased at an average cost of $18.21 per share, with a total value of $100,155.00. Following the acquisition, the insider now owns 20,803 shares in the company, valued at $378,822.63. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 18,900 shares of company stock valued at $309,594. 5.07% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC acquired a new stake in shares of BlueLinx in the second quarter valued at about $25,000. Tower Research Capital LLC TRC increased its stake in shares of BlueLinx by 771.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,891 shares of the construction company’s stock valued at $37,000 after buying an additional 1,674 shares during the period. Atria Investments LLC acquired a new stake in shares of BlueLinx in the second quarter valued at about $4,029,000. Metropolitan Life Insurance Co NY acquired a new stake in shares of BlueLinx in the third quarter valued at about $100,000. Finally, SG Americas Securities LLC acquired a new stake in shares of BlueLinx in the third quarter valued at about $151,000. 85.29% of the stock is owned by institutional investors and hedge funds.

BXC traded down $0.08 on Friday, reaching $11.37. The stock had a trading volume of 152,926 shares, compared to its average volume of 306,992. BlueLinx has a fifty-two week low of $7.87 and a fifty-two week high of $35.40. The firm has a 50-day moving average of $17.61 and a 200-day moving average of $23.17. The company has a market capitalization of $106.42 million, a price-to-earnings ratio of -3.14 and a beta of 1.50.

BlueLinx (NYSE:BXC) last issued its earnings results on Tuesday, November 5th. The construction company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.80). The business had revenue of $678.67 million during the quarter, compared to analyst estimates of $712.30 million. As a group, analysts predict that BlueLinx will post -1.12 EPS for the current fiscal year.

A number of equities analysts have issued reports on the company. TheStreet raised BlueLinx from a “d+” rating to a “c-” rating in a report on Wednesday, October 16th. ValuEngine raised BlueLinx from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Zacks Investment Research cut BlueLinx from a “hold” rating to a “strong sell” rating in a report on Monday, November 11th.

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.

Featured Story: Most Volatile Stocks – What Investors Need to Know to Maximize ROI

Receive News & Ratings for BlueLinx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlueLinx and related companies with MarketBeat.com's FREE daily email newsletter.