MQS Management LLC Purchases New Holdings in BlueLinx Holdings Inc. (NYSE:BXC)

MQS Management LLC acquired a new position in shares of BlueLinx Holdings Inc. (NYSE:BXC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,369 shares of the construction company’s stock, valued at approximately $355,000.

A number of other hedge funds have also recently bought and sold shares of the company. nVerses Capital LLC raised its position in shares of BlueLinx by 200.0% during the second quarter. nVerses Capital LLC now owns 300 shares of the construction company’s stock worth $28,000 after acquiring an additional 200 shares during the last quarter. Innealta Capital LLC acquired a new position in BlueLinx during the 2nd quarter valued at about $39,000. Allspring Global Investments Holdings LLC lifted its position in BlueLinx by 305.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 564 shares of the construction company’s stock valued at $73,000 after purchasing an additional 425 shares during the period. Meeder Asset Management Inc. bought a new position in shares of BlueLinx in the 2nd quarter valued at about $70,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of BlueLinx by 24.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,097 shares of the construction company’s stock worth $195,000 after buying an additional 418 shares during the period. 90.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BXC has been the topic of several analyst reports. StockNews.com upgraded shares of BlueLinx from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Craig Hallum increased their price target on BlueLinx from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, DA Davidson lifted their price objective on BlueLinx from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $135.67.

BlueLinx Stock Down 2.0 %

Shares of NYSE BXC opened at $121.20 on Friday. BlueLinx Holdings Inc. has a 52-week low of $84.43 and a 52-week high of $132.67. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.26 and a current ratio of 4.58. The stock has a market cap of $1.02 billion, a P/E ratio of 35.23 and a beta of 1.94. The firm has a 50 day moving average price of $107.27 and a 200 day moving average price of $103.32.

BlueLinx 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.