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A number of other equities research analysts have also issued reports on the stock. TheStreet raised shares of BlueLinx from a “d+” rating to a “c-” rating in a report on Wednesday, October 16th. B. Riley started coverage on shares of BlueLinx in a report on Thursday, August 8th. They issued a “buy” rating and a $28.00 price target on the stock.
Shares of BXC stock traded down $0.21 on Wednesday, hitting $13.68. 237,499 shares of the company’s stock traded hands, compared to its average volume of 274,947. BlueLinx has a one year low of $13.26 and a one year high of $35.40. The company’s fifty day simple moving average is $29.20 and its 200 day simple moving average is $24.98.
In other BlueLinx news, CEO Mitchell B. Lewis purchased 1,200 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was bought at an average cost of $26.99 per share, with a total value of $32,388.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mitchell B. Lewis purchased 11,900 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were acquired at an average cost of $15.81 per share, with a total value of $188,139.00. Following the completion of the transaction, the chief executive officer now owns 160,912 shares in the company, valued at $2,544,018.72. The disclosure for this purchase can be found here. Insiders have bought a total of 20,100 shares of company stock worth $341,982 in the last ninety days. Insiders own 5.07% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC purchased a new position in BlueLinx in the second quarter worth about $25,000. Tower Research Capital LLC TRC raised its holdings in BlueLinx by 771.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,891 shares of the construction company’s stock worth $37,000 after buying an additional 1,674 shares during the last quarter. Atria Investments LLC purchased a new position in BlueLinx in the second quarter worth about $4,029,000. SG Americas Securities LLC purchased a new position in BlueLinx in the third quarter worth about $151,000. Finally, California Public Employees Retirement System raised its holdings in BlueLinx by 14.2% in the third quarter. California Public Employees Retirement System now owns 12,040 shares of the construction company’s stock worth $389,000 after buying an additional 1,500 shares during the last quarter. 90.96% of the stock is owned by institutional investors.
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.
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