Polar Asset Management Partners Inc. Sells 19,375 Shares of BlueLinx Holdings Inc. $BXC

Polar Asset Management Partners Inc. decreased its position in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 27.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,825 shares of the construction company’s stock after selling 19,375 shares during the period. Polar Asset Management Partners Inc. owned 0.65% of BlueLinx worth $3,714,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BXC. Versant Capital Management Inc increased its stake in shares of BlueLinx by 86.2% in the third quarter. Versant Capital Management Inc now owns 350 shares of the construction company’s stock worth $26,000 after purchasing an additional 162 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of BlueLinx during the 3rd quarter valued at $29,000. Rock Creek Group LP purchased a new position in shares of BlueLinx during the 3rd quarter valued at $37,000. Tower Research Capital LLC TRC boosted its holdings in BlueLinx by 114.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 792 shares of the construction company’s stock worth $59,000 after buying an additional 422 shares during the period. Finally, Comerica Bank increased its stake in BlueLinx by 5,468.2% in the 3rd quarter. Comerica Bank now owns 1,225 shares of the construction company’s stock worth $90,000 after buying an additional 1,203 shares in the last quarter. 90.83% of the stock is currently owned by institutional investors.

BlueLinx Stock Down 2.3%

Shares of BXC stock opened at $46.53 on Friday. The company’s fifty day simple moving average is $68.46 and its two-hundred day simple moving average is $67.98. BlueLinx Holdings Inc. has a 52 week low of $45.93 and a 52 week high of $88.30. The stock has a market cap of $366.15 million, a P/E ratio of -4,652,500.00 and a beta of 1.62. The company has a quick ratio of 3.12, a current ratio of 4.66 and a debt-to-equity ratio of 0.96.

BlueLinx (NYSE:BXC) last issued its quarterly earnings data on Tuesday, February 24th. The construction company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.05). BlueLinx had a net margin of 0.01% and a negative return on equity of 0.23%. The firm had revenue of $715.80 million for the quarter, compared to analysts’ expectations of $703.84 million.

Analysts Set New Price Targets

A number of research firms have commented on BXC. Weiss Ratings reissued a “sell (d)” rating on shares of BlueLinx in a report on Monday, December 29th. Benchmark dropped their price objective on BlueLinx from $83.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $86.00.

BlueLinx Company Profile

BlueLinx Corporation is a leading distributor of building products in the United States, serving professional builders, contractors and industrial customers. The company offers a comprehensive portfolio that includes lumber, engineered wood products, plywood, oriented strand board, siding, railing, millwork and specialty construction materials. Through its nationwide network of distribution centers, BlueLinx provides inventory management, delivery and supply-chain solutions designed to help customers streamline operations and reduce carrying costs.

Founded in 2004 as a spin-off from Georgia-Pacific’s distribution business, BlueLinx has developed a broad product line that spans both residential and commercial construction markets.