Seaport Research Partners initates BlueLinx Holdings Inc. (BXC) stock to a Buy


BlueLinx Holdings Inc.’s recently made public that its Director Lewis Mitchell B unloaded Company’s shares for reported $0.15 million on Aug 11. In the deal valued at $83.49 per share,1,740 shares were sold. As a result of this transaction, Lewis Mitchell B now holds 45,087 shares worth roughly $ 4.16 million.

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Then, Lewis Mitchell B sold 12 shares, generating $1,019 in total proceeds. Upon selling the shares at $84.89, the Director now owns 46,827 shares.

Before that, Lewis Mitchell B sold 2,246 shares. BlueLinx Holdings Inc. shares valued at $192,078 were divested by the Director at a price of $85.52 per share. As a result of the transaction, Lewis Mitchell B now holds 46,839 shares, worth roughly $4.33 million.

Seaport Research Partners initiated its BlueLinx Holdings Inc. [BXC] rating to a Buy in a research note published on Friday, July 25, 2022; the price target was $100. PT values the company’s stock at a premium of 7.64 to its Friday closing price.

Price Performance Review of BXC

On Friday, BlueLinx Holdings Inc. [NYSE:BXC] saw its stock jump 3.47% to $92.36. On the same session, the stock had its day’s lowest price of $89.95, but rose to a high of $93.15. Over the last five days, the stock has gained 13.17%. BlueLinx Holdings Inc. shares have risen nearly 29.88% since the year began. Nevertheless, the stocks have risen 31.75% over the past one year. While a 52-week high of $98.33 was reached on 07/19/23, a 52-week low of $57.49 was recorded on 04/06/23. SMA at 50 days reached $89.88, while 200 days put it at $80.56. A total of 88310.0 shares were traded, compared to the trading of 0.14 million shares in the previous session.

Levels Of Support And Resistance For BXC Stock

The 24-hour chart illustrates a support level at 90.49, which if violated will result in even more drops to 88.62. On the upside, there is a resistance level at 93.69. A further resistance level may holdings at 95.02. The Relative Strength Index (RSI) on the 14-day chart is 63.20, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 5.57, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 5.92%. Stochastics %K at 91.38% indicates the stock is a selling.

How much short interest is there in BlueLinx Holdings Inc.?

A steep rise in short interest was recorded in BlueLinx Holdings Inc. stocks on Aug 14, 2023, growing by 15260.0 shares to a total of 0.36 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.35 million shares. There was a rise of 4.23%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 4.10% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.19.

BlueLinx Holdings Inc. [BXC] – Who Are The Largest Shareholders?

In filings from Voss Capital LLC, it is revealed that the company now owns 740,304 shares, or roughly 8.15% of the outstanding BXC shares. In other words, the investor’s shares have fallen by -160,187 from its previous 13-F filing of 900491.0. Additionally, BlackRock Fund Advisors decreased -0.55% of its stake after which the total value it holdings stand at $64,708,294, while Dimensional Fund Advisors LP added 10.62% of its stake to hold $47.5 million in the firm. Over the last quarter, Punch & Associates Investment Man sold -30,027 shares of BlueLinx Holdings Inc., while Tontine Associates LLC sold -64,235 shares. At present, The Vanguard Group, Inc. is holding 457,949 shares valued at $43.16 million. Alan W. Weber owned 393,649 shares of the company at the time of its most recent 13F filing, worth $37.1 million.

According to FactSet, BlueLinx Holdings Inc.’s share price will average $103.75 in the next year, based on opinions of analysts polled by the firm. This is up nearly 17.63 percent from its previous closing price of $89.26. Analysts expect BlueLinx Holdings Inc. stock to reach the higher price of $105.00, while the lowest price estimate is $100.00. However, 4 analysts have rated BXC stock as a Buy in their predictions for 2023.


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