Hedge Funds Are Dumping DXP Enterprises Inc (DXPE)

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DXP Enterprises Inc (NASDAQ:DXPE) has seen a decrease in support from the world’s most elite money managers recently.

According to most market participants, hedge funds are perceived as worthless, old investment tools of yesteryear. While there are over 8000 funds with their doors open today, we at Insider Monkey hone in on the elite of this club, about 450 funds. It is estimated that this group controls the majority of the hedge fund industry’s total capital, and by keeping an eye on their highest performing equity investments, we have figured out a few investment strategies that have historically outperformed the broader indices. Our small-cap hedge fund strategy outpaced the S&P 500 index by 18 percentage points annually for a decade in our back tests, and since we’ve started sharing our picks with our subscribers at the end of August 2012, we have outpaced the S&P 500 index by 24 percentage points in 7 months (explore the details and some picks here).

DXP Enterprises Inc (NASDAQ:DXPE)

Equally as beneficial, bullish insider trading activity is a second way to parse down the financial markets. As the old adage goes: there are plenty of motivations for an executive to sell shares of his or her company, but just one, very clear reason why they would behave bullishly. Plenty of academic studies have demonstrated the useful potential of this method if “monkeys” understand where to look (learn more here).

Now, it’s important to take a glance at the latest action regarding DXP Enterprises Inc (NASDAQ:DXPE).

How have hedgies been trading DXP Enterprises Inc (NASDAQ:DXPE)?

In preparation for this year, a total of 4 of the hedge funds we track were long in this stock, a change of -33% from one quarter earlier. With hedgies’ sentiment swirling, there exists a select group of noteworthy hedge fund managers who were increasing their stakes considerably.

Due to the fact that DXP Enterprises Inc (NASDAQ:DXPE) has witnessed bearish sentiment from hedge fund managers, it’s easy to see that there exists a select few money managers that decided to sell off their entire stakes last quarter. At the top of the heap, Louis Navellier’s Navellier & Associates sold off the biggest position of all the hedgies we key on, valued at close to $1.5 million in stock., and Peter Algert and Kevin Coldiron of Algert Coldiron Investors was right behind this move, as the fund dropped about $0.5 million worth. These moves are interesting, as total hedge fund interest dropped by 2 funds last quarter.

Insider trading activity in DXP Enterprises Inc (NASDAQ:DXPE)

Insider buying is at its handiest when the company in question has seen transactions within the past six months. Over the last six-month time period, DXP Enterprises Inc (NASDAQ:DXPE) has seen zero unique insiders purchasing, and 4 insider sales (see the details of insider trades here).

Let’s check out hedge fund and insider activity in other stocks similar to DXP Enterprises Inc (NASDAQ:DXPE). These stocks are Applied Industrial Technologies (NYSE:AIT), Newport Corporation (NASDAQ:NEWP), Susser Petroleum Partners LP (NYSE:SUSP), Wesco Aircraft Holdings Inc (NYSE:WAIR), and RTI International Metals, Inc. (NYSE:RTI). This group of stocks are in the industrial equipment wholesale industry and their market caps match DXPE’s market cap.

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