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