DXP Enterprises Inc (DXPE) Hedge Funds Are Snapping Up

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Consequently, some big names have been driving this bullishness. Millennium Management,, initiated the largest position in DXP Enterprises Inc (NASDAQ:DXPE). Millennium Management had $2.3 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also made a $1.2 million investment in the stock during the quarter. The other funds with new positions in the stock are John Overdeck and David Siegel’s Two Sigma Advisors and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as DXP Enterprises Inc (NASDAQ:DXPE) but similarly valued. These stocks are AAC Holdings Inc (NYSE:AAC), Genesis Healthcare Inc (NYSE:GEN), YRC Worldwide, Inc. (NASDAQ:YRCW), and Blue Hills Bancorp Inc (NASDAQ:BHBK). All of these stocks’ market caps are closest to DXPE’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
AAC 6 46564 -1
GEN 5 2172 -1
YRCW 19 112255 -1
BHBK 14 48076 -2

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $52 million. That figure was $55 million in DXPE’s case. YRC Worldwide, Inc. (NASDAQ:YRCW) is the most popular stock in this table. On the other hand Genesis Healthcare Inc (NYSE:GEN) is the least popular one with only 5 bullish hedge fund positions. DXP Enterprises Inc (NASDAQ:DXPE) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard YRCW might be a better candidate to consider taking a long position in.

Disclosure: none

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