What Do Hedge Funds Think Of DXP Enterprises Inc (DXPE)?

Because DXP Enterprises Inc (NASDAQ:DXPE) has experienced bearish sentiment from the aggregate hedge fund industry, we can see that there lies a certain “tier” of money managers who were dropping their positions entirely last quarter. Interestingly, D E Shaw dropped the largest investment of the 700 funds followed by Insider Monkey, worth close to $1.2 million in stock. Neil Chriss’s fund, Hutchin Hill Capital, also said goodbye to its stock, about $0.9 million worth. These bearish behaviors are important to note, as aggregate hedge fund interest was cut by 2 funds last quarter.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as DXP Enterprises Inc (NASDAQ:DXPE) but similarly valued. These stocks are Varonis Systems Inc (NASDAQ:VRNS), Casa Therapeutics Inc (NASDAQ:CARA), Agenus Inc (NASDAQ:AGEN), and Rockwell Medical Inc (NASDAQ:RMTI). All of these stocks’ market caps are closest to DXPE’s market cap.

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 $40 million. That figure was $32 million in DXPE’s case. Agenus Inc (NASDAQ:AGEN) is the most popular stock in this table. On the other hand Varonis Systems Inc (NASDAQ:VRNS) is the least popular one with only 4 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 AGEN might be a better candidate to consider a long position.