Denali Advisors LLC Invests $1.02 Million in DXP Enterprises, Inc. (NASDAQ:DXPE)

Denali Advisors LLC acquired a new position in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) during the 4th quarter, Holdings Channel reports. The fund acquired 12,340 shares of the industrial products company’s stock, valued at approximately $1,020,000.

Several other hedge funds have also recently bought and sold shares of the stock. Global Retirement Partners LLC boosted its position in DXP Enterprises by 2,220.0% during the 4th quarter. Global Retirement Partners LLC now owns 348 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 333 shares during the last quarter. Quantbot Technologies LP bought a new stake in DXP Enterprises during the third quarter worth $41,000. Longboard Asset Management LP acquired a new stake in shares of DXP Enterprises in the fourth quarter valued at approximately $216,000. Savant Capital LLC bought a new position in DXP Enterprises during the fourth quarter worth $230,000. Finally, Jane Street Group LLC grew its position in shares of DXP Enterprises by 9.6% in the third quarter. Jane Street Group LLC now owns 5,915 shares of the industrial products company’s stock valued at $316,000 after purchasing an additional 517 shares during the last quarter. 74.82% of the stock is currently owned by institutional investors and hedge funds.

DXP Enterprises Stock Performance

Shares of NASDAQ:DXPE opened at $91.05 on Thursday. DXP Enterprises, Inc. has a 1 year low of $34.99 and a 1 year high of $107.06. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 23.47 and a beta of 1.67. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.22 and a quick ratio of 1.78. The company’s 50 day simple moving average is $93.66 and its 200 day simple moving average is $70.95.

Insider Activity

In other news, insider Christopher T. Gregory sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $73.10, for a total value of $73,100.00. Following the sale, the insider now directly owns 29,606 shares in the company, valued at approximately $2,164,198.60. This trade represents a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 22.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on DXPE shares. Stephens lifted their price target on shares of DXP Enterprises from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. StockNews.com downgraded DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, December 20th.

About DXP Enterprises

DXP Enterprises, Inc, together with its subsidiaries, engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services in the United States and Canada. It operates through three segments: Service Centers (SC), Supply Chain Services (SCS), and Innovative Pumping Solutions (IPS).