Longboard Asset Management LP Invests $216,000 in DXP Enterprises, Inc. (NASDAQ:DXPE)

Longboard Asset Management LP acquired a new position in shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,617 shares of the industrial products company's stock, valued at approximately $216,000.

A number of other hedge funds also recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in shares of DXP Enterprises during the third quarter worth about $197,000. Assenagon Asset Management S.A. increased its position in shares of DXP Enterprises by 39.2% during the third quarter. Assenagon Asset Management S.A. now owns 52,858 shares of the industrial products company's stock worth $2,821,000 after buying an additional 14,886 shares during the period. CWA Asset Management Group LLC bought a new position in shares of DXP Enterprises in the 3rd quarter worth about $1,107,000. Pacer Advisors Inc. increased its holdings in DXP Enterprises by 4.1% in the third quarter. Pacer Advisors Inc. now owns 744,587 shares of the industrial products company's stock worth $39,731,000 after purchasing an additional 29,131 shares in the last quarter. Finally, FMR LLC lifted its position in shares of DXP Enterprises by 21.8% during the 3rd quarter. FMR LLC now owns 776,950 shares of the industrial products company's stock valued at $41,458,000 after acquiring an additional 139,027 shares during the period. 74.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at DXP Enterprises

In other DXP Enterprises news, insider Christopher T. Gregory sold 1,000 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $73.10, for a total value of $73,100.00. Following the sale, the insider now owns 29,606 shares of the company's stock, valued at $2,164,198.60. This trade represents a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 22.40% of the company's stock.

Analyst Upgrades and Downgrades

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

DXP Enterprises Stock Performance

Shares of NASDAQ:DXPE traded down $3.91 during mid-day trading on Friday, reaching $99.93. The company had a trading volume of 189,930 shares, compared to its average volume of 319,363. DXP Enterprises, Inc. has a one year low of $32.57 and a one year high of $107.06. The company has a current ratio of 2.22, a quick ratio of 1.78 and a debt-to-equity ratio of 1.29. The company's 50-day moving average price is $88.25 and its 200-day moving average price is $66.42. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 25.76 and a beta of 1.67.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The industrial products company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.48. The company had revenue of $472.94 million for the quarter. DXP Enterprises had a net margin of 3.75% and a return on equity of 18.74%. During the same quarter in the previous year, the company posted $0.93 earnings per share. As a group, equities research analysts anticipate that DXP Enterprises, Inc. will post 4.07 EPS for the current fiscal year.

DXP Enterprises Profile

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).