DXP Enterprises, Inc. (NASDAQ:DXPE) Short Interest Update

DXP Enterprises, Inc. (NASDAQ:DXPE) was the target of a large growth in short interest in July. As of July 31st, there was short interest totalling 949,600 shares, a growth of 5.8% from the July 15th total of 897,800 shares. Currently, 7.3% of the company’s shares are sold short. Based on an average daily volume of 141,200 shares, the days-to-cover ratio is currently 6.7 days.

DXP Enterprises Stock Performance

Shares of DXPE traded down $0.13 on Tuesday, reaching $50.85. The company’s stock had a trading volume of 3,832 shares, compared to its average volume of 106,625. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.69 and a quick ratio of 2.22. DXP Enterprises has a 12-month low of $28.82 and a 12-month high of $57.38. The stock has a market capitalization of $809.94 million, a P/E ratio of 14.16 and a beta of 1.60. The stock’s 50 day simple moving average is $48.38 and its two-hundred day simple moving average is $47.26.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of DXP Enterprises from a “strong-buy” rating to a “buy” rating in a report on Friday, May 10th.

Insiders Place Their Bets

In other news, CMO Paz Maestas sold 2,500 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.00, for a total value of $122,500.00. Following the sale, the chief marketing officer now directly owns 619,367 shares of the company’s stock, valued at approximately $30,348,983. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 22.10% of the company’s stock.

Hedge Funds Weigh In On DXP Enterprises

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quest Partners LLC grew its stake in shares of DXP Enterprises by 24.8% during the 2nd quarter. Quest Partners LLC now owns 2,109 shares of the industrial products company’s stock valued at $97,000 after acquiring an additional 419 shares during the period. Innealta Capital LLC purchased a new stake in shares of DXP Enterprises in the second quarter worth $29,000. Federated Hermes Inc. raised its position in shares of DXP Enterprises by 8.8% during the 2nd quarter. Federated Hermes Inc. now owns 10,962 shares of the industrial products company’s stock valued at $502,000 after purchasing an additional 888 shares during the period. New York State Teachers Retirement System lifted its stake in shares of DXP Enterprises by 19.9% during the 1st quarter. New York State Teachers Retirement System now owns 5,851 shares of the industrial products company’s stock valued at $314,000 after buying an additional 973 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of DXP Enterprises by 39.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,113 shares of the industrial products company’s stock valued at $189,000 after acquiring an additional 1,174 shares in the last quarter. 74.82% of the stock is currently owned by hedge funds and other institutional investors.

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).