DXP Enterprises (NASDAQ:DXPE) Stock Price Down 9.5% – Should You Sell?

DXP Enterprises, Inc. (NASDAQ:DXPE)’s stock price dropped 9.5% on Thursday . The company traded as low as $94.41 and last traded at $93.17. Approximately 69,039 shares changed hands during trading, a decline of 75% from the average daily volume of 279,410 shares. The stock had previously closed at $102.91.

Analyst Upgrades and Downgrades

DXPE has been the subject of a number of research reports. Stephens raised their target price on shares of DXP Enterprises from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. StockNews.com cut shares of DXP Enterprises from a “buy” rating to a “hold” rating in a report on Friday, December 20th.

DXP Enterprises Trading Down 7.5 %

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 firm has a market cap of $1.49 billion, a PE ratio of 24.56 and a beta of 1.67. The company’s 50-day moving average is $92.84 and its 200 day moving average is $69.63.

Insider Activity at DXP Enterprises

In related news, insider Christopher T. Gregory sold 1,000 shares of the company’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 completion of the sale, the insider now owns 29,606 shares in the company, valued at approximately $2,164,198.60. This represents a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.40% of the stock is owned by insiders.

Institutional Investors Weigh In On DXP Enterprises

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DXPE. Global Retirement Partners LLC lifted its position in DXP Enterprises by 2,220.0% in the 4th quarter. Global Retirement Partners LLC now owns 348 shares of the industrial products company’s stock worth $29,000 after buying an additional 333 shares in the last quarter. Quantbot Technologies LP purchased a new stake in DXP Enterprises in the 3rd quarter worth approximately $41,000. Smartleaf Asset Management LLC lifted its position in DXP Enterprises by 3,150.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 520 shares of the industrial products company’s stock worth $43,000 after buying an additional 504 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of DXP Enterprises during the 4th quarter valued at $159,000. Finally, SG Americas Securities LLC bought a new position in shares of DXP Enterprises during the 3rd quarter valued at $197,000. Hedge funds and other institutional investors own 74.82% of the company’s stock.

DXP Enterprises Company 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).