Here is What Hedge Funds Think About Exactech, Inc. (EXAC)

As one would reasonably expect, key money managers have been driving this bullishness. Millennium Management, led by Israel Englander, assembled the largest position in Exactech, Inc. (NASDAQ:EXAC). Millennium Management had $0.5 million invested in the company at the end of the quarter. Chao Ku’s Nine Chapters Capital Management also initiated a $0.2 million position during the quarter.

Let’s also examine hedge fund activity in other stocks similar to Exactech, Inc. (NASDAQ:EXAC). We will take a look at IES Holdings Inc (NASDAQ:IESC), OMNOVA Solutions Inc. (NYSE:OMN), Applied Optoelectronics Inc (NASDAQ:AAOI), and Almost Family, Inc. (NASDAQ:AFAM). All of these stocks’ market caps are closest to EXAC’s market cap.

As you can see these stocks had an average of 13.5 hedge funds with bullish positions and the average amount invested in these stocks was $107 million. That figure was $36 million in EXAC’s case. OMNOVA Solutions Inc. (NYSE:OMN) is the most popular stock in this table. On the other hand IES Holdings Inc (NASDAQ:IESC) is the least popular one with only 6 bullish hedge fund positions. Exactech, Inc. (NASDAQ:EXAC) 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 OMN might be a better candidate to consider taking a long position in.

Disclosure: None