Should You Buy Logitech International SA (USA) (LOGI)?

As one would reasonably expect, specific money managers have jumped into Logitech International SA (USA) (NASDAQ:LOGI) headfirst. PDT Partners, led by Peter Muller, established the most valuable position in Logitech International SA (USA) (NASDAQ:LOGI). PDT Partners had $4.4 million invested in the company at the end of the quarter. Neil Chriss’s Hutchin Hill Capital also initiated a $0.4 million position during the quarter. The other funds with brand new LOGI positions are David Costen Haley’s HBK Investments, Charles Davidson’s Wexford Capital, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s also examine hedge fund activity in other stocks similar to Logitech International SA (USA) (NASDAQ:LOGI). These stocks are ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD), Emcor Group Inc (NYSE:EME), Nu Skin Enterprises, Inc. (NYSE:NUS), and Lancaster Colony Corp. (NASDAQ:LANC). This group of stocks’ market caps are similar to LOGI’s market cap.

As you can see these stocks had an average of 20.5 hedge funds with bullish positions and the average amount invested in these stocks was $408 million. That figure was $68 million in LOGI’s case. ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) is the most popular stock in this table. On the other hand Lancaster Colony Corp. (NASDAQ:LANC) is the least popular one with only 14 bullish hedge fund positions. Compared to these stocks Logitech International SA (USA) (NASDAQ:LOGI) is even less popular than LANC. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.

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