Is II-VI, Inc. (IIVI) a Good Stock To Buy?

As industrywide interest jumped, some big names have been driving this bullishness. Quentec Asset Management, led by Ken Hahn, assembled the most valuable position in II-VI, Inc. (NASDAQ:IIVI). Quentec Asset Management had $3.2 million invested in the company at the end of the quarter. Joe Huber’s Huber Capital Management also initiated a $0.6 million position during the quarter. The following funds were also among the new IIVI investors: Philip Hempleman’s Ardsley Partners, Joel Greenblatt’s Gotham Asset Management, and Robert B. Gillam’s McKinley Capital Management.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as II-VI, Inc. (NASDAQ:IIVI) but similarly valued. We will take a look at Tutor Perini Corp (NYSE:TPC), Summit Hotel Properties Inc (NYSE:INN), Evolent Health Inc (NYSE:EVH), and Kaman Corporation (NYSE:KAMN). This group of stocks’ market caps are similar to IIVI’s market cap.

As you can see these stocks had an average of 12 funds with bullish positions at the end of September and the average amount invested in these stocks was $102 million, compared to $92 million in IIVI’s case. Evolent Health Inc (NYSE:EVH) is the most popular stock in this table. On the other hand Summit Hotel Properties Inc (NYSE:INN) is the least popular one with only nine investors holding shares. Compared to these stocks II-VI, Inc. (NASDAQ:IIVI) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.