Should You Buy Aceto Corporation (ACET)?

As aggregate interest increased, key money managers have been driving this bullishness. Fisher Asset Management assembled the most valuable position in Aceto Corporation (NASDAQ:ACET). Fisher Asset Management had $4.2 million invested in the company at the end of the quarter. Driehaus Capital also initiated a $3.5 million position during the quarter. The following funds were also among the new ACET investors: Mike Vranos’ Ellington, John Overdeck and David Siegel’s Two Sigma Advisors, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s check out hedge fund activity in other stocks similar to Aceto Corporation (NASDAQ:ACET). These stocks are Hanmi Financial Corp (NASDAQ:HAFC), LHC Group, Inc. (NASDAQ:LHCG), WSFS Financial Corporation (NASDAQ:WSFS), and Amplify Snack Brands Inc (NYSE:BETR). All of these stocks’ market caps are closest to ACET’s market cap.

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $77 million, which is lower than the $48 million figure in ACET’s case. LHC Group, Inc. (NASDAQ:LHCG) is the most popular stock in this table. On the other hand WSFS Financial Corporation (NASDAQ:WSFS) is the least popular one with only 9 bullish hedge fund positions. Aceto Corporation (NASDAQ:ACET) 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 LHCG might be a better candidate to consider a long position.