What Smart Money Thinks of Aceto Corporation (ACET)?

As one would reasonably expect, specific money managers have jumped into Aceto Corporation (NASDAQ:ACET) headfirst. Millennium Management assembled the biggest position in Aceto Corporation (NASDAQ:ACET). Michael Castor’s Sio Capital also initiated a $2.2 million position during the quarter. The following funds were also among the new ACET investors: John Overdeck and David Siegel’s Two Sigma Advisors, Israel Englander’s Millennium Management, and Neil Chriss’ Hutchin Hill Capital.

Let’s go over hedge fund activity in other stocks similar to Aceto Corporation (NASDAQ:ACET). We will take a look at FTD Companies Inc (NASDAQ:FTD), Sodastream International Ltd (NASDAQ:SODA), Schnitzer Steel Industries, Inc. (NASDAQ:SCHN), and AEP Industries (NASDAQ:AEPI). This group of stocks’ market values match ACET’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
FTD 14 50990 2
SODA 16 66834 3
SCHN 14 91577 -1
AEPI 13 141668 1

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 $88 million. That figure was $60 million in ACET’s case. Sodastream International Ltd (NASDAQ:SODA) is the most popular stock in this table. On the other hand AEP Industries (NASDAQ:AEPI) is the least popular one with only 13 bullish hedge fund positions. Compared to these stocks Aceto Corporation (NASDAQ:ACET) is even less popular than AEPI. 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.

Disclosure: None