Compass Diversified (NYSE:CODI) Position Reduced by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its stake in shares of Compass Diversified (NYSE:CODI - Free Report) by 23.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 394,747 shares of the financial services provider's stock after selling 118,036 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.52% of Compass Diversified worth $8,736,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Essex Financial Services Inc. increased its position in shares of Compass Diversified by 45.0% during the second quarter. Essex Financial Services Inc. now owns 1,094,839 shares of the financial services provider's stock worth $23,966,000 after acquiring an additional 339,698 shares during the last quarter. Swedbank AB acquired a new stake in Compass Diversified in the third quarter valued at $3,306,000. Allspring Global Investments Holdings LLC raised its holdings in Compass Diversified by 3.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,257,759 shares of the financial services provider's stock valued at $94,224,000 after acquiring an additional 140,384 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Compass Diversified in the second quarter valued at $2,283,000. Finally, Renaissance Technologies LLC raised its stake in shares of Compass Diversified by 562.8% in the 2nd quarter. Renaissance Technologies LLC now owns 103,400 shares of the financial services provider's stock valued at $2,263,000 after purchasing an additional 87,800 shares in the last quarter. 72.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, TD Cowen initiated coverage on shares of Compass Diversified in a research note on Wednesday, November 27th. They issued a "buy" rating and a $34.00 target price on the stock.

Compass Diversified Stock Performance

Shares of CODI stock traded up $0.04 on Wednesday, hitting $23.99. 316,936 shares of the stock traded hands, compared to its average volume of 205,886. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.22 and a quick ratio of 1.62. The company has a market capitalization of $1.81 billion, a PE ratio of 49.98, a PEG ratio of 1.48 and a beta of 1.66. Compass Diversified has a 1-year low of $19.76 and a 1-year high of $25.07. The company's fifty day moving average is $22.22 and its 200 day moving average is $22.02.

Compass Diversified (NYSE:CODI - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.10. The firm had revenue of $582.62 million for the quarter, compared to analyst estimates of $571.68 million. Compass Diversified had a net margin of 6.24% and a return on equity of 12.25%. Compass Diversified's quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 earnings per share. On average, equities research analysts predict that Compass Diversified will post 1.96 earnings per share for the current fiscal year.

Compass Diversified Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 17th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend was Thursday, October 17th. Compass Diversified's payout ratio is 208.33%.

Insiders Place Their Bets

In other news, major shareholder Cgi Magyar Holdings Llc sold 135,274 shares of the firm's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $23.05, for a total transaction of $3,118,065.70. Following the transaction, the insider now directly owns 7,456,197 shares of the company's stock, valued at approximately $171,865,340.85. This trade represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick A. Maciariello bought 5,000 shares of the stock in a transaction on Friday, September 20th. The shares were bought at an average cost of $21.87 per share, for a total transaction of $109,350.00. Following the purchase, the insider now owns 228,518 shares in the company, valued at $4,997,688.66. This trade represents a 2.24 % increase in their position. The disclosure for this purchase can be found here. 1.76% of the stock is owned by corporate insiders.

Compass Diversified Company Profile

Compass Diversified is a private equity firm specializing in add on acquisitions, buyouts, industry consolidation, recapitalization, late stage and middle market investments. It seeks to invest in niche industrial or branded consumer companies, manufacturing, distribution, consumer products, business services sector, healthcare, safety & security, electronic components, food and foodservice.