Investment analysts at TD Cowen started coverage on shares of Compass Diversified (NYSE:CODI - Get Free Report) in a research note issued on Wednesday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $34.00 price target on the financial services provider's stock. TD Cowen's price objective indicates a potential upside of 43.40% from the company's current price.
Compass Diversified Trading Up 0.7 %
CODI traded up $0.16 during trading on Wednesday, reaching $23.71. The company had a trading volume of 171,352 shares, compared to its average volume of 204,833. Compass Diversified has a 52 week low of $19.76 and a 52 week high of $25.07. The stock has a market cap of $1.79 billion, a P/E ratio of 49.05, a PEG ratio of 1.52 and a beta of 1.67. The company has a quick ratio of 1.62, a current ratio of 4.22 and a debt-to-equity ratio of 1.51. The business has a 50 day simple moving average of $21.87 and a 200-day simple moving average of $21.92.
Compass Diversified (NYSE:CODI - Get Free Report) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.10. Compass Diversified had a return on equity of 12.25% and a net margin of 6.24%. The business had revenue of $582.62 million during the quarter, compared to analyst estimates of $571.68 million. During the same quarter in the previous year, the business earned $0.34 earnings per share. The company's revenue for the quarter was up 11.8% compared to the same quarter last year. On average, equities analysts anticipate that Compass Diversified will post 1.95 EPS for the current fiscal year.
Insider Buying and Selling
In related news, insider Patrick A. Maciariello acquired 5,000 shares of the firm's stock in a transaction on Friday, September 20th. The shares were acquired at an average cost of $21.87 per share, with a total value of $109,350.00. Following the completion of the acquisition, the insider now directly owns 228,518 shares in the company, valued at approximately $4,997,688.66. This trade represents a 2.24 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Cgi Magyar Holdings Llc sold 135,274 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 7,456,197 shares of the company's stock, valued at $171,865,340.85. This represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. 1.76% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Compass Diversified
A number of hedge funds have recently made changes to their positions in the company. Essex Financial Services Inc. raised its stake in Compass Diversified by 45.0% in the 2nd quarter. Essex Financial Services Inc. now owns 1,094,839 shares of the financial services provider's stock valued at $23,966,000 after purchasing an additional 339,698 shares during the last quarter. FMR LLC boosted its position in Compass Diversified by 115.0% during the third quarter. FMR LLC now owns 283,777 shares of the financial services provider's stock worth $6,280,000 after acquiring an additional 151,783 shares during the last quarter. Swedbank AB purchased a new position in shares of Compass Diversified during the 3rd quarter worth $3,306,000. Allspring Global Investments Holdings LLC grew its stake in shares of Compass Diversified by 3.4% in the 3rd 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 buying an additional 140,384 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Compass Diversified in the 2nd quarter valued at approximately $2,283,000. Institutional investors and hedge funds own 72.73% of the company's stock.
About Compass Diversified
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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.
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