JPMorgan Chase & Co. trimmed its holdings in shares of Compass Diversified (NYSE:CODI - Free Report) by 19.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,517 shares of the financial services provider's stock after selling 22,365 shares during the period. JPMorgan Chase & Co. owned about 0.12% of Compass Diversified worth $2,047,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the stock. Essex Financial Services Inc. grew its holdings in shares of Compass Diversified by 20.2% during the third quarter. Essex Financial Services Inc. now owns 1,302,174 shares of the financial services provider's stock worth $27,372,000 after buying an additional 218,394 shares in 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 stake in Compass Diversified in the 3rd quarter worth approximately $3,306,000. Allspring Global Investments Holdings LLC raised its holdings in 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 acquiring an additional 140,384 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Compass Diversified during the 2nd quarter worth $2,283,000. 72.73% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages have recently commented on CODI. B. Riley raised Compass Diversified to a "strong-buy" rating in a research report on Tuesday, January 7th. TD Cowen initiated coverage on Compass Diversified in a report on Wednesday, November 27th. They issued a "buy" rating and a $34.00 price target for the company. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $29.00.
Read Our Latest Report on CODI
Insider Transactions at Compass Diversified
In related news, major shareholder Cgi Magyar Holdings Llc sold 135,274 shares of the business's stock in a transaction that occurred 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. The trade was a 1.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.76% of the company's stock.
Compass Diversified Trading Down 0.1 %
Shares of CODI stock traded down $0.02 on Wednesday, reaching $21.35. 311,001 shares of the stock were exchanged, compared to its average volume of 195,831. 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 stock has a market cap of $1.62 billion, a P/E ratio of 44.48, a price-to-earnings-growth ratio of 1.25 and a beta of 1.65. The firm has a 50 day moving average of $22.92 and a two-hundred day moving average of $22.13. Compass Diversified has a 1-year low of $19.76 and a 1-year high of $25.07.
Compass Diversified (NYSE:CODI - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.10. Compass Diversified had a return on equity of 12.25% and a net margin of 6.24%. The company had revenue of $582.62 million for the quarter, compared to the consensus estimate of $571.68 million. During the same period last year, the business posted $0.34 EPS. The company's quarterly revenue was up 11.8% compared to the same quarter last year. On average, research analysts anticipate that Compass Diversified will post 1.96 EPS for the current year.
Compass Diversified Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Thursday, January 16th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $1.00 annualized dividend and a yield of 4.68%. Compass Diversified's dividend payout ratio is currently 208.33%.
Compass Diversified Company Profile
(
Free Report)
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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