Fmr LLC Has $6.28 Million Position in Compass Diversified (NYSE:CODI)

Fmr LLC increased its holdings in shares of Compass Diversified (NYSE:CODI) by 115.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 283,777 shares of the financial services provider’s stock after purchasing an additional 151,783 shares during the period. Fmr LLC’s holdings in Compass Diversified were worth $6,280,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CODI. D.A. Davidson & CO. lifted its holdings in shares of Compass Diversified by 1.1% during the third quarter. D.A. Davidson & CO. now owns 78,296 shares of the financial services provider’s stock worth $1,733,000 after buying an additional 817 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Compass Diversified during the third quarter worth $309,000. Swedbank AB acquired a new position in Compass Diversified during the 3rd quarter valued at $3,306,000. Intech Investment Management LLC bought a new stake in Compass Diversified in the 3rd quarter valued at $219,000. Finally, Quest Partners LLC grew its position in Compass Diversified by 245.7% in the 3rd quarter. Quest Partners LLC now owns 7,440 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 5,288 shares during the last quarter. Institutional investors own 72.73% of the company’s stock.

Insider Buying and Selling at Compass Diversified

In other news, insider Patrick A. Maciariello bought 5,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was bought at an average price of $21.87 per share, for a total transaction of $109,350.00. Following the completion of the purchase, the insider now owns 228,518 shares of the company’s stock, valued at approximately $4,997,688.66. The trade was 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 hyperlink. Also, major shareholder Cgi Magyar Holdings Llc sold 135,274 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $23.05, for a total value of $3,118,065.70. Following the sale, the insider now owns 7,456,197 shares in the company, valued at approximately $171,865,340.85. This trade represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, TD Cowen began 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 for the company.

Compass Diversified Stock Performance

Shares of NYSE CODI opened at $23.75 on Friday. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 49.48, a PEG ratio of 1.48 and a beta of 1.66. Compass Diversified has a one year low of $19.76 and a one year high of $25.07. The business has a fifty day simple moving average of $22.26 and a 200 day simple moving average of $22.04. The company has a current ratio of 4.22, a quick ratio of 1.62 and a debt-to-equity ratio of 1.51.

Compass Diversified (NYSE:CODI) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.10. The company had revenue of $582.62 million during the quarter, compared to analysts’ expectations of $571.68 million. Compass Diversified had a net margin of 6.24% and a return on equity of 12.25%. The business’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 EPS. Sell-side analysts expect that Compass Diversified will post 1.96 EPS for the current year.

Compass Diversified Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 17th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, October 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.21%. Compass Diversified’s payout ratio is presently 208.33%.

About Compass Diversified

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.