Compass Diversified (NYSE:CODI) Coverage Initiated at TD Cowen

TD Cowen started coverage on shares of Compass Diversified (NYSE:CODI) in a research report released on Wednesday, Marketbeat.com reports. The firm issued a buy rating and a $34.00 price objective on the financial services provider’s stock.

Compass Diversified Stock Performance

NYSE CODI opened at $23.64 on Wednesday. Compass Diversified has a 52-week low of $19.76 and a 52-week high of $25.07. The company has a 50-day simple moving average of $21.91 and a 200 day simple moving average of $21.93. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.62 and a current ratio of 4.22. The company has a market capitalization of $1.79 billion, a PE ratio of 49.25, a price-to-earnings-growth ratio of 1.52 and a beta of 1.67.

Compass Diversified (NYSE:CODI) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.10. Compass Diversified had a net margin of 6.24% and a return on equity of 12.25%. The business had revenue of $582.62 million during the quarter, compared to the consensus estimate of $571.68 million. During the same quarter last year, the company posted $0.34 earnings per share. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, research analysts predict that Compass Diversified will post 1.95 EPS for the current year.

Compass Diversified Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 17th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, October 17th. This represents a $1.00 annualized dividend and a dividend yield of 4.23%. Compass Diversified’s payout ratio is 208.33%.

Insider Transactions at Compass Diversified

In other news, insider Patrick A. Maciariello acquired 5,000 shares of Compass Diversified stock in a transaction that occurred on Friday, September 20th. The stock was bought at an average price of $21.87 per share, with a total value of $109,350.00. Following the completion of the purchase, the insider now owns 228,518 shares in the company, valued at approximately $4,997,688.66. The trade was a 2.24 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, 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 that occurred on Monday, November 11th. The shares were 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 represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Compass Diversified

Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in Compass Diversified by 14.0% during the second quarter. Bank of New York Mellon Corp now owns 240,161 shares of the financial services provider’s stock valued at $5,257,000 after acquiring an additional 29,580 shares in the last quarter. Sei Investments Co. lifted its position in Compass Diversified by 9.2% during the second quarter. Sei Investments Co. now owns 703,142 shares of the financial services provider’s stock valued at $15,392,000 after purchasing an additional 59,172 shares during the last quarter. Essex Financial Services Inc. lifted its position in 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 valued at $27,372,000 after purchasing an additional 218,394 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Compass Diversified during the third quarter valued at approximately $1,058,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Compass Diversified by 3.4% during 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 purchasing an additional 140,384 shares during the last quarter. Hedge funds and other institutional investors own 72.73% of the company’s stock.

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.