Compass Diversified (NYSE:CODI) Trading Up 4.9% – Here’s Why

Compass Diversified (NYSE:CODI) shot up 4.9% during trading on Friday . The company traded as high as $20.65 and last traded at $21.10. 40,538 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 189,092 shares. The stock had previously closed at $20.12.

Analyst Ratings Changes

CODI has been the subject of a number of research reports. TD Cowen initiated coverage on Compass Diversified in a report on Wednesday, November 27th. They set a “buy” rating and a $34.00 target price for the company. B. Riley upgraded shares of Compass Diversified to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, William Blair restated an “outperform” rating on shares of Compass Diversified in a research report on Friday. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $29.00.

Compass Diversified Trading Up 8.8 %

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 $1.66 billion, a price-to-earnings ratio of 45.62, a price-to-earnings-growth ratio of 1.25 and a beta of 1.64. The firm has a fifty day moving average price of $21.55 and a 200-day moving average price of $21.86.

Compass Diversified Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 23rd. Shareholders of record on Thursday, January 16th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, January 16th. This represents a $1.00 dividend on an annualized basis and a yield of 4.57%. Compass Diversified’s payout ratio is 208.33%.

Hedge Funds Weigh In On Compass Diversified

Several hedge funds and other institutional investors have recently made changes to their positions in CODI. Promus Capital LLC bought a new position in Compass Diversified in the fourth quarter valued at approximately $30,000. Millstone Evans Group LLC acquired a new stake in shares of Compass Diversified in the 4th quarter valued at $32,000. BankPlus Trust Department bought a new position in shares of Compass Diversified in the 4th quarter valued at $43,000. Sterling Capital Management LLC raised its holdings in shares of Compass Diversified by 827.4% during the 4th quarter. Sterling Capital Management LLC now owns 2,133 shares of the financial services provider’s stock worth $49,000 after buying an additional 1,903 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Compass Diversified by 273.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,219 shares of the financial services provider’s stock worth $49,000 after buying an additional 1,625 shares during the last quarter. 72.73% of the stock is currently owned by institutional investors and hedge funds.

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.