Alps Advisors Inc. increased its holdings in Compass Diversified Holdings (NYSE:CODI) by 720.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,200 shares of the financial services provider’s stock after acquiring an additional 99,400 shares during the quarter. Alps Advisors Inc. owned approximately 0.19% of Compass Diversified worth $2,231,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in CODI. Envestnet Asset Management Inc. acquired a new position in Compass Diversified in the 2nd quarter valued at $211,000. LPL Financial LLC increased its stake in Compass Diversified by 28.6% in the 2nd quarter. LPL Financial LLC now owns 81,007 shares of the financial services provider’s stock valued at $1,548,000 after buying an additional 18,027 shares during the period. UBS Group AG increased its stake in Compass Diversified by 7.8% in the 2nd quarter. UBS Group AG now owns 356,622 shares of the financial services provider’s stock valued at $6,815,000 after buying an additional 25,880 shares during the period. Wealthsource Partners LLC acquired a new position in Compass Diversified in the 2nd quarter valued at $429,000. Finally, Phocas Financial Corp. acquired a new position in Compass Diversified in the 2nd quarter valued at $27,000. 30.00% of the stock is currently owned by institutional investors and hedge funds.
CODI has been the topic of several recent research reports. TheStreet raised shares of Compass Diversified from a “c+” rating to a “b-” rating in a research note on Thursday, August 8th. Roth Capital began coverage on shares of Compass Diversified in a research note on Monday, July 29th. They issued a “buy” rating and a $21.50 price objective on the stock. Raymond James downgraded shares of Compass Diversified from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of Compass Diversified from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Monday, November 4th.
CODI opened at $22.24 on Friday. The firm has a 50 day moving average price of $19.89 and a 200 day moving average price of $18.66. The company has a market cap of $1.33 billion, a PE ratio of 15.44 and a beta of 1.12. Compass Diversified Holdings has a 1 year low of $11.60 and a 1 year high of $22.65. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 3.46.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 17th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 6.47%. The ex-dividend date was Wednesday, October 16th. Compass Diversified’s dividend payout ratio (DPR) is presently 100.00%.
About Compass Diversified
Compass Diversified Holdings LLC is a private equity firm specializing in acquisitions, buyouts, industry consolidation, recapitalization, and middle market investments. It seeks to invest in niche industrial or branded consumer companies, manufacturing, distribution, consumer products, business services sector, safety & security, electronic components, food, foodservice.
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