Compass Diversified (NYSE:CODI) Trading Down 6.8%

Shares of Compass Diversified (NYSE:CODI) dropped 6.8% on Thursday . The company traded as low as $20.54 and last traded at $21.03. Approximately 98,839 shares changed hands during trading, a decline of 52% from the average daily volume of 204,321 shares. The stock had previously closed at $22.57.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Bank of America boosted their target price on shares of Compass Diversified from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. William Blair restated an “outperform” rating on shares of Compass Diversified in a research report on Thursday. Finally, Oppenheimer lifted their price target on Compass Diversified from $21.00 to $23.00 and gave the company a “market perform” rating in a research note on Tuesday, March 5th.

Compass Diversified Stock Performance

The firm has a market cap of $1.63 billion, a PE ratio of 127.54 and a beta of 1.72. The firm has a 50-day moving average price of $23.31 and a two-hundred day moving average price of $21.71. The company has a quick ratio of 2.76, a current ratio of 5.13 and a debt-to-equity ratio of 1.37.

Compass Diversified (NYSE:CODI) last announced its quarterly earnings results on Wednesday, February 28th. The financial services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.09). The firm had revenue of $566.99 million for the quarter, compared to analyst estimates of $581.07 million. Compass Diversified had a net margin of 4.61% and a return on equity of 11.84%. Research analysts forecast that Compass Diversified will post 1.93 EPS for the current fiscal year.

Compass Diversified Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Thursday, April 18th were paid a $0.25 dividend. The ex-dividend date was Wednesday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 4.61%. Compass Diversified’s dividend payout ratio (DPR) is 588.27%.

Insider Buying and Selling at Compass Diversified

In related news, major shareholder Cgi Magyar Holdings Llc sold 7,510 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $24.92, for a total value of $187,149.20. Following the completion of the transaction, the insider now directly owns 7,991,471 shares of the company’s stock, valued at $199,147,457.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.76% of the company’s stock.

Institutional Trading of Compass Diversified

A number of hedge funds have recently added to or reduced their stakes in CODI. Allspring Global Investments Holdings LLC raised its stake in shares of Compass Diversified by 21,508.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,690,210 shares of the financial services provider’s stock worth $82,845,000 after purchasing an additional 3,673,132 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Compass Diversified by 8.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,633,222 shares of the financial services provider’s stock worth $36,666,000 after buying an additional 126,072 shares during the last quarter. Blair William & Co. IL lifted its stake in shares of Compass Diversified by 12.2% in the 3rd quarter. Blair William & Co. IL now owns 723,211 shares of the financial services provider’s stock worth $13,575,000 after acquiring an additional 78,397 shares during the period. UBS Group AG lifted its stake in shares of Compass Diversified by 11.1% in the 4th quarter. UBS Group AG now owns 708,786 shares of the financial services provider’s stock worth $15,912,000 after acquiring an additional 71,075 shares during the period. Finally, Navellier & Associates Inc. purchased a new stake in shares of Compass Diversified in the third quarter valued at about $1,239,000. 72.73% of the stock is owned by institutional investors and hedge funds.

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.