Compass Diversified (NYSE:CODI) Shares Down 6.8%

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. William Blair restated an “outperform” rating on shares of Compass Diversified in a research report on Thursday. Bank of America raised their price objective on shares of Compass Diversified from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Finally, Oppenheimer raised their target price on shares of 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 Price Performance

The business’s 50 day moving average is $23.34 and its two-hundred day moving average is $21.72. The firm has a market capitalization of $1.59 billion, a PE ratio of 9.16 and a beta of 1.72. The company has a debt-to-equity ratio of 1.37, a current ratio of 5.13 and a quick ratio of 2.76.

Compass Diversified (NYSE:CODI) last announced its earnings results on Wednesday, February 28th. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.09). The company had revenue of $566.99 million during the quarter, compared to analysts’ expectations of $581.07 million. Compass Diversified had a net margin of 9.43% and a return on equity of 11.93%. As a group, research analysts anticipate that Compass Diversified will post 1.93 EPS for the current year.

Compass Diversified Announces Dividend

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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend was Wednesday, April 17th. Compass Diversified’s dividend payout ratio (DPR) is presently 43.29%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. boosted its holdings in Compass Diversified by 0.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 144,094 shares of the financial services provider’s stock valued at $3,468,000 after acquiring an additional 714 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Compass Diversified by 0.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 206,212 shares of the financial services provider’s stock worth $3,871,000 after purchasing an additional 779 shares during the last quarter. Swiss National Bank raised its position in shares of Compass Diversified by 0.6% in the 3rd quarter. Swiss National Bank now owns 142,300 shares of the financial services provider’s stock worth $2,671,000 after purchasing an additional 800 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Compass Diversified by 24.5% in the 4th quarter. Van ECK Associates Corp now owns 5,118 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 1,008 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in shares of Compass Diversified by 4.0% in the 4th quarter. New York State Common Retirement Fund now owns 27,049 shares of the financial services provider’s stock worth $607,000 after purchasing an additional 1,033 shares during the last quarter. 72.73% of the stock is owned by hedge funds and other institutional investors.

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.