Compass Diversified (NYSE:CODI) Shares Down 6.8%

Shares of Compass Diversified (NYSE:CODI) fell 6.8% during mid-day trading on Thursday . The company traded as low as $20.54 and last traded at $21.03. 98,839 shares changed 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.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CODI. Bank of America increased their price objective on Compass Diversified from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Oppenheimer increased their price objective on Compass Diversified from $21.00 to $23.00 and gave the stock a “market perform” rating in a report on Tuesday, March 5th. Finally, William Blair reissued an “outperform” rating on shares of Compass Diversified in a report on Thursday.

Compass Diversified Trading Down 6.5 %

The business has a 50 day simple moving average of $23.34 and a 200-day simple moving average of $21.72. The company has a debt-to-equity ratio of 1.37, a quick ratio of 2.76 and a current ratio of 5.13. The stock has a market capitalization of $1.59 billion, a P/E ratio of 9.16 and a beta of 1.72.

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

Compass Diversified Announces Dividend

The company 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 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date was Wednesday, April 17th. Compass Diversified’s payout ratio is currently 43.29%.

Insider Activity

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

Institutional Trading of Compass Diversified

Hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC increased its stake in shares of Compass Diversified by 1.3% in the first quarter. Janney Montgomery Scott LLC now owns 222,950 shares of the financial services provider’s stock worth $5,366,000 after acquiring an additional 2,918 shares during the last quarter. BNP Paribas Financial Markets increased its position in Compass Diversified by 81.9% during the first quarter. BNP Paribas Financial Markets now owns 31,139 shares of the financial services provider’s stock worth $750,000 after buying an additional 14,020 shares during the last quarter. Prosperity Consulting Group LLC bought a new position in shares of Compass Diversified in the first quarter worth about $435,000. Diversify Advisory Services LLC bought a new position in shares of Compass Diversified in the first quarter worth about $207,000. Finally, North Star Investment Management Corp. increased its stake in shares of Compass Diversified by 2.4% in the first quarter. North Star Investment Management Corp. now owns 349,290 shares of the financial services provider’s stock worth $8,407,000 after purchasing an additional 8,073 shares during the period. 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.