Compass Diversified (NYSE:CODI) Short Interest Down 18.7% in August


Compass Diversified (NYSE:CODI – Get Rating) benefited from a sharp drop in short interest during August. As of August 31, there was short interest totaling 1,090,000 shares, down 18.7% from the total of 1,340,000 shares as of August 15. Based on an average daily volume of 446,200 shares, the short interest ratio is currently 2.4 days. Currently, 1.8% of the company’s shares are sold short.

Changes to analyst ratings

Separately, TheStreet upgraded the shares of Compass Diversified from a “c” rating to a “b-” rating in a Thursday, August 25 research report.

Compass Diversified Equity Performance

CODI was down $0.81 on Friday, hitting $19.05. The company had a trading volume of 721,690 shares, compared to an average volume of 228,028. Compass Diversified has a 1-year low of $19.00 and a 1-year high of $33.31. The stock has a market capitalization of $1.37 billion, a PE ratio of 15.88 and a beta of 1.74. The company has a quick ratio of 1.46, a current ratio of 3.37 and a debt ratio of 1.22. The stock has a 50-day moving average price of $22.60 and a 200-day moving average price of $22.81.

Compass Diversified Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 28. Shareholders of record on Thursday, July 21 received a dividend of $0.25. The ex-dividend date was Wednesday July 20. This represents a dividend of $1.00 on an annualized basis and a yield of 5.25%. Compass Diversified’s dividend payout ratio is currently 83.33%.

Insider Activity at Compass Diversified

In related news, major shareholder Anholt Investments Ltd. sold 146,937 shares of Compass Diversified in a trade that took place on Wednesday, August 10. The shares were sold at an average price of $23.71, for a total value of $3,483,876.27. Following the completion of the sale, the insider now owns 7,937,882 shares of the company, valued at approximately $188,207,182.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC’s website. 2.50% of the shares are held by insiders.

Institutional entries and exits

A number of institutional investors have recently bought and sold shares of CODI. State Street Corp acquired a new position in Compass Diversified in the second quarter worth $18,605,000. American Century Companies Inc. increased its stake in Compass Diversified shares by 14.3% during the first quarter. American Century Companies Inc. now owns 5,925,283 shares of the financial services provider worth $140,844,000 after acquiring an additional 742,250 shares during the period. GW&K Investment Management LLC increased its stake in Compass Diversified shares by 66.1% during the first quarter. GW&K Investment Management LLC now owns 1,130,407 shares of the financial services provider worth $26,870,000 after acquiring an additional 450,006 shares during the period. Northern Trust Corp increased its stake in shares of Compass Diversified by 3,095.5% during the second quarter. Northern Trust Corp now owns 461,724 shares of the financial services provider worth $9,891,000 after acquiring an additional 447,275 shares during the period. Finally, Royce & Associates LP increased its equity stake in Compass Diversified by 35.2% during the first quarter. Royce & Associates LP now owns 1,299,569 shares of the financial services provider worth $30,891,000 after acquiring an additional 338,330 shares during the period. 59.81% of the shares are currently held by institutional investors and hedge funds.

Compass Diversified Business Profile

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Compass Diversified is a private equity firm specializing in add-on acquisitions, buyouts, industry consolidation, recapitalization, late-stage and mid-market investments. It seeks to invest in niche industrial or consumer branded companies, manufacturing, distribution, consumer products, business services sector, safety and security, electronic components, food, catering.

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