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
(Get an assessment)
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.
This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Before you consider Compass Diversified, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Compass Diversified was not on the list.
Although Compass Diversified currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the five actions here