Zacks Investment Research upgraded shares of Compass Diversified Holdings (NYSE:CODI) from a strong sell rating to a hold rating in a research report released on Monday, August 7th.
According to Zacks, “COMPASS DIVERSIFIED was formed to acquire and manage a group of middle market businesses that are headquartered in North America. CODI provides public investors with an opportunity to participate in the ownership and growth of companies which have historically been owned by private equity firms, wealthy individuals or families. CODI’s disciplined approach to its target market provides opportunities to methodically purchase attractive businesses at values that are accretive to its shareholders. For sellers of businesses, CODI’s unique structure allows CODI to acquire businesses efficiently with no financing contingencies and, following acquisition, to provide its companies with substantial access to growth capital. “
A number of other brokerages also recently weighed in on CODI. BidaskClub upgraded Compass Diversified Holdings from a hold rating to a buy rating in a report on Wednesday, July 5th. ValuEngine cut Compass Diversified Holdings from a hold rating to a sell rating in a research note on Friday, August 4th. Jefferies Group LLC reissued a buy rating and issued a $20.00 price objective on shares of Compass Diversified Holdings in a research note on Friday, July 14th. Finally, TheStreet raised Compass Diversified Holdings from a c+ rating to a b rating in a research note on Friday, July 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $19.25.
Compass Diversified Holdings (NYSE:CODI) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported ($0.53) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.90. The business had revenue of $307.38 million during the quarter, compared to the consensus estimate of $302.86 million. Compass Diversified Holdings had a return on equity of 6.42% and a net margin of 2.20%. The company’s revenue for the quarter was up 43.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.33 earnings per share. Analysts anticipate that Compass Diversified Holdings will post $1.62 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 27th. Shareholders of record on Thursday, July 20th were paid a $0.36 dividend. The ex-dividend date was Tuesday, July 18th. This represents a $1.44 dividend on an annualized basis and a yield of 8.42%. Compass Diversified Holdings’s dividend payout ratio (DPR) is presently -276.92%.
In related news, insider Alan B. Offenberg bought 60,000 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The shares were bought at an average price of $16.84 per share, with a total value of $1,010,400.00. Following the completion of the transaction, the insider now directly owns 500,852 shares in the company, valued at $8,434,347.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.40% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. boosted its position in shares of Compass Diversified Holdings by 18.1% in the first quarter. American Century Companies Inc. now owns 2,029,803 shares of the financial services provider’s stock valued at $33,695,000 after buying an additional 311,075 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Compass Diversified Holdings by 2.4% in the second quarter. Royal Bank of Canada now owns 8,687,327 shares of the financial services provider’s stock valued at $151,591,000 after buying an additional 205,723 shares during the last quarter. Alps Advisors Inc. bought a new position in shares of Compass Diversified Holdings during the second quarter valued at about $3,367,000. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Compass Diversified Holdings by 125.0% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 288,017 shares of the financial services provider’s stock valued at $4,781,000 after buying an additional 160,000 shares during the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of Compass Diversified Holdings by 11.8% in the first quarter. Schroder Investment Management Group now owns 1,065,877 shares of the financial services provider’s stock valued at $17,480,000 after buying an additional 112,677 shares during the last quarter. 37.73% of the stock is currently owned by institutional investors.
About Compass Diversified Holdings
Compass Diversified Holdings (the Trust) and Compass Group Diversified Holdings, LLC, (the Company), acquires and manages small and middle-market businesses. The Company operates through segments include Acquisition Corp. (5.11 Tactical), The Ergo Baby Carrier, Inc (Ergobaby), Liberty Safe and Security Products, Inc (Liberty), Fresh Hemp Foods Ltd.
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