Zacks Investment Research lowered shares of Compass Diversified (NYSE:CODI) from a hold rating to a strong sell rating in a report published on Tuesday.
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. “
Separately, BidaskClub cut shares of Compass Diversified from a sell rating to a strong sell rating in a research note on Saturday, November 4th. Three research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $19.50.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Thursday, January 18th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, January 17th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 8.37%. Compass Diversified’s dividend payout ratio is presently -125.22%.
In other news, insider James Bottiglieri purchased 4,733 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was purchased at an average cost of $17.24 per share, with a total value of $81,596.92. Following the purchase, the insider now owns 55,195 shares in the company, valued at $951,561.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its position in Compass Diversified by 2.4% in the 2nd 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 period. American Century Companies Inc. lifted its position in shares of Compass Diversified by 4.4% in the 3rd quarter. American Century Companies Inc. now owns 2,298,112 shares of the financial services provider’s stock worth $40,791,000 after purchasing an additional 97,521 shares during the period. Northern Trust Corp lifted its position in shares of Compass Diversified by 1.4% in the 2nd quarter. Northern Trust Corp now owns 817,674 shares of the financial services provider’s stock worth $14,268,000 after purchasing an additional 11,519 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Compass Diversified by 2.3% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 339,908 shares of the financial services provider’s stock worth $6,033,000 after purchasing an additional 7,654 shares during the period. Finally, Gilman Hill Asset Management LLC lifted its position in shares of Compass Diversified by 2.3% in the 3rd quarter. Gilman Hill Asset Management LLC now owns 227,982 shares of the financial services provider’s stock worth $4,047,000 after purchasing an additional 5,100 shares during the period. 33.43% of the stock is owned by institutional investors.
Compass Diversified Company Profile
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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