Compass Diversified Holdings (NYSE:CODI) was the recipient of a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 203,000 shares, a drop of 22.5% from the June 30th total of 261,900 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average trading volume of 270,300 shares, the short-interest ratio is presently 0.8 days.
In related news, insider Ryan J. Faulkingham acquired 3,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was purchased at an average cost of $18.44 per share, for a total transaction of $55,320.00. Following the completion of the transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $182,556. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Elias Sabo acquired 18,333 shares of the business’s stock in a transaction on Monday, June 17th. The shares were bought at an average price of $19.15 per share, with a total value of $351,076.95. Following the completion of the transaction, the insider now directly owns 585,549 shares of the company’s stock, valued at $11,213,263.35. The disclosure for this purchase can be found here. Insiders have acquired 39,667 shares of company stock valued at $747,776 over the last 90 days. Company insiders own 3.70% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its stake in Compass Diversified by 19.8% in the fourth quarter. Legal & General Group Plc now owns 276,133 shares of the financial services provider’s stock valued at $3,436,000 after acquiring an additional 45,663 shares during the last quarter. Joseph P. Lucia & Associates LLC bought a new position in Compass Diversified in the first quarter valued at approximately $660,000. Janney Montgomery Scott LLC increased its stake in Compass Diversified by 25.8% in the first quarter. Janney Montgomery Scott LLC now owns 206,308 shares of the financial services provider’s stock valued at $3,237,000 after acquiring an additional 42,299 shares during the last quarter. Bank of America Corp DE increased its stake in Compass Diversified by 4.3% in the fourth quarter. Bank of America Corp DE now owns 537,862 shares of the financial services provider’s stock valued at $6,697,000 after acquiring an additional 21,957 shares during the last quarter. Finally, Wedbush Securities Inc. bought a new position in Compass Diversified in the first quarter valued at approximately $159,000. Institutional investors own 31.74% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 18th were given a $0.36 dividend. The ex-dividend date was Wednesday, July 17th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 7.78%. Compass Diversified’s payout ratio is 100.00%.
CODI has been the subject of a number of analyst reports. Roth Capital initiated coverage on shares of Compass Diversified in a research report on Monday, July 29th. They issued a “buy” rating and a $21.50 price target for the company. Raymond James downgraded shares of Compass Diversified from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. They noted that the move was a valuation call. TheStreet upgraded shares of Compass Diversified from a “c+” rating to a “b-” rating in a research report on Thursday. Finally, Zacks Investment Research downgraded shares of Compass Diversified from a “hold” rating to a “sell” rating in a research report on Thursday, July 4th.
About Compass Diversified
Compass Diversified Holdings LLC is a private equity firm specializing in acquisitions, buyouts, industry consolidation, recapitalization, and middle market investments. It seeks to invest in niche industrial or branded consumer companies, manufacturing, distribution, consumer products, business services sector, safety & security, electronic components, food, foodservice.
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