1620 Investment Advisors Inc. Lowers Position in Compass Diversified (NYSE:CODI)

1620 Investment Advisors Inc. trimmed its position in shares of Compass Diversified (NYSE:CODI) by 14.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,961 shares of the financial services provider’s stock after selling 2,436 shares during the period. 1620 Investment Advisors Inc.’s holdings in Compass Diversified were worth $313,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in shares of Compass Diversified during the fourth quarter valued at approximately $1,018,000. Kornitzer Capital Management Inc. KS boosted its position in shares of Compass Diversified by 32.0% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 185,700 shares of the financial services provider’s stock valued at $4,169,000 after purchasing an additional 45,000 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Compass Diversified by 21,508.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,690,210 shares of the financial services provider’s stock valued at $82,845,000 after purchasing an additional 3,673,132 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Compass Diversified by 24.5% during the fourth quarter. Van ECK Associates Corp now owns 5,118 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 1,008 shares in the last quarter. Finally, LPL Financial LLC boosted its position in shares of Compass Diversified by 1.6% during the third quarter. LPL Financial LLC now owns 194,524 shares of the financial services provider’s stock valued at $3,651,000 after purchasing an additional 3,091 shares in the last quarter. 72.73% of the stock is owned by hedge funds and other institutional investors.

Compass Diversified Trading Down 1.0 %

Shares of NYSE CODI traded down $0.22 during midday trading on Wednesday, hitting $22.21. The company’s stock had a trading volume of 121,246 shares, compared to its average volume of 201,205. The business’s 50 day moving average is $22.98 and its two-hundred day moving average is $22.16. The firm has a market cap of $1.67 billion, a P/E ratio of 131.77 and a beta of 1.72. Compass Diversified has a 12-month low of $16.88 and a 12-month high of $25.07. The company has a current ratio of 4.08, a quick ratio of 1.64 and a debt-to-equity ratio of 1.43.

Compass Diversified (NYSE:CODI) last posted its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). The business had revenue of $524.29 million during the quarter, compared to analyst estimates of $540.20 million. Compass Diversified had a return on equity of 11.71% and a net margin of 4.61%. As a group, equities research analysts expect that Compass Diversified will post 1.92 EPS for the current year.

Compass Diversified Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Thursday, April 18th were issued a $0.25 dividend. The ex-dividend date was Wednesday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 4.50%. Compass Diversified’s dividend payout ratio (DPR) is presently 588.27%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Oppenheimer boosted their price target on Compass Diversified from $21.00 to $23.00 and gave the stock a “market perform” rating in a research note on Tuesday, March 5th. Bank of America upped their price objective on Compass Diversified from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Finally, William Blair reissued an “outperform” rating on shares of Compass Diversified in a research note on Thursday, May 2nd.

Insider Activity

In other news, major shareholder Cgi Magyar Holdings Llc sold 7,510 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $24.92, for a total value of $187,149.20. Following the completion of the transaction, the insider now owns 7,991,471 shares of the company’s stock, valued at approximately $199,147,457.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.76% of the company’s stock.

Compass Diversified Profile

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