Compass Diversified Holdings (NYSE:CODI) Sees Large Growth in Short Interest

Compass Diversified Holdings (NYSE:CODI - Get Free Report) saw a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 898,900 shares, an increase of 30.1% from the May 15th total of 690,800 shares. Based on an average daily volume of 1,100,000 shares, the days-to-cover ratio is currently 0.8 days. Approximately 1.2% of the company's shares are short sold.

Hedge Funds Weigh In On Compass Diversified

Institutional investors have recently modified their holdings of the business. Promus Capital LLC bought a new position in Compass Diversified in the 4th quarter valued at $30,000. KBC Group NV purchased a new position in shares of Compass Diversified in the 1st quarter worth about $30,000. NBC Securities Inc. grew its position in Compass Diversified by 167,500.0% during the first quarter. NBC Securities Inc. now owns 1,676 shares of the financial services provider's stock valued at $31,000 after buying an additional 1,675 shares during the period. Millstone Evans Group LLC bought a new position in Compass Diversified during the fourth quarter valued at about $32,000. Finally, Bessemer Group Inc. purchased a new stake in Compass Diversified during the first quarter worth about $37,000. 72.73% of the stock is owned by institutional investors.

Compass Diversified Stock Down 2.5%

Shares of NYSE:CODI traded down $0.16 during trading on Tuesday, reaching $6.11. 1,880,139 shares of the stock were exchanged, compared to its average volume of 481,831. Compass Diversified has a 1-year low of $6.00 and a 1-year high of $24.59. The firm has a market cap of $459.34 million, a price-to-earnings ratio of -4.77 and a beta of 1.05. The stock has a fifty day moving average of $11.40 and a two-hundred day moving average of $17.71. The company has a debt-to-equity ratio of 1.54, a current ratio of 4.07 and a quick ratio of 1.57.

Compass Diversified Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 17th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 16.38%. Compass Diversified's dividend payout ratio is currently -78.13%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. B. Riley downgraded shares of Compass Diversified from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $30.00 to $18.00 in a research report on Thursday, May 8th. Jefferies Financial Group lowered shares of Compass Diversified to a "hold" rating in a report on Friday, June 6th. Finally, William Blair reaffirmed an "outperform" rating on shares of Compass Diversified in a research report on Friday, February 28th.

About Compass Diversified

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.

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