Compass Diversified (NYSE:CODI) Sees Large Volume Increase - Still a Buy?

Key Points

• Compass Diversified (NYSE:CODI) experienced a significant increase in trading volume, with 1,643,099 shares traded, up 74% from the previous session.
• Analyst ratings for CODI vary, with a consensus rating of "Hold" and an average target price of $26.00, following multiple downgrades from research firms.
• Institutional investors hold 72.73% of CODI shares, indicating strong institutional interest and investments from firms like Mackenzie Financial and Nomura Asset Management.

Shares of Compass Diversified Holdings (NYSE:CODI - Get Free Report) saw an uptick in trading volume on Monday . 1,643,099 shares traded hands during mid-day trading, an increase of 74% from the previous session's volume of 941,865 shares.The stock last traded at $8.47 and had previously closed at $8.35.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CODI. Wall Street Zen downgraded Compass Diversified from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Weiss Ratings reiterated a "sell (d+)" rating on shares of Compass Diversified in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $26.00.

Compass Diversified Stock Up 4.9%

The firm has a fifty day simple moving average of $7.10 and a 200-day simple moving average of $9.10. The company has a market capitalization of $658.99 million, a P/E ratio of -6.85 and a beta of 1.08.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CODI. Mackenzie Financial Corp lifted its position in shares of Compass Diversified by 4.7% in the first quarter. Mackenzie Financial Corp now owns 22,945 shares of the financial services provider's stock valued at $429,000 after buying an additional 1,030 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Compass Diversified by 3.8% in the first quarter. Cetera Investment Advisers now owns 32,301 shares of the financial services provider's stock valued at $603,000 after buying an additional 1,197 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Compass Diversified by 29.0% in the second quarter. Nomura Asset Management Co. Ltd. now owns 6,548 shares of the financial services provider's stock valued at $41,000 after buying an additional 1,471 shares during the last quarter. KBC Group NV acquired a new stake in shares of Compass Diversified in the first quarter valued at approximately $30,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Compass Diversified by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,635 shares of the financial services provider's stock valued at $740,000 after buying an additional 1,728 shares during the last quarter. 72.73% of the stock is currently owned by institutional investors.

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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