Compass Diversified (NYSE:CODI) Trading Up 8.8% - Here's What Happened

Key Points

• Compass Diversified's stock price increased by 8.8% to $7.12, following a trading session where approximately 446,263 shares changed hands, marking a significant decline in volume compared to the average.
• Wall Street analysts have mixed views on Compass Diversified, with a consensus rating of "Hold" and a price target of $26.00, while some analysts have downgraded their ratings.
• Institutional investors and hedge funds hold a substantial stake, owning 72.73% of the company's stock, with notable increases in positions by several investment firms in recent quarters.

Compass Diversified Holdings (NYSE:CODI - Get Free Report)'s stock price rose 8.8% on Thursday . The stock traded as high as $6.97 and last traded at $7.12. Approximately 446,263 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 865,563 shares. The stock had previously closed at $6.54.

Wall Street Analyst Weigh In

CODI has been the topic of a number of analyst reports. Wall Street Zen downgraded shares of Compass Diversified from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Compass Diversified in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $26.00.

Compass Diversified Stock Up 12.8%

The stock has a market cap of $554.90 million, a price-to-earnings ratio of -5.76 and a beta of 1.08. The business's fifty day moving average is $7.06 and its two-hundred day moving average is $9.31.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CODI. Qube Research & Technologies Ltd grew its holdings in Compass Diversified by 738.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 784,746 shares of the financial services provider's stock worth $4,928,000 after acquiring an additional 691,144 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Compass Diversified during the 2nd quarter worth approximately $3,346,000. Allspring Global Investments Holdings LLC grew its holdings in Compass Diversified by 10.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,789,892 shares of the financial services provider's stock worth $88,709,000 after acquiring an additional 451,731 shares in the last quarter. Nuveen LLC acquired a new position in Compass Diversified during the 1st quarter worth approximately $7,785,000. Finally, Y Intercept Hong Kong Ltd grew its holdings in Compass Diversified by 808.2% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 377,880 shares of the financial services provider's stock worth $2,373,000 after acquiring an additional 336,271 shares in the last quarter. Institutional investors and hedge funds own 72.73% of the company's stock.

Compass Diversified Company 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.

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