First Manhattan CO. LLC. Makes New $3.14 Million Investment in CompoSecure, Inc. $CMPO

Key Points

• First Manhattan CO. LLC has acquired 288,492 shares of CompoSecure, Inc. (CMPO), valued at approximately $3.1 million, increasing its stake to about 0.28%.
• Other institutional investors, including Vanguard Group and Locust Wood Capital Advisers, have also significantly increased their holdings in CompoSecure during the first quarter.
• Despite these investments, the stock opened at $18.98 and has faced a slight decline of 0.7%, with a current price objective varying between $15.00 and $23.00 from different analysts.

First Manhattan CO. LLC. bought a new stake in CompoSecure, Inc. (NASDAQ:CMPO - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 288,492 shares of the company's stock, valued at approximately $3,136,000. First Manhattan CO. LLC. owned about 0.28% of CompoSecure at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of America Corp DE grew its stake in CompoSecure by 449.5% in the 4th quarter. Bank of America Corp DE now owns 651,211 shares of the company's stock valued at $9,983,000 after buying an additional 532,708 shares during the last quarter. Squarepoint Ops LLC grew its stake in CompoSecure by 29.7% in the 4th quarter. Squarepoint Ops LLC now owns 270,145 shares of the company's stock valued at $4,141,000 after buying an additional 61,928 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in CompoSecure by 82.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 62,563 shares of the company's stock valued at $684,000 after buying an additional 28,281 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in CompoSecure in the 1st quarter valued at $726,000. Finally, Jump Financial LLC acquired a new position in CompoSecure in the 1st quarter valued at $1,120,000. 37.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Timothy Walter Fitzsimmons sold 100,000 shares of CompoSecure stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $18.74, for a total transaction of $1,874,000.00. Following the completion of the transaction, the chief financial officer directly owned 759,789 shares of the company's stock, valued at $14,238,445.86. This trade represents a 11.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kevin M. Moriarty purchased 13,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The shares were purchased at an average cost of $19.28 per share, with a total value of $250,640.00. Following the completion of the acquisition, the director directly owned 13,000 shares in the company, valued at $250,640. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 217,125 shares of company stock valued at $4,139,550. Company insiders own 52.10% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CMPO. Wall Street Zen lowered shares of CompoSecure from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Benchmark raised their price target on shares of CompoSecure from $14.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Needham & Company LLC restated a "buy" rating and issued a $15.00 price target on shares of CompoSecure in a research report on Tuesday, May 13th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $16.00 price target on shares of CompoSecure in a research report on Wednesday, August 20th. Finally, B. Riley restated a "buy" rating and issued a $23.00 price target (up from $17.00) on shares of CompoSecure in a research report on Monday, August 18th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $17.67.

CompoSecure Stock Performance

Shares of NASDAQ:CMPO traded up $0.46 during midday trading on Monday, reaching $18.96. 188,559 shares of the company's stock were exchanged, compared to its average volume of 940,176. The company's 50 day simple moving average is $16.34 and its two-hundred day simple moving average is $13.63. The firm has a market capitalization of $1.94 billion, a PE ratio of -11.29 and a beta of 0.96. CompoSecure, Inc. has a 12 month low of $9.24 and a 12 month high of $20.14.

About CompoSecure

CompoSecure, Inc manufactures and designs metal, composite, and proprietary financial transaction cards in the United States and internationally. Its primary metal form factors include embedded, metal veneer lite, metal veneer, and full metal products. The company also offers Arculus Cold Storage Wallet, a three-factor authentication solution, which supports specific digital assets, including Bitcoin, Ethereum, non-fungible tokens and others.