Bank of America Corp DE Grows Stake in Compass Diversified Holdings $CODI

Bank of America Corp DE increased its position in Compass Diversified Holdings (NYSE:CODI - Free Report) by 77.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,306,527 shares of the financial services provider's stock after acquiring an additional 570,003 shares during the period. Bank of America Corp DE owned about 1.74% of Compass Diversified worth $10,269,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. SG Capital Management LLC purchased a new stake in Compass Diversified in the 4th quarter worth approximately $7,626,000. CenterBook Partners LP purchased a new stake in shares of Compass Diversified in the fourth quarter worth $6,597,000. Western Standard LLC purchased a new stake in shares of Compass Diversified in the fourth quarter worth $5,592,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Compass Diversified during the 4th quarter valued at $4,099,000. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Compass Diversified by 75.2% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,966,408 shares of the financial services provider's stock valued at $9,439,000 after purchasing an additional 843,965 shares during the period. Hedge funds and other institutional investors own 72.73% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CODI shares. Wall Street Zen lowered Compass Diversified from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. B. Riley Financial upgraded Compass Diversified from a "neutral" rating to a "buy" rating and upped their price target for the stock from $11.00 to $15.00 in a research note on Tuesday, August 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Compass Diversified in a research report on Friday, July 17th. TD Cowen lifted their price objective on shares of Compass Diversified from $12.50 to $18.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Finally, UBS Group set a $18.00 target price on shares of Compass Diversified in a report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $16.50.

Insider Activity

In other news, insider Zachary T. Sawtelle acquired 7,000 shares of Compass Diversified stock in a transaction that occurred on Thursday, August 13th. The shares were bought at an average cost of $12.45 per share, with a total value of $87,150.00. Following the transaction, the insider directly owned 63,588 shares of the company's stock, valued at $791,670.60. This trade represents a 12.37% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Teri Shaffer acquired 11,881 shares of Compass Diversified stock in a transaction that occurred on Wednesday, August 12th. The stock was purchased at an average cost of $12.25 per share, for a total transaction of $145,542.25. Following the completion of the transaction, the insider directly owned 13,201 shares in the company, valued at $161,712.25. This trade represents a 900.08% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 120,995 shares of company stock worth $1,486,098 over the last 90 days. Insiders own 1.60% of the company's stock.

Compass Diversified Trading Up 0.4%

Shares of CODI stock opened at $11.73 on Monday. The company has a market cap of $882.52 million, a PE ratio of -5.41 and a beta of 1.27. Compass Diversified Holdings has a 1 year low of $4.58 and a 1 year high of $13.25. The stock's 50 day simple moving average is $10.61 and its two-hundred day simple moving average is $9.64. The company has a debt-to-equity ratio of 11.90, a current ratio of 2.26 and a quick ratio of 1.10.

Compass Diversified (NYSE:CODI - Get Free Report) last announced its earnings results on Monday, August 10th. The financial services provider reported ($0.09) EPS for the quarter. Compass Diversified had a negative return on equity of 10.36% and a negative net margin of 5.38%.The company had revenue of $424.04 million during the quarter. Research analysts predict that Compass Diversified Holdings will post 0.11 earnings per share for the current year.

About Compass Diversified

Compass Diversified Holdings NYSE: CODI is a publicly traded private equity company headquartered in Bethesda, Maryland. The firm specializes in acquiring and managing middle-market businesses across a variety of industries, with a focus on driving operational performance and sustainable growth. As an externally managed entity, Compass Diversified leverages a disciplined investment approach to build a portfolio of market-leading companies that benefit from strategic oversight, capital support and shared best practices.

Compass Diversified's investment activities span five core sectors: branded consumer, consumer services, differentiated industrial products, value-added distribution and business services.

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