Healthcare of Ontario Pension Plan Trust Fund Trims Stake in Compass Diversified Holdings $CODI

Key Points

• Healthcare of Ontario Pension Plan Trust Fund reduced its Compass Diversified stake by 23.2% in the first quarter, selling 197,800 shares and retaining 656,200 shares worth approximately $5.16 million.
• Institutional ownership remains high at 72.73%, with several funds—including Jane Street, UBS Asset Management and Geode Capital—adding to their positions during the reported periods.
• CODI shares opened at $10.02, below the analyst consensus price target of $12.67. Analyst sentiment is mixed, resulting in an overall “Hold” consensus, with two Buy, three Hold and one Sell rating.

Healthcare of Ontario Pension Plan Trust Fund cut its position in shares of Compass Diversified Holdings (NYSE:CODI - Free Report) by 23.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 656,200 shares of the financial services provider's stock after selling 197,800 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.87% of Compass Diversified worth $5,158,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CODI. AQR Capital Management LLC purchased a new position in shares of Compass Diversified during the first quarter valued at approximately $294,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Compass Diversified by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,635 shares of the financial services provider's stock valued at $740,000 after acquiring an additional 1,728 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Compass Diversified by 6.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 154,458 shares of the financial services provider's stock valued at $2,884,000 after acquiring an additional 10,006 shares during the last quarter. Jane Street Group LLC grew its position in Compass Diversified by 345.5% in the 1st quarter. Jane Street Group LLC now owns 193,907 shares of the financial services provider's stock valued at $3,620,000 after acquiring an additional 150,386 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Compass Diversified by 5.5% in the second quarter. Geode Capital Management LLC now owns 862,549 shares of the financial services provider's stock worth $5,416,000 after purchasing an additional 44,938 shares during the period. 72.73% of the stock is owned by hedge funds and other institutional investors.

Compass Diversified Price Performance

Shares of CODI opened at $10.02 on Thursday. The company has a 50 day moving average price of $10.47 and a 200-day moving average price of $8.97. Compass Diversified Holdings has a fifty-two week low of $4.58 and a fifty-two week high of $12.64. The stock has a market capitalization of $753.83 million, a PE ratio of -2.56 and a beta of 1.26. The company has a debt-to-equity ratio of 34.60, a quick ratio of 1.56 and a current ratio of 2.67.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CODI shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Compass Diversified in a research report on Friday, July 17th. B. Riley Financial upped their price target on shares of Compass Diversified from $8.00 to $10.50 and gave the stock a "neutral" rating in a report on Tuesday, April 7th. Finally, TD Cowen reaffirmed a "buy" rating and issued a $12.50 price target on shares of Compass Diversified in a research note on Thursday, July 16th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $12.67.

Compass Diversified Profile

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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