Lord Abbett & CO. LLC Acquires 49,276 Shares of Compass Diversified Holdings $CODI

Key Points

• Lord Abbett & CO. LLC has increased its holdings in Compass Diversified Holdings (NYSE:CODI) by 3.2%, now owning approximately 1,608,556 shares valued at $30,032,000.
• Several institutional investors, including KBC Group NV and NBC Securities Inc., have also modified their positions in Compass Diversified, indicating an active interest in the stock.
• Wall Street analysts currently have a consensus rating of "Moderate Buy" for CODI, with a target price of $26.00, despite recent rating downgrades from some firms.

Lord Abbett & CO. LLC increased its stake in Compass Diversified Holdings (NYSE:CODI - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,608,556 shares of the financial services provider's stock after purchasing an additional 49,276 shares during the period. Lord Abbett & CO. LLC owned 2.14% of Compass Diversified worth $30,032,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CODI. Allspring Global Investments Holdings LLC raised its stake 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 valued at $88,709,000 after acquiring an additional 451,731 shares in the last quarter. GW&K Investment Management LLC boosted its position in Compass Diversified by 2.3% during the first quarter. GW&K Investment Management LLC now owns 1,477,259 shares of the financial services provider's stock valued at $27,580,000 after purchasing an additional 33,821 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Compass Diversified by 14.9% in the fourth quarter. Bank of America Corp DE now owns 1,203,606 shares of the financial services provider's stock worth $27,779,000 after buying an additional 156,074 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Compass Diversified by 1.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,103,405 shares of the financial services provider's stock worth $25,467,000 after purchasing an additional 18,210 shares during the last quarter. Finally, Royce & Associates LP lifted its position in shares of Compass Diversified by 9.9% during the 1st quarter. Royce & Associates LP now owns 898,022 shares of the financial services provider's stock worth $16,766,000 after purchasing an additional 80,990 shares during the last quarter. Institutional investors own 72.73% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on CODI. Wall Street Zen raised Compass Diversified from a "hold" rating to a "buy" rating in a report on Sunday, August 3rd. Jefferies Financial Group cut Compass Diversified to a "hold" rating in a report on Friday, June 6th. Finally, B. Riley lowered Compass Diversified from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $30.00 to $18.00 in a research report on Thursday, May 8th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $26.00.

Compass Diversified Stock Down 0.2%

Shares of NYSE:CODI traded down $0.0150 during midday trading on Tuesday, reaching $7.2850. The company had a trading volume of 412,676 shares, compared to its average volume of 886,250. The company has a quick ratio of 1.57, a current ratio of 4.07 and a debt-to-equity ratio of 1.54. The business's 50 day moving average price is $6.55 and its 200 day moving average price is $12.69. The stock has a market cap of $548.09 million, a PE ratio of -5.71 and a beta of 1.05. Compass Diversified Holdings has a 1-year low of $5.98 and a 1-year high of $24.32.

Compass Diversified 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.