Lord Abbett & CO. LLC Grows Stock Position in 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 raised its position in Compass Diversified Holdings (NYSE:CODI - Free Report) by 3.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,608,556 shares of the financial services provider's stock after purchasing an additional 49,276 shares during the quarter. Lord Abbett & CO. LLC owned about 2.14% of Compass Diversified worth $30,032,000 as of its most recent SEC filing.

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

Compass Diversified Stock Down 2.1%

Shares of CODI traded down $0.1550 during mid-day trading on Wednesday, hitting $7.1550. 483,278 shares of the company's stock were exchanged, compared to its average volume of 969,692. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.57 and a current ratio of 4.07. The company has a market cap of $538.34 million, a price-to-earnings ratio of -5.59 and a beta of 1.05. The stock's 50-day moving average is $6.58 and its 200-day moving average is $12.61. Compass Diversified Holdings has a fifty-two week low of $5.98 and a fifty-two week high of $24.32.

Analyst Upgrades and Downgrades

CODI has been the subject of a number of recent analyst reports. Wall Street Zen raised Compass Diversified from a "hold" rating to a "buy" rating in a research report on Sunday, August 3rd. B. Riley lowered shares of Compass Diversified from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $30.00 to $18.00 in a research note on Thursday, May 8th. Finally, Jefferies Financial Group downgraded shares of Compass Diversified to a "hold" rating in a research note on Friday, June 6th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Compass Diversified has a consensus rating of "Moderate Buy" and an average price target of $26.00.

About Compass Diversified

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.