National Bank of Canada FI Lowers Stock Position in Compass Diversified Holdings $CODI

Key Points

• The National Bank of Canada FI reduced its stake in Compass Diversified Holdings by 16.6%, selling 34,181 shares and now holds approximately 0.23% of the company, worth about $3.2 million.
• Several institutional investors have made significant changes to their positions in Compass Diversified, resulting in 72.73% of the stock being owned by institutional investors.
• Analysts' ratings for Compass Diversified have fluctuated, with recent upgrades and downgrades, resulting in a consensus rating of "Moderate Buy" and an average price target of $26.00.

National Bank of Canada FI decreased its position in shares of Compass Diversified Holdings (NYSE:CODI - Free Report) by 16.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 171,219 shares of the financial services provider's stock after selling 34,181 shares during the quarter. National Bank of Canada FI owned 0.23% of Compass Diversified worth $3,196,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Compass Diversified by 10.4% during the first 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 last quarter. GW&K Investment Management LLC lifted 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 period. Bank of America Corp DE lifted its position in Compass Diversified by 14.9% during 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 position in Compass Diversified by 1.7% during the fourth 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 period. Finally, Royce & Associates LP lifted its position in Compass Diversified by 9.9% during the first 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 period. Hedge funds and other institutional investors own 72.73% of the company's stock.

Compass Diversified Trading Down 0.2%

Shares of Compass Diversified stock traded down $0.02 during trading on Monday, hitting $7.33. The stock had a trading volume of 507,201 shares, compared to its average volume of 887,134. Compass Diversified Holdings has a 12 month low of $5.98 and a 12 month high of $24.32. The firm's fifty day simple moving average is $6.53 and its 200-day simple moving average is $12.78. The stock has a market cap of $551.13 million, a PE ratio of -5.71 and a beta of 1.05. The company has a debt-to-equity ratio of 1.54, a current ratio of 4.07 and a quick ratio of 1.57.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. B. Riley downgraded shares of Compass Diversified from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $30.00 to $18.00 in a research report on Thursday, May 8th. Jefferies Financial Group downgraded shares of Compass Diversified to a "hold" rating in a research report on Friday, June 6th. Finally, Wall Street Zen upgraded shares of Compass Diversified from a "hold" rating to a "buy" rating in a research report on Sunday, August 3rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on 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.