Royal Bank of Canada Sells 107,453 Shares of Compass Diversified Holdings $CODI

Key Points

• The Royal Bank of Canada reduced its holdings in Compass Diversified Holdings by 14.6%, selling 107,453 shares to end the first quarter with 629,710 shares valued at approximately $11.8 million.
• Several hedge funds have modified their positions in Compass Diversified, with notable increases from Northern Trust Corp and Bank of America, indicating growing institutional interest.
• Analysts have issued mixed ratings on Compass Diversified, with two firms downgrading the stock to "hold," while the consensus rating remains a "Moderate Buy" with a price target of $26.00.

Royal Bank of Canada lessened its position in Compass Diversified Holdings (NYSE:CODI - Free Report) by 14.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 629,710 shares of the financial services provider's stock after selling 107,453 shares during the period. Royal Bank of Canada owned about 0.84% of Compass Diversified worth $11,758,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CODI. Allspring Global Investments Holdings LLC raised its stake in Compass Diversified by 10.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,789,892 shares of the financial services provider's stock worth $88,709,000 after purchasing an additional 451,731 shares in the last quarter. Nuveen LLC bought a new position in Compass Diversified in the 1st quarter valued at about $7,785,000. Bank of America Corp DE increased its holdings in Compass Diversified by 14.9% in the 4th 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 buying an additional 156,074 shares during the period. Royce & Associates LP increased its holdings in 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 buying an additional 80,990 shares during the period. Finally, Millennium Management LLC increased its holdings in Compass Diversified by 190.2% in the 4th quarter. Millennium Management LLC now owns 82,381 shares of the financial services provider's stock valued at $1,901,000 after buying an additional 53,994 shares during the period. Institutional investors and hedge funds own 72.73% of the company's stock.

Wall Street Analysts Forecast Growth

CODI has been the topic of several recent analyst reports. Jefferies Financial Group lowered shares of Compass Diversified to a "hold" rating in a report on Friday, June 6th. Wall Street Zen lowered shares of Compass Diversified from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $26.00.

Compass Diversified Price Performance

Shares of Compass Diversified stock traded down $0.04 on Monday, reaching $6.98. The stock had a trading volume of 1,370,788 shares, compared to its average volume of 863,051. The business's 50 day moving average is $6.91 and its two-hundred day moving average is $10.89. The company has a market cap of $524.80 million, a P/E ratio of -5.45 and a beta of 1.04. The company has a current ratio of 4.07, a quick ratio of 1.57 and a debt-to-equity ratio of 1.54. 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.