Steamboat Capital Partners LLC Invests $17.07 Million in Compass, Inc. $COMP

Key Points

• Steamboat Capital Partners purchased 1.38 million Compass shares worth approximately $17.07 million, making Compass its sixth-largest holding and representing about 0.18% of the company. Institutional investors collectively own 67.05% of Compass.
• Analysts maintain a positive outlook, with Compass receiving a consensus “Moderate Buy” rating and an average price target of $14.15; targets range from $12 to $18.
• Compass exceeded quarterly expectations, reporting adjusted EPS of $0.11 versus the $0.08 consensus and revenue of $4.31 billion versus $4.11 billion expected. Shares opened at $10.75, compared with a 12-month range of $6.37 to $13.95.

Steamboat Capital Partners LLC purchased a new stake in Compass, Inc. (NYSE:COMP - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,384,358 shares of the company's stock, valued at approximately $17,069,000. Compass accounts for about 3.7% of Steamboat Capital Partners LLC's investment portfolio, making the stock its 6th biggest holding. Steamboat Capital Partners LLC owned about 0.18% of Compass at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of COMP. California State Teachers Retirement System acquired a new position in Compass during the second quarter worth $119,834,000. Wellington Management Group LLP acquired a new position in shares of Compass during the second quarter valued at about $41,838,000. Irenic Capital Management LP bought a new stake in shares of Compass during the second quarter worth about $22,156,000. Readystate Asset Management LP bought a new stake in shares of Compass during the second quarter worth about $20,237,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Compass in the 2nd quarter worth about $10,232,000. Institutional investors own 67.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on COMP. Oppenheimer raised their price target on shares of Compass from $15.00 to $18.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Wells Fargo & Company increased their price objective on Compass from $12.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 5th. The Goldman Sachs Group raised their target price on Compass from $10.50 to $12.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. BTIG Research reaffirmed a "buy" rating on shares of Compass in a research report on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $15.00 price target on shares of Compass in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Compass currently has a consensus rating of "Moderate Buy" and an average target price of $14.15.

Compass Price Performance

Shares of NYSE COMP opened at $10.75 on Wednesday. Compass, Inc. has a twelve month low of $6.37 and a twelve month high of $13.95. The stock's 50 day moving average price is $11.84 and its 200-day moving average price is $9.66. The company has a market capitalization of $8.14 billion, a PE ratio of 179.20 and a beta of 2.32. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.05.

Compass (NYSE:COMP - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.03. The company had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.11 billion. Compass had a return on equity of 3.62% and a net margin of 0.63%. On average, equities analysts anticipate that Compass, Inc. will post 0.24 EPS for the current year.

Insider Transactions at Compass

In other Compass news, CEO Robert Reffkin sold 23,456 shares of the company's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $11.70, for a total value of $274,435.20. Following the completion of the transaction, the chief executive officer owned 7,757,748 shares in the company, valued at $90,765,651.60. This represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.85% of the stock is owned by company insiders.

About Compass

Compass, Inc is a technology-driven real estate brokerage firm that provides a full suite of services for home buyers, sellers and renters. Utilizing a proprietary software platform, the company equips its network of licensed real estate agents with data analytics, marketing automation and client relationship tools designed to enhance efficiency and transaction transparency.

Founded in 2012 by Ori Allon and Robert Reffkin, Compass has grown from a single office in New York City to serve more than 300 markets across the United States.

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