Short Interest in Compass Diversified (NYSE:CODI) Declines By 16.1%

Compass Diversified (NYSE:CODI) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 771,300 shares, a decline of 16.1% from the October 15th total of 918,800 shares. Based on an average trading volume of 189,600 shares, the short-interest ratio is currently 4.1 days.

Compass Diversified Price Performance

NYSE:CODI opened at $22.95 on Monday. The firm has a market cap of $1.74 billion, a PE ratio of 47.81, a price-to-earnings-growth ratio of 1.48 and a beta of 1.67. Compass Diversified has a 12 month low of $19.76 and a 12 month high of $25.07. The company has a quick ratio of 1.62, a current ratio of 4.22 and a debt-to-equity ratio of 1.51. The company’s 50-day moving average price is $21.52 and its two-hundred day moving average price is $21.86.

Compass Diversified (NYSE:CODI) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.10. Compass Diversified had a net margin of 6.24% and a return on equity of 12.25%. The company had revenue of $582.62 million during the quarter, compared to the consensus estimate of $571.68 million. During the same period in the previous year, the firm posted $0.34 earnings per share. The company’s revenue was up 11.8% on a year-over-year basis. On average, equities analysts anticipate that Compass Diversified will post 1.95 EPS for the current fiscal year.

Compass Diversified Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 17th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend was Thursday, October 17th. Compass Diversified’s dividend payout ratio is presently 208.33%.

Insider Activity

In other news, insider Patrick A. Maciariello purchased 5,000 shares of Compass Diversified stock in a transaction on Friday, September 20th. The shares were purchased at an average cost of $21.87 per share, for a total transaction of $109,350.00. Following the completion of the transaction, the insider now directly owns 228,518 shares in the company, valued at approximately $4,997,688.66. This represents a 2.24 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Cgi Magyar Holdings Llc sold 135,274 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $23.05, for a total transaction of $3,118,065.70. Following the completion of the transaction, the insider now owns 7,456,197 shares in the company, valued at approximately $171,865,340.85. This trade represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Compass Diversified

A number of institutional investors have recently modified their holdings of the stock. Essex Financial Services Inc. raised its stake in shares of Compass Diversified by 45.0% during the second quarter. Essex Financial Services Inc. now owns 1,094,839 shares of the financial services provider’s stock worth $23,966,000 after buying an additional 339,698 shares during the last quarter. FMR LLC raised its position in shares of Compass Diversified by 115.0% during the 3rd quarter. FMR LLC now owns 283,777 shares of the financial services provider’s stock valued at $6,280,000 after acquiring an additional 151,783 shares during the last quarter. Swedbank AB acquired a new position in shares of Compass Diversified in the 3rd quarter valued at $3,306,000. Allspring Global Investments Holdings LLC boosted its position in shares of Compass Diversified by 3.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,257,759 shares of the financial services provider’s stock worth $94,224,000 after purchasing an additional 140,384 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Compass Diversified during the second quarter worth $2,283,000. 72.73% of the stock is owned by institutional investors.

Compass Diversified Company 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.