JPMorgan Chase & Co. Sells 22,365 Shares of Compass Diversified (NYSE:CODI)

JPMorgan Chase & Co. lessened its stake in Compass Diversified (NYSE:CODI) by 19.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 92,517 shares of the financial services provider’s stock after selling 22,365 shares during the period. JPMorgan Chase & Co. owned about 0.12% of Compass Diversified worth $2,047,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CODI. Renaissance Technologies LLC grew its position in shares of Compass Diversified by 562.8% in the 2nd quarter. Renaissance Technologies LLC now owns 103,400 shares of the financial services provider’s stock valued at $2,263,000 after buying an additional 87,800 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Compass Diversified during the 2nd quarter valued at about $200,000. Sei Investments Co. boosted its position in shares of Compass Diversified by 9.2% during the 2nd quarter. Sei Investments Co. now owns 703,142 shares of the financial services provider’s stock valued at $15,392,000 after purchasing an additional 59,172 shares in the last quarter. Truist Financial Corp boosted its position in shares of Compass Diversified by 1.6% during the 2nd quarter. Truist Financial Corp now owns 48,746 shares of the financial services provider’s stock valued at $1,067,000 after purchasing an additional 748 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Compass Diversified during the 2nd quarter valued at about $2,283,000. Institutional investors own 72.73% of the company’s stock.

Compass Diversified Stock Down 0.6 %

CODI stock opened at $21.37 on Wednesday. The stock’s 50 day simple moving average is $22.96 and its 200 day simple moving average is $22.13. Compass Diversified has a fifty-two week low of $19.76 and a fifty-two week high of $25.07. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.62 and a current ratio of 4.22. The company has a market cap of $1.62 billion, a P/E ratio of 44.51, a price-to-earnings-growth ratio of 1.25 and a beta of 1.65.

Compass Diversified (NYSE:CODI) last posted its quarterly 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 return on equity of 12.25% and a net margin of 6.24%. The business had revenue of $582.62 million for the quarter, compared to the consensus estimate of $571.68 million. During the same period in the prior year, the business earned $0.34 EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, research analysts expect that Compass Diversified will post 1.96 earnings per share for the current fiscal year.

Compass Diversified Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 23rd. Stockholders of record on Thursday, January 16th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.68%. The ex-dividend date is Thursday, January 16th. Compass Diversified’s dividend payout ratio (DPR) is presently 208.33%.

Analysts Set New Price Targets

Several brokerages recently commented on CODI. B. Riley upgraded Compass Diversified to a “strong-buy” rating in a research report on Tuesday, January 7th. TD Cowen began coverage on Compass Diversified in a research report on Wednesday, November 27th. They set a “buy” rating and a $34.00 target price on the stock. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $29.00.

Insider Transactions at Compass Diversified

In other news, major shareholder Cgi Magyar Holdings Llc sold 135,274 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $23.05, for a total value of $3,118,065.70. Following the completion of the sale, the insider now directly owns 7,456,197 shares of the company’s stock, valued at $171,865,340.85. This represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.76% of the company’s stock.

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.