Quest Partners LLC Raises Position in Compass Diversified (NYSE:CODI)

Quest Partners LLC boosted its stake in shares of Compass Diversified (NYSE:CODI) by 245.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,440 shares of the financial services provider’s stock after purchasing an additional 5,288 shares during the period. Quest Partners LLC’s holdings in Compass Diversified were worth $165,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. HHM Wealth Advisors LLC purchased a new position in Compass Diversified in the second quarter valued at about $33,000. Farther Finance Advisors LLC boosted its position in Compass Diversified by 273.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,219 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 1,625 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Compass Diversified in the second quarter valued at approximately $53,000. Ridgewood Investments LLC acquired a new position in Compass Diversified during the 2nd quarter worth $55,000. Finally, Nisa Investment Advisors LLC grew its position in Compass Diversified by 190.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,051 shares of the financial services provider’s stock valued at $68,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 72.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, TD Cowen started coverage on Compass Diversified in a research note on Wednesday. They issued a “buy” rating and a $34.00 price objective on the stock.

Compass Diversified Price Performance

CODI stock opened at $23.64 on Friday. The firm has a 50-day moving average of $21.95 and a two-hundred day moving average of $21.95. Compass Diversified has a one year low of $19.76 and a one year high of $25.07. The company has a current ratio of 4.22, a quick ratio of 1.62 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $1.79 billion, a PE ratio of 49.25, a P/E/G ratio of 1.52 and a beta of 1.67.

Compass Diversified (NYSE:CODI) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.10. Compass Diversified had a net margin of 6.24% and a return on equity of 12.25%. The business had revenue of $582.62 million during the quarter, compared to analyst estimates of $571.68 million. During the same quarter in the previous year, the business earned $0.34 EPS. Compass Diversified’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, analysts forecast that Compass Diversified will post 1.95 earnings per share for the current year.

Compass Diversified Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 17th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.23%. The ex-dividend date was Thursday, October 17th. Compass Diversified’s dividend payout ratio is currently 208.33%.

Insider Buying and Selling

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

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.