Compass Diversified (NYSE:CODI) Sees Large Decrease in Short Interest

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

Compass Diversified Price Performance

Shares of CODI opened at $22.95 on Friday. The firm has a 50-day simple moving average of $21.48 and a two-hundred day simple moving average of $21.86. The stock has a market cap of $1.74 billion, a PE ratio of 47.81, a P/E/G ratio of 1.49 and a beta of 1.67. Compass Diversified has a 1-year low of $19.76 and a 1-year high of $25.07. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.22 and a quick ratio of 1.62.

Compass Diversified (NYSE:CODI) last posted its quarterly earnings data 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. The firm had revenue of $582.62 million during the quarter, compared to analysts’ expectations of $571.68 million. Compass Diversified had a net margin of 6.24% and a return on equity of 12.25%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company posted $0.34 EPS. As a group, analysts forecast that Compass Diversified will post 1.95 EPS for the current year.

Compass Diversified Announces Dividend

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

Insider Activity at Compass Diversified

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

Hedge Funds Weigh In On Compass Diversified

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. HHM Wealth Advisors LLC acquired a new position in Compass Diversified during the 2nd quarter worth $33,000. Farther Finance Advisors LLC grew its position in shares of Compass Diversified by 273.6% during the third quarter. Farther Finance Advisors LLC now owns 2,219 shares of the financial services provider’s stock worth $49,000 after buying an additional 1,625 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Compass Diversified during the second quarter worth approximately $53,000. Ridgewood Investments LLC acquired a new stake in Compass Diversified in the second quarter valued at approximately $55,000. Finally, Nisa Investment Advisors LLC lifted its stake in Compass Diversified by 190.3% in the third quarter. Nisa Investment Advisors LLC now owns 3,051 shares of the financial services provider’s stock worth $68,000 after acquiring an additional 2,000 shares during the last quarter. 72.73% of the stock is currently owned by hedge funds and other 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.