Compass Diversified Holdings (NYSE:CODI) Short Interest Up 51.5% in October

Compass Diversified Holdings (NYSE:CODI) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 3,940,000 shares, an increase of 51.5% from the September 30th total of 2,600,000 shares. Based on an average trading volume of 1,350,000 shares, the short-interest ratio is presently 2.9 days. Approximately 5.3% of the company’s shares are short sold. Approximately 5.3% of the company’s shares are short sold. Based on an average trading volume of 1,350,000 shares, the short-interest ratio is presently 2.9 days.

Compass Diversified Trading Down 3.1%

Shares of CODI traded down $0.20 during midday trading on Monday, reaching $6.19. 1,294,450 shares of the company were exchanged, compared to its average volume of 1,034,965. The stock has a 50-day moving average price of $7.20 and a 200-day moving average price of $7.95. The company has a market cap of $465.33 million, a price-to-earnings ratio of -4.83 and a beta of 1.08. Compass Diversified has a 1-year low of $5.98 and a 1-year high of $24.32.

Wall Street Analyst Weigh In

CODI has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Compass Diversified in a research report on Wednesday, October 8th. Wall Street Zen downgraded Compass Diversified from a “buy” rating to a “hold” rating in a research report on Friday, August 22nd. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $26.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CODI. Qube Research & Technologies Ltd lifted its stake in shares of Compass Diversified by 738.4% in the second quarter. Qube Research & Technologies Ltd now owns 784,746 shares of the financial services provider’s stock worth $4,928,000 after acquiring an additional 691,144 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of Compass Diversified in the second quarter worth about $3,346,000. Nuveen LLC acquired a new position in shares of Compass Diversified in the first quarter worth about $7,785,000. Y Intercept Hong Kong Ltd lifted its stake in shares of Compass Diversified by 808.2% in the second quarter. Y Intercept Hong Kong Ltd now owns 377,880 shares of the financial services provider’s stock worth $2,373,000 after acquiring an additional 336,271 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Compass Diversified in the second quarter worth about $2,017,000. Institutional investors and hedge funds own 72.73% of the company’s stock.

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.