Compass Diversified (NYSE:CODI) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “COMPASS DIVERSIFIED was formed to acquire and manage a group of middle market businesses that are headquartered in North America. CODI provides public investors with an opportunity to participate in the ownership and growth of companies which have historically been owned by private equity firms, wealthy individuals or families. CODI’s disciplined approach to its target market provides opportunities to methodically purchase attractive businesses at values that are accretive to its shareholders. For sellers of businesses, CODI’s unique structure allows CODI to acquire businesses efficiently with no financing contingencies and, following acquisition, to provide its companies with substantial access to growth capital. “
Separately, BidaskClub cut Compass Diversified from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 13th. Three investment analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. Compass Diversified currently has an average rating of “Hold” and a consensus target price of $19.50.
In other news, insider James Bottiglieri purchased 4,733 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were purchased at an average cost of $17.24 per share, with a total value of $81,596.92. Following the acquisition, the insider now directly owns 55,195 shares of the company’s stock, valued at $951,561.80. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.40% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. First Allied Advisory Services Inc. raised its holdings in Compass Diversified by 2.0% in the 2nd quarter. First Allied Advisory Services Inc. now owns 12,673 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 254 shares during the period. State Street Corp raised its holdings in Compass Diversified by 0.4% in the 2nd quarter. State Street Corp now owns 66,276 shares of the financial services provider’s stock worth $1,157,000 after purchasing an additional 276 shares during the period. Fort Washington Investment Advisors Inc. OH raised its holdings in Compass Diversified by 1.8% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 17,350 shares of the financial services provider’s stock worth $303,000 after purchasing an additional 300 shares during the period. California Public Employees Retirement System raised its holdings in Compass Diversified by 3.7% in the 3rd quarter. California Public Employees Retirement System now owns 118,803 shares of the financial services provider’s stock worth $2,109,000 after purchasing an additional 4,203 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in Compass Diversified by 4.4% in the 2nd quarter. Wells Fargo & Company MN now owns 104,447 shares of the financial services provider’s stock worth $1,823,000 after purchasing an additional 4,446 shares during the period. 33.43% of the stock is currently owned by institutional investors.
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Compass Diversified Company Profile
Compass Diversified Holdings (the Trust) and Compass Group Diversified Holdings, LLC, (the Company), acquires and manages small and middle-market businesses. The Company operates through segments include Acquisition Corp. (5.11 Tactical), The Ergo Baby Carrier, Inc (Ergobaby), Liberty Safe and Security Products, Inc (Liberty), Fresh Hemp Foods Ltd.
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