Compass Diversified (NYSE:CODI) Shares Gap Up – Here’s Why

Shares of Compass Diversified Holdings (NYSE:CODI) gapped up before the market opened on Monday . The stock had previously closed at $10.06, but opened at $10.70. Compass Diversified shares last traded at $10.3950, with a volume of 126,656 shares.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CODI. Weiss Ratings upgraded shares of Compass Diversified from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, April 21st. Zacks Research raised shares of Compass Diversified from a “strong sell” rating to a “hold” rating in a research note on Monday, March 16th. Finally, B. Riley Financial boosted their target price on Compass Diversified from $8.00 to $10.50 and gave the company a “neutral” rating in a research report on Tuesday, April 7th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $12.75.

Compass Diversified Stock Up 1.6%

The company has a debt-to-equity ratio of 34.60, a current ratio of 2.67 and a quick ratio of 1.56. The stock has a market cap of $769.33 million, a PE ratio of -2.62 and a beta of 1.26. The business has a fifty day moving average of $10.96 and a 200-day moving average of $8.49.

Institutional Investors Weigh In On Compass Diversified

Several hedge funds have recently made changes to their positions in the company. Essential Partners LLC grew its position in shares of Compass Diversified by 9,263.2% during the 1st quarter. Essential Partners LLC now owns 5,337 shares of the financial services provider’s stock worth $42,000 after buying an additional 5,280 shares in the last quarter. RPO LLC purchased a new position in shares of Compass Diversified during the fourth quarter valued at $60,000. Geneos Wealth Management Inc. raised its holdings in shares of Compass Diversified by 68.6% in the second quarter. Geneos Wealth Management Inc. now owns 9,830 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 4,000 shares in the last quarter. Focus Partners Wealth bought a new stake in shares of Compass Diversified in the third quarter valued at about $70,000. Finally, Quantessence Capital LLC purchased a new stake in Compass Diversified in the third quarter worth about $70,000. 72.73% of the stock is currently owned by hedge funds and other institutional investors.

Compass Diversified Company Profile

Compass Diversified Holdings (NYSE:CODI) is a publicly traded private equity company headquartered in Bethesda, Maryland. The firm specializes in acquiring and managing middle-market businesses across a variety of industries, with a focus on driving operational performance and sustainable growth. As an externally managed entity, Compass Diversified leverages a disciplined investment approach to build a portfolio of market-leading companies that benefit from strategic oversight, capital support and shared best practices.

Compass Diversified’s investment activities span five core sectors: branded consumer, consumer services, differentiated industrial products, value-added distribution and business services.