Compass Diversified (NYSE:CODI) Stake Boosted by Millennium Management LLC

Millennium Management LLC increased its position in shares of Compass Diversified (NYSE:CODI) by 190.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,381 shares of the financial services provider’s stock after purchasing an additional 53,994 shares during the quarter. Millennium Management LLC owned 0.11% of Compass Diversified worth $1,901,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Promus Capital LLC bought a new position in Compass Diversified during the fourth quarter worth $30,000. Millstone Evans Group LLC bought a new position in Compass Diversified during the fourth quarter worth $32,000. BankPlus Trust Department bought a new position in Compass Diversified during the fourth quarter worth $43,000. Sterling Capital Management LLC lifted its stake in Compass Diversified by 827.4% during the fourth quarter. Sterling Capital Management LLC now owns 2,133 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 1,903 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Compass Diversified by 46.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,055 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 976 shares during the last quarter. 72.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CODI has been the topic of a number of recent research reports. B. Riley cut Compass Diversified from a “buy” rating to a “neutral” rating and cut their target price for the company from $30.00 to $18.00 in a research note on Thursday, May 8th. William Blair reiterated an “outperform” rating on shares of Compass Diversified in a research note on Friday, February 28th.

Compass Diversified Price Performance

Shares of NYSE CODI opened at $6.51 on Tuesday. Compass Diversified has a fifty-two week low of $6.05 and a fifty-two week high of $24.59. The firm’s 50-day simple moving average is $13.61 and its 200 day simple moving average is $18.88. The company has a quick ratio of 1.62, a current ratio of 4.22 and a debt-to-equity ratio of 1.51. The stock has a market cap of $489.41 million, a P/E ratio of 13.55, a P/E/G ratio of 1.25 and a beta of 1.25.

Compass Diversified Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 17th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 15.37%. The ex-dividend date of this dividend was Thursday, April 17th. Compass Diversified’s payout ratio is currently -78.13%.

Compass Diversified 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.