Truist Financial Corp Sells 4,400 Shares of Compass Diversified Holdings $CODI

Truist Financial Corp lowered its stake in Compass Diversified Holdings (NYSE:CODI) by 9.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,723 shares of the financial services provider’s stock after selling 4,400 shares during the period. Truist Financial Corp owned approximately 0.06% of Compass Diversified worth $311,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in Compass Diversified by 10.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,789,892 shares of the financial services provider’s stock valued at $88,709,000 after purchasing an additional 451,731 shares during the period. Bessemer Group Inc. bought a new position in Compass Diversified in the 1st quarter valued at approximately $37,000. Nuveen LLC purchased a new stake in Compass Diversified during the 1st quarter valued at $7,785,000. Lord Abbett & CO. LLC raised its stake in Compass Diversified by 3.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,608,556 shares of the financial services provider’s stock valued at $30,032,000 after buying an additional 49,276 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Compass Diversified during the 1st quarter valued at $777,000. Hedge funds and other institutional investors own 72.73% of the company’s stock.

Compass Diversified Stock Down 2.3%

Shares of CODI stock opened at $7.31 on Friday. The company’s 50 day moving average is $7.22 and its 200 day moving average is $8.86. Compass Diversified Holdings has a 52-week low of $5.98 and a 52-week high of $24.32. The firm has a market cap of $549.63 million, a price-to-earnings ratio of -5.71 and a beta of 1.08.

Wall Street Analyst Weigh In

CODI has been the subject of several analyst reports. Wall Street Zen lowered Compass Diversified from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Compass Diversified in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $26.00.

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.