Compass Diversified (NYSE:CODI) Shares Gap Up – Should You Buy?

Compass Diversified Holdings (NYSE:CODI) gapped up prior to trading on Friday . The stock had previously closed at $6.91, but opened at $7.30. Compass Diversified shares last traded at $7.2080, with a volume of 413,988 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Compass Diversified in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Compass Diversified from a “buy” rating to a “hold” rating in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.00.

Compass Diversified Trading Up 5.2%

The firm has a market capitalization of $546.97 million, a PE ratio of -5.65 and a beta of 1.06. The stock’s 50 day moving average price is $6.76 and its two-hundred day moving average price is $6.84.

Hedge Funds Weigh In On Compass Diversified

Institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC lifted its position in shares of Compass Diversified by 65.3% in the second quarter. Nisa Investment Advisors LLC now owns 5,043 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 1,992 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Compass Diversified by 29.0% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 6,548 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 1,471 shares in the last quarter. State of Wyoming purchased a new position in Compass Diversified in the 1st quarter valued at about $51,000. Geneos Wealth Management Inc. boosted its stake in shares of Compass Diversified by 68.6% during the 2nd quarter. Geneos Wealth Management Inc. now owns 9,830 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Focus Partners Wealth acquired a new stake in shares of Compass Diversified during the 3rd quarter worth about $70,000. 72.73% of the stock is owned by institutional investors and hedge funds.

Compass Diversified Company 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.