CompoSecure (NASDAQ:CMPO) Shares Up 6.9% on Analyst Upgrade

CompoSecure, Inc. (NASDAQ:CMPO)’s share price rose 6.9% on Tuesday after Benchmark raised their price target on the stock from $24.00 to $32.00. Benchmark currently has a buy rating on the stock. CompoSecure traded as high as $21.86 and last traded at $21.9570. Approximately 710,911 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 931,276 shares. The stock had previously closed at $20.54.

CMPO has been the subject of a number of other reports. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $16.00 price objective on shares of CompoSecure in a research note on Wednesday, August 20th. Needham & Company LLC boosted their price target on shares of CompoSecure from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, B. Riley restated a “buy” rating and set a $23.00 price target (up from $17.00) on shares of CompoSecure in a research report on Monday, August 18th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.50.

Insider Buying and Selling at CompoSecure

In other CompoSecure news, CFO Timothy Walter Fitzsimmons sold 100,000 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $18.74, for a total value of $1,874,000.00. Following the completion of the sale, the chief financial officer directly owned 759,789 shares of the company’s stock, valued at $14,238,445.86. The trade was a 11.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Gregoire Maes sold 97,226 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $19.36, for a total transaction of $1,882,295.36. Following the transaction, the chief operating officer directly owned 779,062 shares of the company’s stock, valued at approximately $15,082,640.32. This trade represents a 11.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 217,125 shares of company stock valued at $4,139,550. Company insiders own 52.10% of the company’s stock.

Hedge Funds Weigh In On CompoSecure

Several hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in CompoSecure by 82.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 62,563 shares of the company’s stock worth $684,000 after purchasing an additional 28,281 shares during the period. Jump Financial LLC bought a new position in shares of CompoSecure in the first quarter worth approximately $1,120,000. Mackenzie Financial Corp bought a new position in shares of CompoSecure in the first quarter worth approximately $568,000. Vanguard Group Inc. lifted its stake in shares of CompoSecure by 65.7% in the first quarter. Vanguard Group Inc. now owns 2,337,323 shares of the company’s stock worth $25,407,000 after buying an additional 926,389 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in shares of CompoSecure in the first quarter worth approximately $1,480,000. 37.56% of the stock is owned by institutional investors.

CompoSecure Price Performance

The stock has a market cap of $2.26 billion, a P/E ratio of -13.22 and a beta of 0.97. The firm’s 50 day moving average price is $19.86 and its 200-day moving average price is $16.10.

CompoSecure Company Profile

CompoSecure, Inc manufactures and designs metal, composite, and proprietary financial transaction cards in the United States and internationally. Its primary metal form factors include embedded, metal veneer lite, metal veneer, and full metal products. The company also offers Arculus Cold Storage Wallet, a three-factor authentication solution, which supports specific digital assets, including Bitcoin, Ethereum, non-fungible tokens and others.