Readystate Asset Management LP Acquires New Holdings in Compass, Inc. $COMP

Readystate Asset Management LP acquired a new position in Compass, Inc. (NYSE:COMP) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 1,641,267 shares of the company’s stock, valued at approximately $20,237,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COMP. Wellington Management Group LLP acquired a new position in Compass during the 2nd quarter valued at about $41,838,000. Irenic Capital Management LP acquired a new stake in shares of Compass in the 2nd quarter worth approximately $22,156,000. Beaconlight Capital LLC acquired a new stake in shares of Compass in the 2nd quarter worth approximately $8,013,000. Fund 1 Investments LLC bought a new position in shares of Compass in the second quarter valued at approximately $2,837,000. Finally, Wedmont Private Capital bought a new position in shares of Compass in the second quarter valued at approximately $242,000. Institutional investors own 67.05% of the company’s stock.

Compass Stock Up 0.2%

COMP stock opened at $11.14 on Monday. Compass, Inc. has a 12 month low of $6.37 and a 12 month high of $13.95. The firm has a 50 day simple moving average of $11.89 and a 200 day simple moving average of $9.65. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 1.06.

Compass (NYSE:COMP) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.03. The firm had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.11 billion. Compass had a net margin of 0.63% and a return on equity of 3.62%. On average, research analysts anticipate that Compass, Inc. will post 0.24 EPS for the current year.

Insider Buying and Selling at Compass

In other news, CEO Robert Reffkin sold 23,456 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $11.70, for a total transaction of $274,435.20. Following the sale, the chief executive officer directly owned 7,757,748 shares of the company’s stock, valued at $90,765,651.60. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.85% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wells Fargo & Company boosted their target price on Compass from $12.00 to $13.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 5th. BTIG Research reaffirmed a “buy” rating on shares of Compass in a research note on Wednesday, July 15th. Barclays lifted their price target on Compass from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded Compass from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, August 21st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $15.00 target price on shares of Compass in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.15.

Compass Company Profile

Compass, Inc is a technology-driven real estate brokerage firm that provides a full suite of services for home buyers, sellers and renters. Utilizing a proprietary software platform, the company equips its network of licensed real estate agents with data analytics, marketing automation and client relationship tools designed to enhance efficiency and transaction transparency.

Founded in 2012 by Ori Allon and Robert Reffkin, Compass has grown from a single office in New York City to serve more than 300 markets across the United States.