Irenic Capital Management LP Acquires New Shares in Compass, Inc. $COMP

Irenic Capital Management LP acquired a new stake in shares of Compass, Inc. (NYSE:COMP) during the second quarter, according to its most recent filing with the SEC. The fund acquired 1,796,898 shares of the company’s stock, valued at approximately $22,156,000. Compass accounts for approximately 1.1% of Irenic Capital Management LP’s investment portfolio, making the stock its 22nd biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in Compass in the 2nd quarter worth about $41,838,000. Beaconlight Capital LLC bought a new stake in shares of Compass during the second quarter valued at about $8,013,000. Fund 1 Investments LLC bought a new stake in shares of Compass during the second quarter valued at about $2,837,000. Finally, Nykredit A S purchased a new stake in shares of Compass in the second quarter worth about $77,000. Hedge funds and other institutional investors own 67.05% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Oppenheimer raised their price objective on shares of Compass from $15.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. BTIG Research reaffirmed a “buy” rating on shares of Compass in a report on Wednesday, July 15th. The Goldman Sachs Group increased their target price on shares of Compass from $10.50 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Zacks Research downgraded shares of Compass from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Finally, Wells Fargo & Company boosted their price target on shares of Compass from $12.00 to $13.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $14.15.

Insiders Place Their Bets

In related news, CEO Robert Reffkin sold 23,456 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $11.70, for a total value 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. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.85% of the stock is owned by corporate insiders.

Compass Stock Performance

NYSE:COMP opened at $11.14 on Friday. The business’s 50-day moving average price is $11.89 and its two-hundred day moving average price is $9.66. Compass, Inc. has a twelve month low of $6.37 and a twelve month high of $13.95. The stock has a market cap of $8.44 billion, a P/E ratio of 185.67 and a beta of 2.32. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.05.

Compass (NYSE:COMP) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. Compass had a return on equity of 3.62% and a net margin of 0.63%.The firm had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.11 billion. As a group, equities analysts predict that Compass, Inc. will post 0.24 EPS for the current fiscal year.

About Compass

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.