CompoSecure, Inc. (NASDAQ:CMPO) is Cannell Capital LLC’s 5th Largest Position

Cannell Capital LLC boosted its holdings in CompoSecure, Inc. (NASDAQ:CMPO) by 8.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,278,726 shares of the company’s stock after acquiring an additional 169,067 shares during the period. CompoSecure accounts for 7.2% of Cannell Capital LLC’s investment portfolio, making the stock its 5th largest holding. Cannell Capital LLC’s holdings in CompoSecure were worth $34,933,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Legal & General Group Plc increased its position in CompoSecure by 629.0% during the fourth quarter. Legal & General Group Plc now owns 18,961 shares of the company’s stock worth $291,000 after buying an additional 16,360 shares in the last quarter. Invesco Ltd. raised its stake in CompoSecure by 1,072.1% in the 4th quarter. Invesco Ltd. now owns 723,122 shares of the company’s stock valued at $11,085,000 after purchasing an additional 661,426 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of CompoSecure by 27.4% during the fourth quarter. Russell Investments Group Ltd. now owns 168,113 shares of the company’s stock worth $2,577,000 after buying an additional 36,142 shares in the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of CompoSecure in the fourth quarter valued at approximately $180,000. Finally, Wells Fargo & Company MN raised its position in shares of CompoSecure by 60.9% in the fourth quarter. Wells Fargo & Company MN now owns 12,985 shares of the company’s stock valued at $199,000 after buying an additional 4,916 shares during the last quarter. 37.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CMPO has been the subject of several research reports. Lake Street Capital lowered their price objective on shares of CompoSecure from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Needham & Company LLC cut their price target on shares of CompoSecure from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. TD Cowen initiated coverage on shares of CompoSecure in a research note on Wednesday, December 18th. They set a “buy” rating and a $20.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their target price on shares of CompoSecure from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.19.

Insider Activity

In other CompoSecure news, insider Adam Joseph Lowe sold 18,818 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $10.97, for a total transaction of $206,433.46. Following the completion of the transaction, the insider now directly owns 1,486,036 shares of the company’s stock, valued at approximately $16,301,814.92. This trade represents a 1.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Resolute Compo Holdings Llc acquired 221,186 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was purchased at an average cost of $15.01 per share, for a total transaction of $3,320,001.86. Following the purchase, the director now directly owns 221,186 shares in the company, valued at approximately $3,320,001.86. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 704,421 shares of company stock valued at $10,929,922 and sold 34,340 shares valued at $430,701. Corporate insiders own 74.99% of the company’s stock.

CompoSecure Stock Up 0.9 %

Shares of NASDAQ:CMPO opened at $10.02 on Tuesday. The firm has a 50-day simple moving average of $13.32 and a 200 day simple moving average of $14.45. CompoSecure, Inc. has a fifty-two week low of $5.98 and a fifty-two week high of $17.71. The company has a market cap of $1.03 billion, a PE ratio of -22.77, a P/E/G ratio of 2.63 and a beta of 0.87.

About CompoSecure

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.