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    Jonathan

    Vice President and Senior Equity Research Analyst at TD Cowen

    Jonathan is a Vice President and Senior Equity Research Analyst at TD Cowen, specializing in technology and consumer sectors, with a focus on companies such as Apple, Tesla, and Google. Widely regarded for his thorough analysis and strong industry contacts, Jonathan has achieved a success rate of 62% and an average annualized return of 9.8% across his published investment calls, as independently tracked by TipRanks. Jonathan began his career at JP Morgan in 2012, transitioned to Cowen in 2017, and assumed his current role at TD Cowen following the merger in 2023. He holds FINRA Series 7 and 63 licenses and has been recognized for his work through industry awards and regular citations in major financial media.

    Jonathan's questions to Compass Diversified (CODI) leadership

    Jonathan's questions to Compass Diversified (CODI) leadership • Q3 2024

    Question

    An analyst named Jonathan from TD Cowen asked how the company prioritizes capital allocation between share buybacks, potential acquisitions, and debt management, particularly in the current environment of strong performance and decreasing interest rates.

    Answer

    Executive Elias Sabo explained that capital allocation is fluid, with the primary strategic goal being acquisitions to reach $1 billion of EBITDA. However, he stressed that when the stock price is at a significant discount to intrinsic value, buybacks become a priority. He also highlighted the ongoing raising of preferred capital as a flexible funding source for investments in Lugano, buybacks, acquisitions, or general deleveraging, noting that divestitures are also a tool to fund the strategic plan.

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