Climb Global Solutions, Inc. (NASDAQ:CLMB) Sees Significant Growth in Short Interest

Climb Global Solutions, Inc. (NASDAQ:CLMBGet Free Report) was the recipient of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 57,000 shares, an increase of 10.0% from the February 29th total of 51,800 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average daily trading volume, of 10,600 shares, the short-interest ratio is currently 5.4 days.

Climb Global Solutions Price Performance

Shares of NASDAQ CLMB opened at $69.75 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 1.07. The company has a market cap of $318.76 million, a PE ratio of 25.64, a P/E/G ratio of 2.36 and a beta of 0.95. The business has a 50-day simple moving average of $63.20 and a two-hundred day simple moving average of $53.46. Climb Global Solutions has a fifty-two week low of $37.67 and a fifty-two week high of $73.25.

Climb Global Solutions (NASDAQ:CLMBGet Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.47. The business had revenue of $106.78 million during the quarter, compared to the consensus estimate of $88.99 million. Climb Global Solutions had a return on equity of 20.65% and a net margin of 3.50%. As a group, equities analysts expect that Climb Global Solutions will post 2.92 EPS for the current fiscal year.

Climb Global Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 11th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Friday, March 8th. Climb Global Solutions’s dividend payout ratio (DPR) is 25.00%.

Wall Street Analysts Forecast Growth

Separately, Barrington Research raised their price target on Climb Global Solutions from $48.00 to $76.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th.

View Our Latest Stock Report on Climb Global Solutions

Insider Activity

In other news, CMO Charles Edward Bass sold 500 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $65.05, for a total transaction of $32,525.00. Following the transaction, the chief marketing officer now owns 37,097 shares in the company, valued at $2,413,159.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Dale Richard Foster sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $65.49, for a total transaction of $229,215.00. Following the sale, the chief executive officer now owns 102,092 shares of the company’s stock, valued at $6,686,005.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Charles Edward Bass sold 500 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $65.05, for a total value of $32,525.00. Following the sale, the chief marketing officer now directly owns 37,097 shares in the company, valued at approximately $2,413,159.85. The disclosure for this sale can be found here. Insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On Climb Global Solutions

Institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its holdings in shares of Climb Global Solutions by 94.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 505 shares of the company’s stock worth $28,000 after purchasing an additional 245 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Climb Global Solutions during the first quarter worth about $41,000. Bank of America Corp DE acquired a new stake in shares of Climb Global Solutions during the first quarter worth about $43,000. California State Teachers Retirement System acquired a new stake in shares of Climb Global Solutions during the second quarter worth about $66,000. Finally, UBS Group AG acquired a new stake in shares of Climb Global Solutions during the first quarter worth about $85,000. Institutional investors and hedge funds own 49.72% of the company’s stock.

Climb Global Solutions Company Profile

(Get Free Report)

Climb Global Solutions Inc operates as a value-added information technology (IT) distribution and solutions company in the United States, Canada, Europe, the United Kingdom, and internationally. It operates in two segments, Distribution and Solutions. The company distributes technical software to corporate and value-added resellers, consultants, and systems integrators under the name Climb Channel Solutions; and provides cloud solutions and resells software, hardware, and services under the name Grey Matter.

Further Reading

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