Climb Global Solutions (NASDAQ:CLMB) Price Target Lowered to $68.00 at Barrington Research

Climb Global Solutions (NASDAQ:CLMB) had its price target lowered by Barrington Research from $76.00 to $68.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Climb Global Solutions Stock Performance

NASDAQ:CLMB opened at $58.38 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.09 and a quick ratio of 1.08. The company has a market cap of $267.96 million, a price-to-earnings ratio of 22.63, a PEG ratio of 2.02 and a beta of 0.98. Climb Global Solutions has a 1 year low of $37.67 and a 1 year high of $73.25. The stock’s 50 day simple moving average is $67.10 and its two-hundred day simple moving average is $57.37.

Climb Global Solutions (NASDAQ:CLMB) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.15). Climb Global Solutions had a net margin of 3.26% and a return on equity of 18.93%. The business had revenue of $92.42 million for the quarter, compared to analysts’ expectations of $105.44 million. During the same period in the previous year, the company earned $0.74 EPS. As a group, equities analysts anticipate that Climb Global Solutions will post 2.92 earnings per share for the current fiscal year.

Climb Global Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 13th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, May 10th. Climb Global Solutions’s payout ratio is 26.36%.

Insider Activity

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

Hedge Funds Weigh In On Climb Global Solutions

A number of large investors have recently bought and sold shares of the business. Wasatch Advisors LP lifted its position in shares of Climb Global Solutions by 1,836.3% during the fourth quarter. Wasatch Advisors LP now owns 103,203 shares of the company’s stock worth $5,659,000 after purchasing an additional 97,873 shares during the last quarter. Tieton Capital Management LLC bought a new stake in Climb Global Solutions during the 3rd quarter valued at about $4,007,000. Ballast Asset Management LP purchased a new stake in Climb Global Solutions in the 3rd quarter valued at about $2,753,000. Cove Street Capital LLC grew its stake in Climb Global Solutions by 34.0% in the 3rd quarter. Cove Street Capital LLC now owns 199,102 shares of the company’s stock worth $8,810,000 after acquiring an additional 50,499 shares in the last quarter. Finally, Foundry Partners LLC purchased a new position in shares of Climb Global Solutions during the third quarter worth approximately $1,572,000. Hedge funds and other institutional investors own 49.72% of the company’s stock.

About Climb Global Solutions

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.