Climb Global Solutions (NASDAQ:CLMB) Shares Scheduled to Split on Monday, March 23rd

Shares of Climb Global Solutions, Inc. (NASDAQ:CLMB) are set to split before the market opens on Monday, March 23rd. The 4-1 split was announced on Monday, March 2nd. The newly created shares will be issued to shareholders after the closing bell on Friday, March 20th.

Climb Global Solutions Stock Down 3.2%

Shares of NASDAQ:CLMB opened at $77.40 on Thursday. Climb Global Solutions has a twelve month low of $76.69 and a twelve month high of $145.02. The stock’s 50 day moving average is $108.53 and its 200-day moving average is $115.32. The firm has a market capitalization of $356.81 million, a price-to-earnings ratio of 16.65, a PEG ratio of 1.26 and a beta of 1.18.

Climb Global Solutions (NASDAQ:CLMB) last issued its earnings results on Wednesday, February 25th. The company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.27. Climb Global Solutions had a return on equity of 21.86% and a net margin of 3.27%.The company had revenue of $193.85 million for the quarter, compared to analysts’ expectations of $167.75 million. Equities research analysts anticipate that Climb Global Solutions will post 4.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CLMB. Wall Street Zen cut shares of Climb Global Solutions from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Barrington Research lowered their target price on shares of Climb Global Solutions from $136.00 to $120.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. Zacks Research raised shares of Climb Global Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings downgraded Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Climb Global Solutions presently has a consensus rating of “Hold” and an average target price of $120.00.

Insider Activity at Climb Global Solutions

In other news, CEO Dale Richard Foster sold 8,500 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $80.50, for a total value of $684,250.00. Following the completion of the sale, the chief executive officer owned 73,690 shares in the company, valued at $5,932,045. This represents a 10.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Climb Global Solutions

Institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Climb Global Solutions by 5.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,522 shares of the company’s stock valued at $279,000 after buying an additional 131 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Climb Global Solutions in the 1st quarter worth approximately $426,000. Geode Capital Management LLC grew its holdings in shares of Climb Global Solutions by 0.3% in the second quarter. Geode Capital Management LLC now owns 93,259 shares of the company’s stock valued at $9,972,000 after acquiring an additional 259 shares in the last quarter. Magnetar Financial LLC grew its holdings in shares of Climb Global Solutions by 15.6% in the second quarter. Magnetar Financial LLC now owns 4,164 shares of the company’s stock valued at $445,000 after acquiring an additional 562 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Climb Global Solutions by 221.5% during the second quarter. JPMorgan Chase & Co. now owns 32,914 shares of the company’s stock valued at $3,519,000 after acquiring an additional 22,676 shares during the last quarter. 49.72% of the stock is owned by institutional investors.

Climb Global Solutions Company Profile

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.