Climb Global Solutions, Inc. (NASDAQ:CLMB) Given Average Recommendation of “Moderate Buy” by Analysts

Climb Global Solutions, Inc. (NASDAQ:CLMB) has received a consensus recommendation of “Moderate Buy” from the five analysts that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $31.00.

CLMB has been the topic of a number of analyst reports. Barrington Research reissued an “outperform” rating and issued a $30.00 price target on shares of Climb Global Solutions in a research note on Tuesday, May 5th. Northland Securities initiated coverage on Climb Global Solutions in a report on Monday, March 23rd. They issued an “outperform” rating and a $32.00 price objective for the company. Northcoast Research raised Climb Global Solutions to a “strong-buy” rating in a research note on Monday, March 23rd. Wall Street Zen cut Climb Global Solutions from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings lowered Climb Global Solutions from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th.

Insider Activity at Climb Global Solutions

In related news, CEO Dale Richard Foster sold 34,000 shares of Climb Global Solutions stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $20.13, for a total transaction of $684,250.00. Following the transaction, the chief executive officer owned 294,760 shares of the company’s stock, valued at $5,932,045. This trade represents a 10.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John R. Mccarthy acquired 4,000 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were purchased at an average price of $18.83 per share, with a total value of $75,320.00. Following the acquisition, the director owned 85,876 shares of the company’s stock, valued at approximately $1,617,045.08. This trade represents a 4.89% increase in their position. The SEC filing for this purchase provides additional information. 3.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Climb Global Solutions

Several institutional investors and hedge funds have recently made changes to their positions in CLMB. State of Alaska Department of Revenue bought a new stake in shares of Climb Global Solutions in the 3rd quarter valued at $27,000. Global Retirement Partners LLC acquired a new stake in Climb Global Solutions during the 4th quarter worth $36,000. Bard Associates Inc. bought a new position in Climb Global Solutions during the fourth quarter worth about $55,000. Tower Research Capital LLC TRC lifted its holdings in Climb Global Solutions by 317.3% during the second quarter. Tower Research Capital LLC TRC now owns 555 shares of the company’s stock worth $59,000 after acquiring an additional 422 shares in the last quarter. Finally, Peterson Wealth Services grew its stake in Climb Global Solutions by 3,267.0% in the first quarter. Peterson Wealth Services now owns 3,569 shares of the company’s stock valued at $71,000 after acquiring an additional 3,463 shares during the period. Institutional investors and hedge funds own 49.72% of the company’s stock.

Climb Global Solutions Price Performance

CLMB opened at $19.28 on Wednesday. The firm has a 50 day simple moving average of $20.84 and a 200 day simple moving average of $25.56. Climb Global Solutions has a fifty-two week low of $15.24 and a fifty-two week high of $36.26. The company has a market cap of $358.55 million, a price-to-earnings ratio of 16.91, a price-to-earnings-growth ratio of 1.25 and a beta of 1.00.

Climb Global Solutions (NASDAQ:CLMB) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). Climb Global Solutions had a net margin of 3.01% and a return on equity of 20.43%. The business had revenue of $182.38 million during the quarter, compared to the consensus estimate of $151.33 million. As a group, analysts expect that Climb Global Solutions will post 1.32 EPS for the current year.

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.