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

Shares of Climb Global Solutions, Inc. (NASDAQ:CLMB) have been assigned an average rating of “Moderate Buy” from the five analysts that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $31.00.

Several analysts recently issued reports on the stock. Northcoast Research raised shares of Climb Global Solutions to a “strong-buy” rating in a report on Monday, March 23rd. Northland Securities began coverage on shares of Climb Global Solutions in a research note on Monday, March 23rd. They set an “outperform” rating and a $32.00 price objective on the stock. Barrington Research reiterated an “outperform” rating and set a $30.00 price objective on shares of Climb Global Solutions in a research note on Tuesday, May 5th. Weiss Ratings downgraded shares of Climb Global Solutions from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen downgraded shares of Climb Global Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd.

Climb Global Solutions Stock Up 4.1%

Shares of NASDAQ:CLMB opened at $23.82 on Friday. Climb Global Solutions has a 52-week low of $15.24 and a 52-week high of $36.26. The company has a 50 day moving average of $20.98 and a two-hundred day moving average of $24.54. The company has a market capitalization of $443.05 million, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 1.50 and a beta of 1.09.

Climb Global Solutions (NASDAQ:CLMB) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $182.38 million during the quarter, compared to analyst estimates of $151.33 million. On average, equities analysts anticipate that Climb Global Solutions will post 1.32 earnings per share for the current year.

Insiders Place Their Bets

In other Climb Global Solutions news, Director John R. Mccarthy acquired 4,000 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was purchased at an average price of $18.83 per share, with a total value of $75,320.00. Following the completion of the acquisition, the director directly owned 85,876 shares in the company, valued at $1,617,045.08. This trade represents a 4.89% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Dale Richard Foster sold 34,000 shares of Climb Global Solutions stock in a transaction on Monday, March 16th. The stock was sold at an average price of $20.13, for a total transaction of $684,250.00. Following the completion of the transaction, the chief executive officer directly owned 294,760 shares of the company’s stock, valued at approximately $5,932,045. This represents a 10.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Climb Global Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wasatch Advisors LP lifted its stake in shares of Climb Global Solutions by 116.1% in the 1st quarter. Wasatch Advisors LP now owns 607,680 shares of the company’s stock worth $12,044,000 after acquiring an additional 326,520 shares during the period. Punch & Associates Investment Management Inc. increased its stake in shares of Climb Global Solutions by 309.5% during the first quarter. Punch & Associates Investment Management Inc. now owns 551,665 shares of the company’s stock valued at $10,934,000 after acquiring an additional 416,948 shares during the period. Renaissance Technologies LLC increased its stake in shares of Climb Global Solutions by 311.9% during the first quarter. Renaissance Technologies LLC now owns 536,213 shares of the company’s stock valued at $10,628,000 after acquiring an additional 406,017 shares during the period. Dimensional Fund Advisors LP raised its holdings in Climb Global Solutions by 315.0% during the first quarter. Dimensional Fund Advisors LP now owns 423,197 shares of the company’s stock worth $8,387,000 after purchasing an additional 321,215 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Climb Global Solutions by 845.5% during the first quarter. Sei Investments Co. now owns 418,908 shares of the company’s stock worth $8,303,000 after purchasing an additional 374,601 shares in the last quarter. 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.