Wasatch Advisors LP Acquires 326,520 Shares of Climb Global Solutions, Inc. $CLMB

Wasatch Advisors LP raised its holdings in shares of Climb Global Solutions, Inc. (NASDAQ:CLMB) by 116.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 607,680 shares of the company’s stock after purchasing an additional 326,520 shares during the period. Wasatch Advisors LP owned approximately 3.30% of Climb Global Solutions worth $12,044,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Pinnacle Wealth Management Advisory Group LLC raised its stake in shares of Climb Global Solutions by 171.4% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 14,456 shares of the company’s stock worth $287,000 after purchasing an additional 9,130 shares during the last quarter. Evolve Private Wealth LLC boosted its position in shares of Climb Global Solutions by 323.3% during the first quarter. Evolve Private Wealth LLC now owns 21,802 shares of the company’s stock valued at $432,000 after buying an additional 16,652 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Climb Global Solutions by 77,066.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,315 shares of the company’s stock valued at $238,000 after buying an additional 2,312 shares during the last quarter. Beacon Pointe Advisors LLC increased its holdings in Climb Global Solutions by 5.5% in the 4th quarter. Beacon Pointe Advisors LLC now owns 3,170 shares of the company’s stock worth $326,000 after buying an additional 164 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Climb Global Solutions in the 4th quarter worth about $325,000. 49.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Climb Global Solutions

In other news, Director John R. Mccarthy bought 4,000 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was bought 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 represents a 4.89% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CLMB shares. Northcoast Research raised Climb Global Solutions to a “strong-buy” rating in a research report on Monday, March 23rd. Barrington Research reaffirmed an “outperform” rating and set a $30.00 price target on shares of Climb Global Solutions in a report on Tuesday, May 5th. Wall Street Zen lowered shares of Climb Global Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Weiss Ratings cut shares of Climb Global Solutions from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Finally, Northland Securities started coverage on shares of Climb Global Solutions in a research report on Monday, March 23rd. They set an “outperform” rating and a $32.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Climb Global Solutions has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Climb Global Solutions Stock Up 0.9%

NASDAQ CLMB opened at $22.34 on Friday. Climb Global Solutions, Inc. has a 52 week low of $15.24 and a 52 week high of $36.26. The company has a market capitalization of $415.52 million, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 1.41 and a beta of 1.09. The stock’s 50-day moving average price is $21.49 and its 200-day moving average price is $24.21.

Climb Global Solutions (NASDAQ:CLMB) last released its earnings results 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). The firm had revenue of $182.38 million during the quarter, compared to analysts’ expectations of $151.33 million. Climb Global Solutions had a return on equity of 20.43% and a net margin of 3.01%. Research analysts anticipate that Climb Global Solutions, Inc. will post 1.32 EPS for the current year.

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.