Climb Global Solutions (NASDAQ:CLMB) Shares Down 2.6% – Here’s What Happened

Climb Global Solutions, Inc. (NASDAQ:CLMB) dropped 2.6% during trading on Thursday . The stock traded as low as $125.35 and last traded at $125.35. Approximately 15,761 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 21,075 shares. The stock had previously closed at $128.74.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reissued an “outperform” rating and issued a $136.00 price objective on shares of Climb Global Solutions in a research report on Thursday, December 12th.

Climb Global Solutions Stock Down 2.6 %

The firm has a market capitalization of $577.49 million, a price-to-earnings ratio of 33.97, a P/E/G ratio of 1.92 and a beta of 1.13. The business has a 50-day moving average of $122.77 and a two-hundred day moving average of $94.46.

Climb Global Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 11th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.54%. Climb Global Solutions’s payout ratio is 18.43%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. New York State Teachers Retirement System bought a new stake in Climb Global Solutions in the third quarter valued at $38,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Climb Global Solutions during the 3rd quarter worth about $126,000. Quantbot Technologies LP bought a new position in Climb Global Solutions during the 3rd quarter valued at about $147,000. SG Americas Securities LLC acquired a new position in Climb Global Solutions in the third quarter valued at about $159,000. Finally, Kovitz Investment Group Partners LLC bought a new stake in Climb Global Solutions during the third quarter worth about $222,000. Institutional investors and hedge funds own 49.72% of the company’s stock.

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.