Barrington Research Reaffirms “Outperform” Rating for Climb Global Solutions (NASDAQ:CLMB)

Barrington Research reissued their outperform rating on shares of Climb Global Solutions (NASDAQ:CLMB) in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a $136.00 price target on the stock.

Climb Global Solutions Trading Up 0.1%

Shares of NASDAQ:CLMB opened at $109.81 on Tuesday. The firm has a 50 day moving average of $108.76 and a 200-day moving average of $120.13. The stock has a market capitalization of $505.35 million, a PE ratio of 29.76, a PEG ratio of 1.74 and a beta of 1.12. Climb Global Solutions has a 12 month low of $49.70 and a 12 month high of $145.00.

Climb Global Solutions (NASDAQ:CLMB) last issued its earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.03). The firm had revenue of $138.04 million during the quarter, compared to analyst estimates of $96.86 million. Climb Global Solutions had a net margin of 4.11% and a return on equity of 23.63%. On average, research analysts predict that Climb Global Solutions will post 4.14 EPS for the current fiscal year.

Climb Global Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Monday, May 12th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Monday, May 12th. Climb Global Solutions’s payout ratio is presently 15.93%.

Insider Activity

In related news, insider Charles Edward Bass sold 8,117 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $124.71, for a total transaction of $1,012,271.07. Following the completion of the transaction, the insider now directly owns 25,792 shares in the company, valued at $3,216,520.32. This represents a 23.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Greg Scorziello sold 5,767 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $100.63, for a total transaction of $580,333.21. Following the transaction, the director now owns 1,774 shares of the company’s stock, valued at approximately $178,517.62. This represents a 76.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,531 shares of company stock worth $3,379,759. 9.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Climb Global Solutions

Institutional investors have recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. increased its position in Climb Global Solutions by 28.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 440 shares of the company’s stock worth $56,000 after purchasing an additional 97 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Climb Global Solutions by 200.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 477 shares of the company’s stock worth $60,000 after purchasing an additional 318 shares in the last quarter. State of Wyoming acquired a new position in Climb Global Solutions during the 4th quarter worth approximately $64,000. MeadowBrook Investment Advisors LLC acquired a new position in Climb Global Solutions during the 4th quarter worth approximately $120,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in Climb Global Solutions during the 4th quarter worth approximately $209,000. 49.72% of the stock is currently owned by institutional investors and hedge funds.

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.