Barrington Research Cuts Climb Global Solutions (NASDAQ:CLMB) Price Target to $68.00

Climb Global Solutions (NASDAQ:CLMB) had its price target lowered by Barrington Research from $76.00 to $68.00 in a report published on Monday, Benzinga reports. Barrington Research currently has an outperform rating on the stock. Barrington Research also issued estimates for Climb Global Solutions’ Q3 2024 earnings at $0.84 EPS and Q4 2024 earnings at $0.96 EPS.

Climb Global Solutions Stock Down 0.9 %

Shares of CLMB opened at $56.36 on Monday. The stock’s 50-day moving average price is $67.00 and its 200-day moving average price is $57.46. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $258.41 million, a price-to-earnings ratio of 21.84, a PEG ratio of 2.02 and a beta of 0.98. Climb Global Solutions has a 52 week low of $37.67 and a 52 week high of $73.25.

Climb Global Solutions (NASDAQ:CLMB) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.15). The company had revenue of $92.42 million during the quarter, compared to analysts’ expectations of $105.44 million. Climb Global Solutions had a return on equity of 18.93% and a net margin of 3.26%. During the same quarter in the prior year, the company posted $0.74 EPS. On average, sell-side analysts predict that Climb Global Solutions will post 2.92 EPS for the current year.

Climb Global Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 13th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.21%. The ex-dividend date is Friday, May 10th. Climb Global Solutions’s payout ratio is 26.36%.

Insider Transactions at Climb Global Solutions

In other Climb Global Solutions news, CMO Charles Edward Bass sold 500 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $65.05, for a total value of $32,525.00. Following the completion of the sale, the chief marketing officer now directly owns 37,097 shares in the company, valued at approximately $2,413,159.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Dale Richard Foster sold 3,500 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $65.49, for a total value of $229,215.00. Following the sale, the chief executive officer now owns 102,092 shares in the company, valued at approximately $6,686,005.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Charles Edward Bass sold 500 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $65.05, for a total transaction of $32,525.00. Following the sale, the chief marketing officer now directly owns 37,097 shares in the company, valued at $2,413,159.85. The disclosure for this sale can be found here. Corporate insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On Climb Global Solutions

Several large investors have recently bought and sold shares of CLMB. Russell Investments Group Ltd. grew its position in shares of Climb Global Solutions by 14.1% during the first quarter. Russell Investments Group Ltd. now owns 9,343 shares of the company’s stock worth $662,000 after buying an additional 1,155 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Climb Global Solutions by 7.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 18,882 shares of the company’s stock worth $1,338,000 after acquiring an additional 1,323 shares in the last quarter. Albert D Mason Inc. grew its holdings in Climb Global Solutions by 0.5% during the 1st quarter. Albert D Mason Inc. now owns 44,303 shares of the company’s stock worth $3,140,000 after acquiring an additional 233 shares in the last quarter. Wasatch Advisors LP increased its position in shares of Climb Global Solutions by 41.8% in the 1st quarter. Wasatch Advisors LP now owns 146,298 shares of the company’s stock valued at $10,370,000 after purchasing an additional 43,095 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Climb Global Solutions by 94.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 505 shares of the company’s stock valued at $28,000 after purchasing an additional 245 shares in the last quarter. Hedge funds and other institutional investors 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.