Climb Global Solutions’ (CLMB) “Outperform” Rating Reiterated at Barrington Research

Barrington Research reiterated their outperform rating on shares of Climb Global Solutions (NASDAQ:CLMB) in a research report sent to investors on Tuesday morning, Benzinga reports. Barrington Research currently has a $76.00 target price on the stock.

Climb Global Solutions Stock Performance

NASDAQ:CLMB opened at $58.84 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 1.07. The stock has a market capitalization of $270.66 million, a PE ratio of 22.81, a P/E/G ratio of 2.26 and a beta of 0.98. Climb Global Solutions has a fifty-two week low of $37.67 and a fifty-two week high of $73.25. The company has a fifty day moving average of $67.15 and a two-hundred day moving average of $56.99.

Climb Global Solutions (NASDAQ:CLMB) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.15). Climb Global Solutions had a return on equity of 19.38% and a net margin of 3.26%. The company had revenue of $92.42 million for the quarter, compared to analyst estimates of $105.44 million. During the same quarter last year, the company earned $0.74 EPS. As a group, research analysts forecast that Climb Global Solutions will post 2.92 earnings per share for the current fiscal year.

Climb Global Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 13th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.68 dividend on an annualized basis and a yield of 1.16%. Climb Global Solutions’s payout ratio is presently 26.36%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Climb Global Solutions

A number of institutional investors have recently made changes to their positions in CLMB. Cove Street Capital LLC boosted its position in shares of Climb Global Solutions by 34.0% during the 3rd quarter. Cove Street Capital LLC now owns 199,102 shares of the company’s stock worth $8,810,000 after purchasing an additional 50,499 shares during the period. Punch & Associates Investment Management Inc. boosted its position in shares of Climb Global Solutions by 16.0% during the third quarter. Punch & Associates Investment Management Inc. now owns 168,966 shares of the company’s stock worth $7,267,000 after buying an additional 23,279 shares during the period. Wasatch Advisors LP grew its stake in shares of Climb Global Solutions by 41.8% in the first quarter. Wasatch Advisors LP now owns 146,298 shares of the company’s stock valued at $10,370,000 after buying an additional 43,095 shares in the last quarter. Tieton Capital Management LLC raised its holdings in shares of Climb Global Solutions by 32.5% in the 4th quarter. Tieton Capital Management LLC now owns 123,404 shares of the company’s stock valued at $6,766,000 after buying an additional 30,248 shares during the period. Finally, Ballast Asset Management LP acquired a new position in Climb Global Solutions during the 3rd quarter worth about $2,753,000. 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.