Climb Global Solutions, Inc. (NASDAQ:CLMB) Sees Large Growth in Short Interest

Climb Global Solutions, Inc. (NASDAQ:CLMB) saw a large increase in short interest in April. As of April 15th, there was short interest totalling 127,200 shares, an increase of 23.3% from the March 31st total of 103,200 shares. Based on an average daily trading volume, of 31,400 shares, the days-to-cover ratio is currently 4.1 days. Approximately 3.3% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $136.00 target price on shares of Climb Global Solutions in a report on Thursday, April 24th.

Insiders Place Their Bets

In other Climb Global Solutions news, Director Andrew S. Bryant sold 2,604 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $122.00, for a total value of $317,688.00. Following the transaction, the director now directly owns 6,274 shares in the company, valued at $765,428. This represents a 29.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Dale Richard Foster sold 2,000 shares of Climb Global Solutions stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $110.46, for a total transaction of $220,920.00. Following the sale, the chief executive officer now owns 82,740 shares in the company, valued at $9,139,460.40. This represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,764 shares of company stock worth $2,799,426 in the last ninety days. 9.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

Climb Global Solutions Stock Up 0.7 %

Shares of NASDAQ:CLMB opened at $101.27 on Friday. The stock’s fifty day simple moving average is $111.02 and its 200-day simple moving average is $120.09. Climb Global Solutions has a 52-week low of $49.70 and a 52-week high of $145.00. The company has a market capitalization of $466.55 million, a P/E ratio of 27.44, a P/E/G ratio of 1.74 and a beta of 1.13.

Climb Global Solutions (NASDAQ:CLMB) last released 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 business 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, sell-side analysts anticipate that Climb Global Solutions will post 4.14 earnings per share for the current year.

Climb Global Solutions Announces Dividend

The business 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 0.67%. The ex-dividend date of this dividend is Monday, May 12th. Climb Global Solutions’s payout ratio is 16.75%.

About Climb Global Solutions

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.