Citadel Advisors LLC Sells 8,422 Shares of Climb Global Solutions, Inc. (NASDAQ:CLMB)

Citadel Advisors LLC lessened its stake in shares of Climb Global Solutions, Inc. (NASDAQ:CLMB) by 42.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,343 shares of the company’s stock after selling 8,422 shares during the period. Citadel Advisors LLC owned 0.25% of Climb Global Solutions worth $1,438,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CLMB. JPMorgan Chase & Co. lifted its position in shares of Climb Global Solutions by 309.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,558 shares of the company’s stock valued at $752,000 after acquiring an additional 5,711 shares during the period. SG Americas Securities LLC raised its stake in Climb Global Solutions by 21.4% in the fourth quarter. SG Americas Securities LLC now owns 1,936 shares of the company’s stock valued at $245,000 after purchasing an additional 341 shares in the last quarter. Flagship Harbor Advisors LLC bought a new stake in Climb Global Solutions during the fourth quarter worth about $250,000. Choreo LLC grew its stake in Climb Global Solutions by 2.7% during the fourth quarter. Choreo LLC now owns 76,828 shares of the company’s stock worth $9,725,000 after buying an additional 2,002 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC bought a new position in Climb Global Solutions in the 4th quarter valued at about $120,000. 49.72% of the stock is owned by institutional investors and hedge funds.

Climb Global Solutions Price Performance

NASDAQ CLMB opened at $104.97 on Monday. The business has a fifty day moving average price of $107.10 and a two-hundred day moving average price of $120.15. The stock has a market capitalization of $483.07 million, a PE ratio of 28.45, a PEG ratio of 1.74 and a beta of 1.12. Climb Global Solutions, Inc. has a fifty-two week low of $54.00 and a fifty-two week high of $145.00.

Climb Global Solutions (NASDAQ:CLMB) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.03). The business had revenue of $138.04 million for the quarter, compared to analyst estimates of $96.86 million. Climb Global Solutions had a return on equity of 23.63% and a net margin of 4.11%. As a group, sell-side analysts expect that Climb Global Solutions, Inc. 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 was paid on Friday, May 16th. Stockholders of record on Monday, May 12th were issued a $0.17 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.65%. Climb Global Solutions’s dividend payout ratio (DPR) is currently 15.93%.

Analyst Ratings Changes

Separately, Barrington Research reaffirmed an “outperform” rating and set a $136.00 price target on shares of Climb Global Solutions in a report on Tuesday, May 13th.

Insider Activity

In related news, insider Charles Edward Bass sold 8,117 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $124.71, for a total transaction of $1,012,271.07. Following the sale, the insider now owns 25,792 shares of the company’s stock, valued at $3,216,520.32. This trade represents a 23.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Greg Scorziello sold 5,767 shares of the business’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $100.63, for a total value of $580,333.21. Following the sale, the director now owns 1,774 shares in the company, valued at $178,517.62. This represents a 76.48% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,531 shares of company stock worth $3,379,759. Corporate insiders own 6.10% of the company’s stock.

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.