Climb Global Solutions (NASDAQ:CLMB) Now Covered by Northland Securities

Northland Securities initiated coverage on shares of Climb Global Solutions (NASDAQ:CLMB) in a report released on Monday, Marketbeat.com reports. The brokerage issued an outperform rating and a $32.00 price target on the stock.

Other equities research analysts have also issued reports about the company. Weiss Ratings lowered Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Zacks Research raised shares of Climb Global Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Wall Street Zen cut shares of Climb Global Solutions from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Finally, Barrington Research reduced their price target on shares of Climb Global Solutions from $34.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $31.00.

Climb Global Solutions Stock Performance

Shares of Climb Global Solutions stock opened at $20.01 on Monday. Climb Global Solutions has a 1 year low of $18.91 and a 1 year high of $36.26. The firm’s 50-day simple moving average is $26.55 and its 200-day simple moving average is $28.56. The firm has a market cap of $92.25 million, a PE ratio of 4.30, a price-to-earnings-growth ratio of 1.24 and a beta of 1.18.

Climb Global Solutions (NASDAQ:CLMB) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.06. The business had revenue of $193.85 million during the quarter, compared to the consensus estimate of $167.75 million. Climb Global Solutions had a return on equity of 21.86% and a net margin of 3.27%. On average, equities analysts predict that Climb Global Solutions will post 4.14 earnings per share for the current year.

Insider Activity

In other news, CEO Dale Richard Foster sold 34,000 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $20.13, for a total transaction of $684,250.00. Following the completion of the transaction, the chief executive officer owned 294,760 shares in the company, valued at approximately $5,932,045. This represents a 10.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.10% of the company’s stock.

Institutional Trading of Climb Global Solutions

Several hedge funds have recently bought and sold shares of the company. AltraVue Capital LLC acquired a new stake in shares of Climb Global Solutions in the 3rd quarter worth approximately $13,817,000. Wasatch Advisors LP boosted its holdings in shares of Climb Global Solutions by 29.5% in the second quarter. Wasatch Advisors LP now owns 281,131 shares of the company’s stock valued at $30,056,000 after acquiring an additional 63,975 shares in the last quarter. Invesco Ltd. increased its stake in shares of Climb Global Solutions by 2,446.4% during the third quarter. Invesco Ltd. now owns 65,263 shares of the company’s stock valued at $8,800,000 after acquiring an additional 62,700 shares during the period. Tieton Capital Management LLC raised its holdings in Climb Global Solutions by 83.9% during the fourth quarter. Tieton Capital Management LLC now owns 111,984 shares of the company’s stock worth $11,511,000 after purchasing an additional 51,088 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in Climb Global Solutions by 41.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 145,416 shares of the company’s stock worth $14,947,000 after purchasing an additional 42,938 shares in the last quarter. 49.72% of the stock is currently owned by institutional investors.

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.