Climb Global Solutions (NASDAQ:CLMB) Hits New 1-Year High – What’s Next?

Climb Global Solutions, Inc. (NASDAQ:CLMB)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $118.77 and last traded at $118.77, with a volume of 2332 shares trading hands. The stock had previously closed at $109.46.

Analyst Upgrades and Downgrades

Separately, Barrington Research reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Climb Global Solutions in a report on Thursday, October 10th.

Climb Global Solutions Trading Up 11.8 %

The firm’s fifty day moving average price is $98.83 and its 200-day moving average price is $76.64. The company has a market cap of $564.36 million, a P/E ratio of 31.80, a P/E/G ratio of 2.99 and a beta of 1.06.

Climb Global Solutions (NASDAQ:CLMB) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.35. Climb Global Solutions had a net margin of 4.11% and a return on equity of 23.63%. The firm had revenue of $92.08 million for the quarter, compared to analyst estimates of $97.27 million. As a group, research analysts forecast that Climb Global Solutions, Inc. will post 3.28 earnings per share for the current fiscal year.

Climb Global Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 11th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Friday, November 8th. Climb Global Solutions’s payout ratio is 18.43%.

Institutional Trading of Climb Global Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in CLMB. New York State Teachers Retirement System acquired a new position in shares of Climb Global Solutions in the 3rd quarter valued at $38,000. SG Americas Securities LLC bought a new stake in Climb Global Solutions during the 3rd quarter worth about $159,000. Lazard Asset Management LLC raised its holdings in Climb Global Solutions by 82.1% during the first quarter. Lazard Asset Management LLC now owns 2,925 shares of the company’s stock worth $207,000 after acquiring an additional 1,319 shares in the last quarter. Rhumbline Advisers increased its position in shares of Climb Global Solutions by 5.9% during the 2nd quarter. Rhumbline Advisers now owns 4,239 shares of the company’s stock worth $266,000 after purchasing an additional 237 shares during the last quarter. Finally, Acuitas Investments LLC increased its holdings in Climb Global Solutions by 136.4% during the second quarter. Acuitas Investments LLC now owns 5,200 shares of the company’s stock worth $327,000 after buying an additional 3,000 shares during the last quarter. 49.72% of the stock is currently owned by institutional investors and hedge funds.

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.