Cove Street Capital LLC Sells 18,518 Shares of Climb Global Solutions, Inc. (NASDAQ:CLMB)

Cove Street Capital LLC lessened its stake in shares of Climb Global Solutions, Inc. (NASDAQ:CLMB) by 66.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,158 shares of the company’s stock after selling 18,518 shares during the period. Climb Global Solutions accounts for about 1.4% of Cove Street Capital LLC’s investment portfolio, making the stock its 29th biggest holding. Cove Street Capital LLC owned approximately 0.20% of Climb Global Solutions worth $1,160,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership purchased a new stake in Climb Global Solutions during the 4th quarter valued at approximately $476,000. JPMorgan Chase & Co. grew its stake in Climb Global Solutions by 112.9% during the fourth quarter. JPMorgan Chase & Co. now owns 16,088 shares of the company’s stock valued at $2,039,000 after acquiring an additional 8,530 shares in the last quarter. Vanguard Group Inc. increased its holdings in Climb Global Solutions by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 232,712 shares of the company’s stock valued at $29,496,000 after acquiring an additional 5,195 shares during the last quarter. LPL Financial LLC bought a new stake in Climb Global Solutions in the 4th quarter valued at $1,093,000. Finally, Summit Global Investments purchased a new stake in Climb Global Solutions in the 4th quarter worth $350,000. Institutional investors own 49.72% of the company’s stock.

Insider Transactions at Climb Global Solutions

In other news, insider Charles Edward Bass sold 8,117 shares of Climb Global Solutions 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 completion of the sale, the insider now directly owns 25,792 shares in the company, valued at approximately $3,216,520.32. This trade represents a 23.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dale Richard Foster sold 2,000 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $110.46, for a total transaction of $220,920.00. Following the sale, the chief executive officer now directly owns 82,740 shares of the company’s stock, 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 three months. Insiders own 9.60% of the company’s stock.

Analyst Ratings Changes

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, March 6th.

Climb Global Solutions Stock Performance

NASDAQ CLMB opened at $109.02 on Friday. The stock has a 50 day moving average price of $123.37 and a 200-day moving average price of $118.95. Climb Global Solutions, Inc. has a one year low of $49.70 and a one year high of $145.00. The company has a market capitalization of $502.26 million, a P/E ratio of 29.54, a P/E/G ratio of 1.74 and a beta of 1.18.

Climb Global Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 17th were paid a $0.17 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.62%. Climb Global Solutions’s payout ratio is currently 16.75%.

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.