Climb Global Solutions (NASDAQ:CLMB) Price Target Cut to $68.00 by Analysts at Barrington Research

Climb Global Solutions (NASDAQ:CLMB) had its price target reduced by Barrington Research from $76.00 to $68.00 in a report issued on Monday morning, Benzinga reports. Barrington Research currently has an outperform rating on the stock.

Climb Global Solutions Stock Performance

NASDAQ CLMB opened at $58.38 on Monday. The business has a 50 day moving average price of $67.10 and a 200 day moving average price of $57.37. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.09 and a quick ratio of 1.08. The company has a market capitalization of $267.96 million, a P/E ratio of 22.63, a PEG ratio of 2.02 and a beta of 0.98. Climb Global Solutions has a 1-year low of $37.67 and a 1-year high of $73.25.

Climb Global Solutions (NASDAQ:CLMB) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.15). Climb Global Solutions had a net margin of 3.26% and a return on equity of 18.93%. The firm had revenue of $92.42 million during the quarter, compared to analysts’ expectations of $105.44 million. During the same quarter in the prior year, the business earned $0.74 EPS. Sell-side analysts expect that Climb Global Solutions will post 2.92 EPS for the current fiscal year.

Climb Global Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 13th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, May 10th. This represents a $0.68 annualized dividend and a dividend yield of 1.16%. Climb Global Solutions’s dividend payout ratio is currently 26.36%.

Insider Buying and Selling at Climb Global Solutions

In other news, CEO Dale Richard Foster sold 3,500 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $65.49, for a total value of $229,215.00. Following the completion of the transaction, the chief executive officer now directly owns 102,092 shares of the company’s stock, valued at $6,686,005.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Dale Richard Foster sold 3,500 shares of Climb Global Solutions stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $65.49, for a total transaction of $229,215.00. Following the completion of the sale, the chief executive officer now directly owns 102,092 shares in the company, valued at $6,686,005.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Charles Edward Bass sold 500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $65.05, for a total transaction of $32,525.00. Following the completion of the transaction, the chief marketing officer now directly owns 37,097 shares of the company’s stock, valued at approximately $2,413,159.85. The disclosure for this sale can be found here. 9.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Climb Global Solutions

Several hedge funds have recently made changes to their positions in CLMB. Wasatch Advisors LP increased its stake in Climb Global Solutions by 1,836.3% in the fourth quarter. Wasatch Advisors LP now owns 103,203 shares of the company’s stock valued at $5,659,000 after purchasing an additional 97,873 shares during the last quarter. Tieton Capital Management LLC acquired a new position in shares of Climb Global Solutions during the 3rd quarter valued at about $4,007,000. Ballast Asset Management LP purchased a new position in shares of Climb Global Solutions during the 3rd quarter worth about $2,753,000. Cove Street Capital LLC boosted its position in shares of Climb Global Solutions by 34.0% in the third quarter. Cove Street Capital LLC now owns 199,102 shares of the company’s stock worth $8,810,000 after acquiring an additional 50,499 shares during the last quarter. Finally, Foundry Partners LLC purchased a new stake in Climb Global Solutions in the third quarter valued at approximately $1,572,000. Institutional investors and hedge funds own 49.72% 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.