Flputnam Investment Management Co. Invests $481,000 in Climb Global Solutions, Inc. $CLMB

Flputnam Investment Management Co. bought a new position in shares of Climb Global Solutions, Inc. (NASDAQ:CLMB) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 20,710 shares of the company’s stock, valued at approximately $481,000. Flputnam Investment Management Co. owned 0.11% of Climb Global Solutions as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Climb Global Solutions in the 2nd quarter worth $30,777,000. De Lisle Partners LLP bought a new stake in Climb Global Solutions in the second quarter valued at about $20,552,000. Tieton Capital Management LLC bought a new stake in Climb Global Solutions in the second quarter valued at about $15,948,000. Punch & Associates Investment Management Inc. acquired a new position in Climb Global Solutions in the second quarter valued at about $12,810,000. Finally, Renaissance Technologies LLC lifted its stake in Climb Global Solutions by 311.9% in the first quarter. Renaissance Technologies LLC now owns 536,213 shares of the company’s stock valued at $10,628,000 after buying an additional 406,017 shares during the period. Institutional investors own 49.72% of the company’s stock.

Climb Global Solutions Stock Up 0.8%

Shares of Climb Global Solutions stock opened at $28.53 on Tuesday. The stock has a market cap of $532.37 million, a P/E ratio of 25.59, a P/E/G ratio of 1.79 and a beta of 1.07. Climb Global Solutions, Inc. has a 12-month low of $15.24 and a 12-month high of $36.26. The business’s 50 day moving average is $26.21 and its 200-day moving average is $23.54.

Climb Global Solutions (NASDAQ:CLMB) last issued its earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. Climb Global Solutions had a net margin of 2.88% and a return on equity of 18.87%. The business had revenue of $174.21 million for the quarter, compared to the consensus estimate of $174.07 million. On average, sell-side analysts expect that Climb Global Solutions, Inc. will post 1.32 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CLMB shares. Wall Street Zen upgraded Climb Global Solutions from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Barrington Research reiterated an “outperform” rating and issued a $30.00 price target on shares of Climb Global Solutions in a research report on Tuesday, May 5th. Finally, Weiss Ratings raised shares of Climb Global Solutions from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.00.

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.