Climb Global Solutions (NASDAQ:CLMB) Stock Rating Reaffirmed by Barrington Research

Climb Global Solutions (NASDAQ:CLMB)‘s stock had its “outperform” rating restated by equities research analysts at Barrington Research in a report issued on Tuesday, Benzinga reports. They presently have a $76.00 price target on the stock. Barrington Research’s price target suggests a potential upside of 18.07% from the company’s previous close.

Climb Global Solutions Stock Performance

NASDAQ:CLMB traded down $3.44 during mid-day trading on Tuesday, reaching $64.37. 3,321 shares of the company’s stock were exchanged, compared to its average volume of 9,667. Climb Global Solutions has a one year low of $37.67 and a one year high of $73.25. The firm has a market capitalization of $294.17 million, a PE ratio of 24.00, a price-to-earnings-growth ratio of 2.29 and a beta of 0.95. The business’s fifty day simple moving average is $66.93 and its two-hundred day simple moving average is $56.77. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 1.07.

Climb Global Solutions (NASDAQ:CLMB) last released its quarterly earnings results on Wednesday, February 28th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.47. Climb Global Solutions had a net margin of 3.50% and a return on equity of 20.65%. The business had revenue of $106.78 million for the quarter, compared to analyst estimates of $88.99 million. Analysts anticipate that Climb Global Solutions will post 2.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Climb Global Solutions

In related news, CEO Dale Richard Foster sold 3,500 shares of Climb Global Solutions stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $65.49, for a total transaction of $229,215.00. Following the sale, the chief executive officer now directly owns 102,092 shares of the company’s stock, valued at approximately $6,686,005.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CMO Charles Edward Bass sold 500 shares of Climb Global Solutions 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 sale, the chief marketing officer now directly owns 37,097 shares in the company, valued at approximately $2,413,159.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Dale Richard Foster sold 3,500 shares of Climb Global Solutions stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $65.49, for a total transaction of $229,215.00. Following the sale, the chief executive officer now owns 102,092 shares in the company, valued at $6,686,005.08. The disclosure for this sale can be found here. Insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On Climb Global Solutions

Hedge funds have recently added to or reduced their stakes in the business. Pinnacle Associates Ltd. acquired a new position in shares of Climb Global Solutions in the 3rd quarter worth approximately $773,000. Bank of New York Mellon Corp lifted its position in shares of Climb Global Solutions by 14.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 37,404 shares of the company’s stock worth $1,609,000 after purchasing an additional 4,656 shares during the period. Strs Ohio lifted its position in shares of Climb Global Solutions by 177.8% in the 3rd quarter. Strs Ohio now owns 2,500 shares of the company’s stock worth $107,000 after purchasing an additional 1,600 shares during the period. Punch & Associates Investment Management Inc. lifted its position in shares of Climb Global Solutions by 16.0% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 168,966 shares of the company’s stock worth $7,267,000 after purchasing an additional 23,279 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Climb Global Solutions in the 3rd quarter valued at $95,000. 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.