Insider Selling: Climb Global Solutions, Inc. (NASDAQ:CLMB) Director Sells $580,333.21 in Stock

Climb Global Solutions, Inc. (NASDAQ:CLMB) Director Greg Scorziello sold 5,767 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $100.63, for a total value of $580,333.21. Following the transaction, the director now owns 1,774 shares in the company, valued at $178,517.62. This trade represents a 76.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Climb Global Solutions Trading Up 1.3 %

NASDAQ:CLMB opened at $104.88 on Friday. The stock has a 50 day moving average of $109.63 and a two-hundred day moving average of $119.90. The firm has a market cap of $480.75 million, a P/E ratio of 28.42, a price-to-earnings-growth ratio of 1.74 and a beta of 1.12. Climb Global Solutions, Inc. has a 12 month low of $49.70 and a 12 month high of $145.00.

Climb Global Solutions (NASDAQ:CLMB) last issued its earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.03). The business had revenue of $138.04 million during the quarter, compared to analyst estimates of $96.86 million. Climb Global Solutions had a net margin of 4.11% and a return on equity of 23.63%. On average, research analysts forecast that Climb Global Solutions, Inc. will post 4.14 earnings per share for the current year.

Climb Global Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Monday, May 12th will be given a $0.17 dividend. The ex-dividend date is Monday, May 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.65%. Climb Global Solutions’s dividend payout ratio (DPR) is presently 15.93%.

Analysts Set New Price Targets

Separately, Barrington Research reaffirmed an “outperform” rating and set a $136.00 price objective on shares of Climb Global Solutions in a report on Thursday, April 24th.

Hedge Funds Weigh In On Climb Global Solutions

A number of institutional investors have recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. increased its stake in shares of Climb Global Solutions by 28.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 440 shares of the company’s stock worth $56,000 after acquiring an additional 97 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Climb Global Solutions by 200.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 477 shares of the company’s stock worth $60,000 after buying an additional 318 shares during the last quarter. State of Wyoming acquired a new stake in shares of Climb Global Solutions during the 4th quarter worth approximately $64,000. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Climb Global Solutions during the 4th quarter valued at approximately $120,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in Climb Global Solutions in the fourth quarter valued at approximately $209,000. Hedge funds and other institutional investors 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.