Short Interest in Climb Global Solutions, Inc. (NASDAQ:CLMB) Declines By 21.9%

Climb Global Solutions, Inc. (NASDAQ:CLMB) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 44,500 shares, a decrease of 21.9% from the March 15th total of 57,000 shares. Based on an average daily volume of 10,100 shares, the short-interest ratio is presently 4.4 days. Currently, 1.2% of the company’s stock are sold short.

Insider Transactions at Climb Global Solutions

In other news, CMO Charles Edward Bass sold 500 shares of the company’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 value of $32,525.00. Following the completion of the sale, the chief marketing officer now owns 37,097 shares of the company’s stock, valued at approximately $2,413,159.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CMO Charles Edward Bass sold 500 shares of the company’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 value of $32,525.00. Following the completion of the sale, the chief marketing officer now owns 37,097 shares of the company’s stock, valued at approximately $2,413,159.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dale Richard Foster sold 3,500 shares of the business’s 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 transaction, the chief executive officer now owns 102,092 shares of the company’s stock, valued at approximately $6,686,005.08. The disclosure for this sale can be found here. Corporate insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Climb Global Solutions by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 216,460 shares of the company’s stock worth $11,869,000 after acquiring an additional 4,974 shares during the period. Barclays PLC increased its stake in shares of Climb Global Solutions by 105.8% in the fourth quarter. Barclays PLC now owns 9,686 shares of the company’s stock worth $531,000 after acquiring an additional 4,979 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Climb Global Solutions by 38.1% in the fourth quarter. Nuveen Asset Management LLC now owns 7,475 shares of the company’s stock worth $410,000 after acquiring an additional 2,062 shares during the period. Wasatch Advisors LP increased its stake in shares of Climb Global Solutions by 1,836.3% in the fourth quarter. Wasatch Advisors LP now owns 103,203 shares of the company’s stock worth $5,659,000 after acquiring an additional 97,873 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Climb Global Solutions by 1.2% in the fourth quarter. Northern Trust Corp now owns 50,128 shares of the company’s stock worth $2,749,000 after acquiring an additional 609 shares during the period. Institutional investors and hedge funds own 49.72% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barrington Research boosted their price objective on shares of Climb Global Solutions from $48.00 to $76.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th.

Climb Global Solutions Stock Performance

Climb Global Solutions stock traded down $0.67 during mid-day trading on Friday, reaching $67.68. 5,966 shares of the company traded hands, compared to its average volume of 8,813. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.07 and a quick ratio of 1.06. Climb Global Solutions has a fifty-two week low of $37.67 and a fifty-two week high of $73.25. The company has a market capitalization of $309.30 million, a price-to-earnings ratio of 24.88, a price-to-earnings-growth ratio of 2.34 and a beta of 0.95. The firm’s fifty day moving average is $65.18 and its two-hundred day moving average is $54.89.

Climb Global Solutions (NASDAQ:CLMB) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $1.15 earnings per share (EPS) for the quarter, beating 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. On average, equities research analysts expect that Climb Global Solutions will post 2.92 earnings per share for the current fiscal year.

Climb Global Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 11th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $0.68 dividend on an annualized basis and a yield of 1.00%. Climb Global Solutions’s payout ratio is 25.00%.

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.