Climb Global Solutions (NASDAQ:CLMB) Issues Earnings Results

Climb Global Solutions (NASDAQ:CLMB) released its earnings results on Wednesday. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04), FiscalAI reports. Climb Global Solutions had a return on equity of 21.86% and a net margin of 3.27%.The company had revenue of $182.38 million during the quarter, compared to analysts’ expectations of $151.34 million.

Climb Global Solutions Price Performance

Shares of Climb Global Solutions stock traded down $4.69 during trading on Thursday, hitting $16.58. 196,291 shares of the company’s stock traded hands, compared to its average volume of 259,784. Climb Global Solutions has a 1 year low of $15.24 and a 1 year high of $36.26. The stock has a market capitalization of $305.42 million, a P/E ratio of 14.26, a PEG ratio of 1.32 and a beta of 1.20. The business has a 50-day simple moving average of $21.75 and a 200-day simple moving average of $26.29.

Insider Activity at Climb Global Solutions

In related news, CEO Dale Richard Foster sold 34,000 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $20.13, for a total transaction of $684,250.00. Following the sale, the chief executive officer directly owned 294,760 shares of the company’s stock, valued at $5,932,045. This trade represents a 10.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 6.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Climb Global Solutions

Institutional investors have recently modified their holdings of the business. Global Retirement Partners LLC purchased a new stake in shares of Climb Global Solutions during the fourth quarter valued at $36,000. Tower Research Capital LLC TRC boosted its position in Climb Global Solutions by 317.3% in the second quarter. Tower Research Capital LLC TRC now owns 555 shares of the company’s stock worth $59,000 after purchasing an additional 422 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in Climb Global Solutions in the fourth quarter worth about $110,000. Dynamic Technology Lab Private Ltd purchased a new position in Climb Global Solutions in the fourth quarter worth about $224,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Climb Global Solutions by 10.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,246 shares of the company’s stock worth $231,000 after purchasing an additional 221 shares during the last quarter. 49.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CLMB has been the topic of a number of recent research reports. Barrington Research reissued an “outperform” rating and issued a $30.00 target price on shares of Climb Global Solutions in a research note on Tuesday, April 21st. Zacks Research raised Climb Global Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Northland Securities initiated coverage on Climb Global Solutions in a research note on Monday, March 23rd. They issued an “outperform” rating and a $32.00 target price on the stock. Wall Street Zen raised Climb Global Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Finally, Weiss Ratings raised Climb Global Solutions from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.