Climb Global Solutions, Inc. $CLMB Stake Boosted by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its stake in shares of Climb Global Solutions, Inc. (NASDAQ:CLMB) by 311.9% during the first quarter, Holdings Channel reports. The firm owned 536,213 shares of the company’s stock after buying an additional 406,017 shares during the period. Renaissance Technologies LLC’s holdings in Climb Global Solutions were worth $10,628,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in CLMB. Wasatch Advisors LP boosted its position in Climb Global Solutions by 116.1% during the 1st quarter. Wasatch Advisors LP now owns 607,680 shares of the company’s stock valued at $12,044,000 after purchasing an additional 326,520 shares during the period. Dimensional Fund Advisors LP increased its position in Climb Global Solutions by 315.0% in the first quarter. Dimensional Fund Advisors LP now owns 423,197 shares of the company’s stock worth $8,387,000 after buying an additional 321,215 shares during the period. Sei Investments Co. increased its position in Climb Global Solutions by 845.5% in the first quarter. Sei Investments Co. now owns 418,908 shares of the company’s stock worth $8,303,000 after buying an additional 374,601 shares during the period. De Lisle Partners LLP lifted its stake in Climb Global Solutions by 2.7% in the fourth quarter. De Lisle Partners LLP now owns 246,988 shares of the company’s stock valued at $25,430,000 after buying an additional 6,400 shares during the last quarter. Finally, AltraVue Capital LLC lifted its stake in Climb Global Solutions by 85.3% in the fourth quarter. AltraVue Capital LLC now owns 189,851 shares of the company’s stock valued at $19,515,000 after buying an additional 87,380 shares during the last quarter. Institutional investors own 49.72% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of Climb Global Solutions from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings downgraded shares of Climb Global Solutions from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Finally, Barrington Research reissued an “outperform” rating and set a $30.00 target price on shares of Climb Global Solutions in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Insider Buying and Selling at Climb Global Solutions

In related news, Director John R. Mccarthy acquired 4,000 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were acquired at an average cost of $18.83 per share, for a total transaction of $75,320.00. Following the completion of the purchase, the director directly owned 85,876 shares in the company, valued at $1,617,045.08. This trade represents a 4.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.80% of the stock is currently owned by corporate insiders.

Climb Global Solutions Price Performance

CLMB opened at $26.81 on Friday. The stock’s 50 day moving average price is $23.91 and its 200 day moving average price is $23.93. The stock has a market cap of $498.67 million, a P/E ratio of 24.04, a P/E/G ratio of 1.69 and a beta of 1.09. Climb Global Solutions, Inc. has a 12 month low of $15.24 and a 12 month high of $36.26.

Climb Global Solutions (NASDAQ:CLMB) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.30. Climb Global Solutions had a return on equity of 19.29% and a net margin of 2.88%.The company had revenue of $174.21 million during the quarter, compared to analyst estimates of $174.07 million. Equities analysts anticipate that Climb Global Solutions, Inc. will post 1.32 EPS for the current year.

Climb Global Solutions Company Profile

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.