Climb Global Solutions (NASDAQ:CLMB) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Climb Global Solutions (NASDAQ:CLMB) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Several other equities analysts have also recently issued reports on CLMB. Weiss Ratings cut shares of Climb Global Solutions from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. 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 equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Climb Global Solutions Stock Up 0.3%

NASDAQ:CLMB opened at $26.81 on Friday. The business’s 50-day moving average price is $23.91 and its 200 day moving average price is $23.93. The firm has a market cap of $498.67 million, a P/E ratio of 24.04, a PEG ratio of 1.69 and a beta of 1.09. Climb Global Solutions has a 52-week low of $15.24 and a 52-week high of $36.26.

Climb Global Solutions (NASDAQ:CLMB) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. Climb Global Solutions had a net margin of 2.88% and a return on equity of 19.29%. The firm had revenue of $174.21 million for the quarter, compared to analysts’ expectations of $174.07 million. Sell-side analysts expect that Climb Global Solutions will post 1.32 EPS for the current year.

Insider Activity at Climb Global Solutions

In related news, Director John R. Mccarthy bought 4,000 shares of Climb Global Solutions stock in a transaction dated Monday, May 4th. The stock was acquired at an average cost of $18.83 per share, with a total value of $75,320.00. Following the completion of the acquisition, the director directly owned 85,876 shares in the company, valued at approximately $1,617,045.08. This trade represents a 4.89% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Climb Global Solutions

Several institutional investors and hedge funds have recently bought and sold shares of CLMB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Climb Global Solutions by 5.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,522 shares of the company’s stock worth $279,000 after acquiring an additional 131 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Climb Global Solutions in the 1st quarter valued at approximately $426,000. JPMorgan Chase & Co. boosted its stake in Climb Global Solutions by 221.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 32,914 shares of the company’s stock worth $3,519,000 after purchasing an additional 22,676 shares during the period. Rhumbline Advisers boosted its stake in Climb Global Solutions by 21.1% in the 2nd quarter. Rhumbline Advisers now owns 6,007 shares of the company’s stock worth $642,000 after purchasing an additional 1,047 shares during the period. Finally, American Century Companies Inc. grew its position in Climb Global Solutions by 31.4% during the 2nd quarter. American Century Companies Inc. now owns 9,028 shares of the company’s stock worth $965,000 after purchasing an additional 2,159 shares in the last quarter. Institutional investors and hedge funds 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.