Climb Global Solutions (NASDAQ:CLMB) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Climb Global Solutions (NASDAQ:CLMB) issued its earnings results on Wednesday. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01, FiscalAI reports. Climb Global Solutions had a return on equity of 20.43% and a net margin of 3.01%.The company had revenue of $174.21 million during the quarter, compared to analyst estimates of $174.07 million.

Climb Global Solutions Stock Up 0.8%

Shares of NASDAQ CLMB traded up $0.23 during midday trading on Wednesday, reaching $28.41. 123,344 shares of the stock were exchanged, compared to its average volume of 225,008. The firm has a market cap of $528.43 million, a price-to-earnings ratio of 24.92, a PEG ratio of 1.72 and a beta of 1.09. The firm has a 50-day simple moving average of $23.51 and a two-hundred day simple moving average of $23.94. Climb Global Solutions has a twelve month low of $15.24 and a twelve month high of $36.26.

Insider Buying and Selling at Climb Global Solutions

In other Climb Global Solutions news, Director John R. Mccarthy acquired 4,000 shares of the company’s stock in a transaction on Monday, May 4th. The shares were bought 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 owned 85,876 shares in the company, valued at approximately $1,617,045.08. This trade represents a 4.89% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Climb Global Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors LP raised its position in Climb Global Solutions by 7.7% during the third quarter. Wasatch Advisors LP now owns 302,880 shares of the company’s stock worth $40,840,000 after acquiring an additional 21,749 shares during the period. Geode Capital Management LLC increased its stake in shares of Climb Global Solutions by 20.3% during the fourth quarter. Geode Capital Management LLC now owns 129,194 shares of the company’s stock worth $13,283,000 after purchasing an additional 21,781 shares in the last quarter. Polar Asset Management Partners Inc. increased its stake in shares of Climb Global Solutions by 36.2% during the fourth quarter. Polar Asset Management Partners Inc. now owns 71,868 shares of the company’s stock worth $7,387,000 after purchasing an additional 19,087 shares in the last quarter. Invesco Ltd. raised its position in shares of Climb Global Solutions by 2,446.4% during the 3rd quarter. Invesco Ltd. now owns 65,263 shares of the company’s stock worth $8,800,000 after purchasing an additional 62,700 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in shares of Climb Global Solutions by 78.6% during the 4th quarter. New York State Common Retirement Fund now owns 38,345 shares of the company’s stock worth $3,941,000 after purchasing an additional 16,880 shares during the last quarter. Hedge funds and other institutional investors own 49.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CLMB. Barrington Research reissued an “outperform” rating and issued a $30.00 price objective on shares of Climb Global Solutions in a report on Tuesday, May 5th. Wall Street Zen downgraded shares of Climb Global Solutions from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.