Punch & Associates Investment Management Inc. Takes Position in Climb Global Solutions, Inc. $CLMB

Punch & Associates Investment Management Inc. bought a new stake in shares of Climb Global Solutions, Inc. (NASDAQ:CLMB) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 551,910 shares of the company’s stock, valued at approximately $12,810,000.

Several other large investors have also added to or reduced their stakes in CLMB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in 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 valued at $279,000 after buying an additional 131 shares during the period. Jane Street Group LLC acquired a new stake in shares of Climb Global Solutions during the 1st quarter worth approximately $426,000. JPMorgan Chase & Co. grew its position in shares of Climb Global Solutions by 221.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 32,914 shares of the company’s stock worth $3,519,000 after buying an additional 22,676 shares during the period. Rhumbline Advisers increased its stake in shares of Climb Global Solutions by 21.1% in the 2nd quarter. Rhumbline Advisers now owns 6,007 shares of the company’s stock valued at $642,000 after acquiring an additional 1,047 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Climb Global Solutions by 31.4% in the 2nd quarter. American Century Companies Inc. now owns 9,028 shares of the company’s stock valued at $965,000 after acquiring an additional 2,159 shares in the last quarter. Institutional investors and hedge funds own 49.72% of the company’s stock.

Wall Street Analysts Forecast Growth

CLMB has been the topic of a number of research reports. Wall Street Zen upgraded shares of Climb Global Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings raised shares of Climb Global Solutions from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Finally, Barrington Research reiterated an “outperform” rating and set a $30.00 price objective on shares of Climb Global Solutions in a report on Tuesday, May 5th. One 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 company. Based on data from MarketBeat, Climb Global Solutions presently has an average rating of “Moderate Buy” and an average price target of $31.00.

Climb Global Solutions Stock Up 1.5%

NASDAQ CLMB opened at $27.67 on Thursday. The company has a market cap of $516.32 million, a price-to-earnings ratio of 24.82, a P/E/G ratio of 1.72 and a beta of 1.07. Climb Global Solutions, Inc. has a 52 week low of $15.24 and a 52 week high of $36.26. The business has a 50 day moving average price of $25.83 and a 200-day moving average price of $23.57.

Climb Global Solutions (NASDAQ:CLMB) last issued its 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 18.87% and a net margin of 2.88%.The company had revenue of $174.21 million for the quarter, compared to analysts’ expectations of $174.07 million. On average, equities research analysts anticipate that Climb Global Solutions, Inc. will post 1.32 earnings per share for the current year.

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.