Climb Global Solutions, Inc. (NASDAQ:CLMB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Climb Global Solutions, Inc. (NASDAQ:CLMB) has been assigned an average recommendation of “Moderate Buy” from the five research firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $31.00.

Several equities research analysts have recently issued reports on CLMB shares. Weiss Ratings cut Climb Global Solutions from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Barrington Research reiterated an “outperform” rating and set a $30.00 target price on shares of Climb Global Solutions in a research report on Tuesday, May 5th. Finally, Wall Street Zen lowered Climb Global Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd.

Insider Activity

In related news, Director John R. Mccarthy bought 4,000 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was purchased at an average cost of $18.83 per share, for a total transaction of $75,320.00. Following the completion of the acquisition, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Climb Global Solutions

Institutional investors and hedge funds have recently made changes to their positions in the company. Punch & Associates Investment Management Inc. grew its position in Climb Global Solutions by 309.5% during the first quarter. Punch & Associates Investment Management Inc. now owns 551,665 shares of the company’s stock valued at $10,934,000 after acquiring an additional 416,948 shares during the period. Renaissance Technologies LLC increased its stake in Climb Global Solutions by 311.9% during the first quarter. Renaissance Technologies LLC now owns 536,213 shares of the company’s stock worth $10,628,000 after acquiring an additional 406,017 shares during the last quarter. Sei Investments Co. increased its stake in Climb Global Solutions by 845.5% during the first quarter. Sei Investments Co. now owns 418,908 shares of the company’s stock worth $8,303,000 after acquiring an additional 374,601 shares during the last quarter. Wasatch Advisors LP raised its holdings in shares of Climb Global Solutions by 116.1% in the 1st quarter. Wasatch Advisors LP now owns 607,680 shares of the company’s stock worth $12,044,000 after purchasing an additional 326,520 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Climb Global Solutions by 315.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 423,197 shares of the company’s stock valued at $8,387,000 after purchasing an additional 321,215 shares in the last quarter. 49.72% of the stock is currently owned by institutional investors and hedge funds.

Climb Global Solutions Stock Performance

Shares of NASDAQ CLMB opened at $25.46 on Monday. Climb Global Solutions has a 1 year low of $15.24 and a 1 year high of $36.26. The firm’s 50 day moving average price is $23.22 and its 200 day moving average price is $23.94. The firm has a market cap of $473.56 million, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 1.61 and a beta of 1.09.

Climb Global Solutions (NASDAQ:CLMB) last released its earnings results on Wednesday, April 29th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.04). The firm had revenue of $182.38 million during the quarter, compared to analysts’ expectations of $151.33 million. Climb Global Solutions had a return on equity of 20.43% and a net margin of 3.01%. As a group, equities analysts predict that Climb Global Solutions will post 1.32 EPS 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.