Cove Street Capital LLC Sells 18,518 Shares of Climb Global Solutions, Inc. (NASDAQ:CLMB)

Cove Street Capital LLC decreased its holdings in Climb Global Solutions, Inc. (NASDAQ:CLMB) by 66.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,158 shares of the company’s stock after selling 18,518 shares during the quarter. Climb Global Solutions accounts for about 1.4% of Cove Street Capital LLC’s holdings, making the stock its 29th biggest holding. Cove Street Capital LLC’s holdings in Climb Global Solutions were worth $1,160,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CLMB. MeadowBrook Investment Advisors LLC bought a new position in shares of Climb Global Solutions in the 4th quarter worth $120,000. Quantbot Technologies LP purchased a new position in Climb Global Solutions in the third quarter valued at about $147,000. Cornerstone Investment Partners LLC bought a new position in Climb Global Solutions in the fourth quarter worth about $236,000. SG Americas Securities LLC lifted its position in shares of Climb Global Solutions by 21.4% during the fourth quarter. SG Americas Securities LLC now owns 1,936 shares of the company’s stock valued at $245,000 after buying an additional 341 shares during the last quarter. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of Climb Global Solutions in the 4th quarter valued at about $250,000. Hedge funds and other institutional investors own 49.72% of the company’s stock.

Climb Global Solutions Price Performance

Climb Global Solutions stock opened at $109.02 on Friday. The business has a fifty day moving average price of $123.37 and a 200-day moving average price of $118.95. Climb Global Solutions, Inc. has a 1-year low of $49.70 and a 1-year high of $145.00. The stock has a market capitalization of $502.26 million, a price-to-earnings ratio of 29.54, a PEG ratio of 1.74 and a beta of 1.18.

Climb Global Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 17th were paid a dividend of $0.17 per share. The ex-dividend date was Monday, March 17th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.62%. Climb Global Solutions’s payout ratio is 16.75%.

Insider Activity

In other news, Director Andrew S. Bryant sold 2,604 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $122.00, for a total transaction of $317,688.00. Following the sale, the director now directly owns 6,274 shares of the company’s stock, valued at $765,428. The trade was a 29.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charles Edward Bass sold 8,117 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $124.71, for a total value of $1,012,271.07. Following the completion of the transaction, the insider now owns 25,792 shares of the company’s stock, valued at $3,216,520.32. This trade represents a 23.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,764 shares of company stock worth $2,799,426 over the last 90 days. 9.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Barrington Research reiterated an “outperform” rating and set a $136.00 price objective on shares of Climb Global Solutions in a research note on Thursday, March 6th.

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.