Summit Global Investments Takes Position in Climb Global Solutions, Inc. (NASDAQ:CLMB)

Summit Global Investments acquired a new stake in Climb Global Solutions, Inc. (NASDAQ:CLMB) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 2,764 shares of the company’s stock, valued at approximately $350,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd raised its holdings in shares of Climb Global Solutions by 123.2% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,848 shares of the company’s stock valued at $345,000 after purchasing an additional 1,572 shares in the last quarter. Royce & Associates LP raised its stake in Climb Global Solutions by 40.9% in the fourth quarter. Royce & Associates LP now owns 50,601 shares of the company’s stock worth $6,414,000 after buying an additional 14,682 shares in the last quarter. Sowell Financial Services LLC bought a new position in Climb Global Solutions in the fourth quarter worth approximately $1,489,000. Raymond James Financial Inc. purchased a new stake in Climb Global Solutions during the fourth quarter worth $1,449,000. Finally, Proficio Capital Partners LLC bought a new stake in Climb Global Solutions during the 4th quarter valued at $1,382,000. 49.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, CEO Dale Richard Foster sold 2,000 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $110.46, for a total value of $220,920.00. Following the completion of the sale, the chief executive officer now owns 82,740 shares of the company’s stock, valued at $9,139,460.40. This trade represents a 2.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew S. Bryant sold 2,543 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $125.50, for a total value of $319,146.50. Following the transaction, the director now directly owns 11,261 shares in the company, valued at $1,413,255.50. This represents a 18.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,764 shares of company stock valued at $2,799,426. 9.60% of the stock is currently owned by insiders.

Climb Global Solutions Stock Performance

NASDAQ:CLMB opened at $116.21 on Tuesday. The company’s 50-day simple moving average is $124.69 and its 200-day simple moving average is $118.50. Climb Global Solutions, Inc. has a fifty-two week low of $49.70 and a fifty-two week high of $145.00. The stock has a market capitalization of $535.38 million, a P/E ratio of 31.49, a P/E/G ratio of 1.74 and a beta of 1.18.

Climb Global Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 17th were paid a $0.17 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.68 annualized dividend and a yield of 0.59%. Climb Global Solutions’s dividend payout ratio (DPR) is 16.75%.

Climb Global Solutions 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.