Key Points
- CEO sale: CEO Dale Richard Foster sold 8,500 shares on March 16 at an average price of $80.50 for $684,250, reducing his stake by 10.34% to 73,690 shares (SEC filing disclosed).
- Stock split: Climb Global Solutions will complete a 4-for-1 stock split effective the morning of March 23, with new shares payable after market close on March 20.
- Quarterly beat but mixed outlook: The company posted $1.53 EPS vs $1.26 expected and revenue of $193.85M vs $167.75M, yet analysts are mixed (average rating: Hold, average target: $120).
Climb Global Solutions, Inc. (NASDAQ:CLMB - Get Free Report) CEO Dale Richard Foster sold 8,500 shares of Climb Global Solutions stock in a transaction on Monday, March 16th. The shares were sold at an average price of $80.50, for a total value of $684,250.00. Following the completion of the transaction, the chief executive officer directly owned 73,690 shares of the company's stock, valued at $5,932,045. This represents a 10.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Climb Global Solutions Stock Performance
CLMB opened at $80.32 on Tuesday. Climb Global Solutions, Inc. has a 52-week low of $79.26 and a 52-week high of $145.02. The firm has a market cap of $370.28 million, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 1.27 and a beta of 1.18. The business's fifty day moving average is $109.83 and its 200-day moving average is $115.89.
Climb Global Solutions shares are scheduled to split on the morning of Monday, March 23rd. The 4-1 split was announced on Monday, March 2nd. The newly issued shares will be payable to shareholders after the market closes on Friday, March 20th.
Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.27. Climb Global Solutions had a return on equity of 21.86% and a net margin of 3.27%.The business had revenue of $193.85 million during the quarter, compared to the consensus estimate of $167.75 million. On average, research analysts predict that Climb Global Solutions, Inc. will post 4.14 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Climb Global Solutions
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd boosted its holdings in Climb Global Solutions by 77,066.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,315 shares of the company's stock valued at $238,000 after acquiring an additional 2,312 shares during the last quarter. Beacon Pointe Advisors LLC raised its holdings in Climb Global Solutions by 5.5% during the 4th quarter. Beacon Pointe Advisors LLC now owns 3,170 shares of the company's stock worth $326,000 after purchasing an additional 164 shares during the last quarter. XTX Topco Ltd bought a new position in Climb Global Solutions during the 4th quarter worth approximately $325,000. Man Group plc acquired a new position in shares of Climb Global Solutions in the 4th quarter worth approximately $861,000. Finally, Evolve Private Wealth LLC acquired a new position in shares of Climb Global Solutions in the 4th quarter worth approximately $529,000. 49.72% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the stock. Wall Street Zen cut shares of Climb Global Solutions from a "hold" rating to a "sell" rating in a research report on Saturday, March 7th. Zacks Research upgraded shares of Climb Global Solutions from a "strong sell" rating to a "hold" rating in a research report on Tuesday, January 6th. Weiss Ratings downgraded shares of Climb Global Solutions from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, January 12th. Finally, Barrington Research cut their target price on Climb Global Solutions from $136.00 to $120.00 and set an "outperform" rating for the company in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Climb Global Solutions has an average rating of "Hold" and an average target price of $120.00.
Check Out Our Latest Stock Analysis on CLMB
About Climb Global Solutions
(
Get Free Report)
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.
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