Key Points
- John McCarthy, a Climb Global director, bought 4,000 shares on May 4 at an average price of $18.83 (~$75,320), increasing his stake to 85,876 shares (a 4.89% rise), according to an SEC filing.
- Climb Global missed Q earnings estimates with $0.19 EPS versus $0.23 expected but beat revenue at $182.38M; analysts maintain a "Moderate Buy" consensus with a $31.00 average price target.
- The stock opened at $19.69 (up ~5%), the company has a market cap of ~$366.2M, and roughly 49.7% of shares are held by institutional investors, with several funds notably increasing positions in Q1.
Climb Global Solutions, Inc. (NASDAQ:CLMB - Get Free Report) Director John Mccarthy acquired 4,000 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The stock was purchased at an average price of $18.83 per share, with a total value 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. The trade was a 4.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.
Climb Global Solutions Trading Up 5.0%
NASDAQ:CLMB opened at $19.69 on Wednesday. Climb Global Solutions, Inc. has a 12 month low of $15.24 and a 12 month high of $36.26. The company has a market cap of $366.23 million, a PE ratio of 17.27, a price-to-earnings-growth ratio of 1.18 and a beta of 1.00. The company has a 50 day simple moving average of $21.29 and a two-hundred day simple moving average of $26.01.
Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.04). Climb Global Solutions had a return on equity of 20.43% and a net margin of 3.01%.The company had revenue of $182.38 million during the quarter, compared to the consensus estimate of $151.33 million. Research analysts forecast that Climb Global Solutions, Inc. will post 1.33 earnings per share for the current year.
Hedge Funds Weigh In On Climb Global Solutions
Several institutional investors have recently bought and sold shares of CLMB. Bank of New York Mellon Corp increased its stake in Climb Global Solutions by 303.3% in the 1st quarter. Bank of New York Mellon Corp now owns 120,965 shares of the company's stock worth $2,398,000 after buying an additional 90,970 shares during the period. Fifth Third Bancorp purchased a new stake in shares of Climb Global Solutions during the first quarter valued at about $408,000. Peterson Wealth Services lifted its position in shares of Climb Global Solutions by 3,267.0% during the first quarter. Peterson Wealth Services now owns 3,569 shares of the company's stock valued at $71,000 after buying an additional 3,463 shares during the last quarter. Isthmus Partners LLC lifted its position in shares of Climb Global Solutions by 660.3% during the first quarter. Isthmus Partners LLC now owns 134,054 shares of the company's stock valued at $2,657,000 after buying an additional 116,423 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Climb Global Solutions during the first quarter valued at about $313,000. 49.72% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
CLMB has been the subject of a number of research analyst reports. Barrington Research reaffirmed an "outperform" rating and issued a $30.00 target price on shares of Climb Global Solutions in a research report on Tuesday. Wall Street Zen downgraded shares of Climb Global Solutions from a "hold" rating to a "sell" rating in a research report on Saturday. Northcoast Research raised shares of Climb Global Solutions to a "strong-buy" rating in a research report on Monday, March 23rd. Northland Securities initiated coverage on shares of Climb Global Solutions in a research report on Monday, March 23rd. They issued an "outperform" rating and a $32.00 target price for the company. Finally, Weiss Ratings raised shares of Climb Global Solutions from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Climb Global Solutions has an average rating of "Moderate Buy" and a consensus price target of $31.00.
Check Out Our Latest Stock Report on Climb Global Solutions
Climb Global Solutions Company Profile
(
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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