Climb Global Solutions, Inc. (NASDAQ:CLMB) Sees Significant Increase in Short Interest

Climb Global Solutions, Inc. (NASDAQ:CLMB) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 127,200 shares, an increase of 23.3% from the March 31st total of 103,200 shares. Currently, 3.3% of the company’s stock are short sold. Based on an average daily volume of 31,400 shares, the days-to-cover ratio is presently 4.1 days.

Insider Transactions at Climb Global Solutions

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CLMB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Climb Global Solutions by 4.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,391 shares of the company’s stock valued at $303,000 after purchasing an additional 96 shares during the last quarter. Summit Investment Advisors Inc. grew its position in Climb Global Solutions by 28.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 440 shares of the company’s stock valued at $56,000 after buying an additional 97 shares during the period. Northern Trust Corp increased its holdings in Climb Global Solutions by 0.3% during the fourth quarter. Northern Trust Corp now owns 48,768 shares of the company’s stock valued at $6,181,000 after buying an additional 137 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Climb Global Solutions by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,837 shares of the company’s stock valued at $1,500,000 after buying an additional 251 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Climb Global Solutions by 6.0% during the 1st quarter. Rhumbline Advisers now owns 4,960 shares of the company’s stock worth $549,000 after acquiring an additional 282 shares during the last quarter. Institutional investors own 49.72% of the company’s stock.

Analysts Set New Price Targets

Separately, Barrington Research restated an “outperform” rating and issued a $136.00 price target on shares of Climb Global Solutions in a research note on Thursday, April 24th.

Climb Global Solutions Stock Performance

CLMB opened at $101.27 on Friday. The company’s 50-day simple moving average is $111.02 and its two-hundred day simple moving average is $120.00. The stock has a market capitalization of $466.55 million, a P/E ratio of 27.44, a P/E/G ratio of 1.74 and a beta of 1.13. Climb Global Solutions has a 52-week low of $49.70 and a 52-week high of $145.00.

Climb Global Solutions (NASDAQ:CLMB) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.03). The company had revenue of $138.04 million for the quarter, compared to the consensus estimate of $96.86 million. Climb Global Solutions had a net margin of 4.11% and a return on equity of 23.63%. Research analysts forecast that Climb Global Solutions will post 4.14 EPS for the current fiscal year.

Climb Global Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Monday, May 12th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Monday, May 12th. Climb Global Solutions’s dividend payout ratio (DPR) is presently 16.75%.

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.