Climb Global Solutions (NASDAQ:CLMB) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Climb Global Solutions (NASDAQ:CLMB) from a hold rating to a sell rating in a research report released on Saturday.

A number of other brokerages also recently commented on CLMB. Barrington Research reduced their price objective on shares of Climb Global Solutions from $136.00 to $120.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Weiss Ratings downgraded Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Finally, Zacks Research raised Climb Global Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $120.00.

Climb Global Solutions Trading Down 3.5%

NASDAQ:CLMB opened at $84.06 on Friday. The firm has a market cap of $387.52 million, a P/E ratio of 18.08, a PEG ratio of 1.37 and a beta of 1.18. The stock’s 50 day simple moving average is $112.03 and its 200-day simple moving average is $117.37. Climb Global Solutions has a 12-month low of $80.08 and a 12-month high of $145.02.

Climb Global Solutions’s stock is set to split on Monday, March 23rd. The 4-1 split was announced on Monday, March 2nd. The newly issued shares will be issued to shareholders after the closing bell on Friday, March 20th.

Climb Global Solutions (NASDAQ:CLMB) last released its earnings results on Wednesday, February 25th. The company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.26 by $0.27. The company had revenue of $193.85 million during the quarter, compared to analysts’ expectations of $167.75 million. Climb Global Solutions had a net margin of 3.27% and a return on equity of 21.86%. Research analysts forecast that Climb Global Solutions will post 4.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Climb Global Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wasatch Advisors LP boosted its position in Climb Global Solutions by 7.7% during the third quarter. Wasatch Advisors LP now owns 302,880 shares of the company’s stock worth $40,840,000 after purchasing an additional 21,749 shares in the last quarter. De Lisle Partners LLP increased its position in shares of Climb Global Solutions by 2.7% in the fourth quarter. De Lisle Partners LLP now owns 246,988 shares of the company’s stock valued at $25,430,000 after buying an additional 6,400 shares in the last quarter. AltraVue Capital LLC raised its stake in shares of Climb Global Solutions by 85.3% during the 4th quarter. AltraVue Capital LLC now owns 189,851 shares of the company’s stock worth $19,515,000 after buying an additional 87,380 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Climb Global Solutions by 41.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 145,416 shares of the company’s stock worth $14,947,000 after buying an additional 42,938 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. boosted its position in shares of Climb Global Solutions by 5.0% in the 4th quarter. Punch & Associates Investment Management Inc. now owns 134,717 shares of the company’s stock worth $13,848,000 after buying an additional 6,377 shares in the last quarter. 49.72% of the stock is owned by institutional investors and hedge funds.

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.