Climb Global Solutions (NASDAQ:CLMB) Sets New 52-Week High – Here’s What Happened

Shares of Climb Global Solutions, Inc. (NASDAQ:CLMB) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $117.64 and last traded at $117.64, with a volume of 1282 shares changing hands. The stock had previously closed at $105.58.

Analysts Set New Price Targets

Separately, Barrington Research reaffirmed an “outperform” rating and set a $90.00 price target on shares of Climb Global Solutions in a research report on Thursday, October 10th.

Climb Global Solutions Stock Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 1.10 and a quick ratio of 1.09. The stock has a fifty day simple moving average of $97.72 and a two-hundred day simple moving average of $75.48. The firm has a market capitalization of $508.61 million, a P/E ratio of 31.48, a P/E/G ratio of 2.82 and a beta of 1.06.

Climb Global Solutions (NASDAQ:CLMB) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.48 by $0.35. Climb Global Solutions had a net margin of 3.73% and a return on equity of 18.92%. The company had revenue of $92.08 million during the quarter, compared to the consensus estimate of $97.27 million. On average, research analysts predict that Climb Global Solutions, Inc. will post 3.28 EPS for the current year.

Climb Global Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Friday, August 16th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.68 annualized dividend and a dividend yield of 0.62%. Climb Global Solutions’s dividend payout ratio is currently 18.43%.

Hedge Funds Weigh In On Climb Global Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC raised its stake in Climb Global Solutions by 17.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 23,030 shares of the company’s stock worth $2,292,000 after buying an additional 3,463 shares during the period. Pinnacle Associates Ltd. increased its holdings in shares of Climb Global Solutions by 66.8% during the third quarter. Pinnacle Associates Ltd. now owns 18,221 shares of the company’s stock valued at $1,814,000 after acquiring an additional 7,298 shares in the last quarter. New York State Teachers Retirement System acquired a new position in shares of Climb Global Solutions during the third quarter worth approximately $38,000. Lakewood Asset Management LLC grew its position in Climb Global Solutions by 6.6% in the 3rd quarter. Lakewood Asset Management LLC now owns 9,862 shares of the company’s stock valued at $982,000 after purchasing an additional 608 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Climb Global Solutions during the 3rd quarter valued at $159,000. Institutional investors own 49.72% of the company’s stock.

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.