Climb Global Solutions (NASDAQ:CLMB) Stock Rating Reaffirmed by Barrington Research

Climb Global Solutions (NASDAQ:CLMB)‘s stock had its “outperform” rating reissued by equities researchers at Barrington Research in a note issued to investors on Tuesday, Benzinga reports. They presently have a $76.00 price objective on the stock. Barrington Research’s price objective suggests a potential upside of 18.07% from the company’s current price.

Climb Global Solutions Price Performance

NASDAQ:CLMB traded down $3.44 during mid-day trading on Tuesday, reaching $64.37. The stock had a trading volume of 3,321 shares, compared to its average volume of 9,667. The stock has a market capitalization of $294.17 million, a P/E ratio of 24.00, a P/E/G ratio of 2.29 and a beta of 0.95. The firm has a 50 day moving average price of $66.93 and a two-hundred day moving average price of $56.77. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 1.07. Climb Global Solutions has a one year low of $37.67 and a one year high of $73.25.

Climb Global Solutions (NASDAQ:CLMB) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.47. Climb Global Solutions had a net margin of 3.50% and a return on equity of 20.65%. The business had revenue of $106.78 million during the quarter, compared to the consensus estimate of $88.99 million. As a group, analysts expect that Climb Global Solutions will post 2.92 earnings per share for the current year.

Insider Buying and Selling

In other Climb Global Solutions news, CMO Charles Edward Bass sold 500 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $65.05, for a total transaction of $32,525.00. Following the completion of the sale, the chief marketing officer now owns 37,097 shares of the company’s stock, valued at approximately $2,413,159.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Climb Global Solutions news, CMO Charles Edward Bass sold 500 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $65.05, for a total value of $32,525.00. Following the completion of the sale, the chief marketing officer now owns 37,097 shares in the company, valued at approximately $2,413,159.85. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Dale Richard Foster sold 3,500 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $65.49, for a total transaction of $229,215.00. Following the completion of the transaction, the chief executive officer now owns 102,092 shares of the company’s stock, valued at $6,686,005.08. The disclosure for this sale can be found here. 9.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Climb Global Solutions

A number of hedge funds have recently bought and sold shares of CLMB. Wasatch Advisors LP boosted its stake in Climb Global Solutions by 1,836.3% in the 4th quarter. Wasatch Advisors LP now owns 103,203 shares of the company’s stock worth $5,659,000 after purchasing an additional 97,873 shares in the last quarter. Tieton Capital Management LLC purchased a new position in shares of Climb Global Solutions in the 3rd quarter worth $4,007,000. Ballast Asset Management LP purchased a new position in shares of Climb Global Solutions in the 3rd quarter worth $2,753,000. Cove Street Capital LLC boosted its stake in shares of Climb Global Solutions by 34.0% in the 3rd quarter. Cove Street Capital LLC now owns 199,102 shares of the company’s stock worth $8,810,000 after buying an additional 50,499 shares during the last quarter. Finally, Foundry Partners LLC purchased a new position in Climb Global Solutions during the third quarter valued at $1,572,000. 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.