Climb Global Solutions (NASDAQ:CLMB) Sees Large Volume Increase – Should You Buy?

Shares of Climb Global Solutions, Inc. (NASDAQ:CLMB) saw an uptick in trading volume on Monday . 43,844 shares traded hands during mid-day trading, an increase of 78% from the previous session’s volume of 24,586 shares.The stock last traded at $124.52 and had previously closed at $131.86.

Wall Street Analyst Weigh In

Separately, Barrington Research reissued an “outperform” rating and issued a $136.00 price target on shares of Climb Global Solutions in a report on Thursday.

Climb Global Solutions Price Performance

The business’s 50 day simple moving average is $126.73 and its 200 day simple moving average is $116.63. The stock has a market cap of $567.76 million, a P/E ratio of 33.40, a PEG ratio of 1.74 and a beta of 1.18.

Climb Global Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 17th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Monday, March 17th. Climb Global Solutions’s dividend payout ratio is 16.75%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. New York State Teachers Retirement System bought a new stake in shares of Climb Global Solutions in the 3rd quarter worth about $38,000. Summit Investment Advisors Inc. raised its position in Climb Global Solutions by 28.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 440 shares of the company’s stock valued at $56,000 after purchasing an additional 97 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Climb Global Solutions by 200.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 477 shares of the company’s stock worth $60,000 after purchasing an additional 318 shares in the last quarter. State of Wyoming bought a new stake in shares of Climb Global Solutions during the fourth quarter worth $64,000. Finally, MeadowBrook Investment Advisors LLC acquired a new stake in shares of Climb Global Solutions in the fourth quarter valued at $120,000. 49.72% of the stock is currently owned by institutional investors and hedge funds.

Climb Global Solutions Company Profile

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.