Climb Global Solutions’ (CLMB) Outperform Rating Reaffirmed at Barrington Research

Climb Global Solutions (NASDAQ:CLMB)‘s stock had its “outperform” rating restated by investment analysts at Barrington Research in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $76.00 price target on the stock. Barrington Research’s target price would suggest a potential upside of 15.08% from the stock’s current price.

Climb Global Solutions Price Performance

NASDAQ CLMB opened at $66.04 on Tuesday. Climb Global Solutions has a 12 month low of $37.67 and a 12 month high of $73.25. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.07 and a quick ratio of 1.06. The firm has a market capitalization of $301.80 million, a PE ratio of 24.28, a P/E/G ratio of 2.32 and a beta of 0.95. The company’s 50 day simple moving average is $67.01 and its 200 day simple moving average is $56.91.

Climb Global Solutions (NASDAQ:CLMB) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $88.99 million. As a group, equities research analysts forecast that Climb Global Solutions will post 2.92 EPS for the current fiscal year.

Insider Activity at Climb Global Solutions

In other Climb Global Solutions news, CMO Charles Edward Bass sold 500 shares of Climb Global Solutions stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $65.05, for a total value of $32,525.00. Following the transaction, the chief marketing officer now owns 37,097 shares in the company, valued at $2,413,159.85. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Climb Global Solutions news, CMO Charles Edward Bass sold 500 shares of Climb Global Solutions stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $65.05, for a total value of $32,525.00. Following the transaction, the chief marketing officer now owns 37,097 shares in the company, valued at $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 Climb Global Solutions stock in a transaction that occurred 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 in the company, valued at approximately $6,686,005.08. The disclosure for this sale can be found here. Company insiders own 9.70% of the company’s stock.

Hedge Funds Weigh In On Climb Global Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its position in Climb Global Solutions by 94.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 505 shares of the company’s stock worth $28,000 after purchasing an additional 245 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Climb Global Solutions during the 3rd quarter worth approximately $95,000. Strs Ohio grew its position in Climb Global Solutions by 177.8% during the 3rd quarter. Strs Ohio now owns 2,500 shares of the company’s stock worth $107,000 after purchasing an additional 1,600 shares in the last quarter. Barclays PLC boosted its stake in shares of Climb Global Solutions by 23.8% during the 3rd quarter. Barclays PLC now owns 4,707 shares of the company’s stock valued at $203,000 after buying an additional 904 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in shares of Climb Global Solutions during the 4th quarter valued at $218,000. 49.72% of the stock is currently owned by hedge funds and other institutional investors.

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.