LSV Asset Management Trims Stake in Climb Global Solutions, Inc. (NASDAQ:CLMB)

LSV Asset Management reduced its position in Climb Global Solutions, Inc. (NASDAQ:CLMB) by 56.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,400 shares of the company’s stock after selling 4,400 shares during the quarter. LSV Asset Management owned 0.07% of Climb Global Solutions worth $241,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Albert D Mason Inc. boosted its holdings in shares of Climb Global Solutions by 0.5% in the 1st quarter. Albert D Mason Inc. now owns 44,303 shares of the company’s stock worth $3,140,000 after purchasing an additional 233 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Climb Global Solutions by 94.2% in 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. Pinnacle Associates Ltd. boosted its holdings in shares of Climb Global Solutions by 1.4% in the 4th quarter. Pinnacle Associates Ltd. now owns 18,221 shares of the company’s stock worth $999,000 after purchasing an additional 258 shares in the last quarter. Strs Ohio lifted its stake in shares of Climb Global Solutions by 32.0% in the 4th quarter. Strs Ohio now owns 3,300 shares of the company’s stock valued at $180,000 after acquiring an additional 800 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Climb Global Solutions by 18.1% in the 4th quarter. Russell Investments Group Ltd. now owns 8,188 shares of the company’s stock valued at $449,000 after acquiring an additional 1,255 shares during the last quarter. 49.72% of the stock is currently owned by hedge funds and other institutional investors.

Climb Global Solutions Stock Up 1.8 %

Shares of NASDAQ:CLMB opened at $63.23 on Monday. Climb Global Solutions, Inc. has a 52-week low of $37.67 and a 52-week high of $73.25. The firm has a market capitalization of $290.23 million, a P/E ratio of 24.51, a P/E/G ratio of 2.17 and a beta of 1.00. The stock has a 50 day moving average price of $57.36 and a 200-day moving average price of $60.27. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.08 and a current ratio of 1.09.

Climb Global Solutions (NASDAQ:CLMB) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.15). The company had revenue of $92.42 million during the quarter, compared to analysts’ expectations of $105.44 million. Climb Global Solutions had a return on equity of 18.93% and a net margin of 3.26%. During the same quarter in the previous year, the company earned $0.74 EPS. As a group, equities research analysts anticipate that Climb Global Solutions, Inc. will post 2.92 EPS for the current fiscal year.

Climb Global Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 13th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.68 annualized dividend and a yield of 1.08%. Climb Global Solutions’s dividend payout ratio is 26.36%.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reissued an “outperform” rating and issued a $68.00 target price on shares of Climb Global Solutions in a research note on Tuesday, May 28th.

Climb Global Solutions 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.