Climb Global Solutions, Inc. (NASDAQ:CLMB) Short Interest Up 15.4% in June

Climb Global Solutions, Inc. (NASDAQ:CLMB) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totalling 39,700 shares, an increase of 15.4% from the June 15th total of 34,400 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily volume of 15,100 shares, the days-to-cover ratio is currently 2.6 days.

Climb Global Solutions Stock Down 4.6 %

Shares of CLMB traded down $3.21 during mid-day trading on Wednesday, reaching $66.60. The company’s stock had a trading volume of 28,070 shares, compared to its average volume of 13,024. The company has a market cap of $305.36 million, a price-to-earnings ratio of 25.72, a price-to-earnings-growth ratio of 2.20 and a beta of 1.00. The business has a fifty day moving average of $57.74 and a 200 day moving average of $60.43. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 0.01. Climb Global Solutions has a 1 year low of $37.67 and a 1 year high of $73.25.

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

Climb Global Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 13th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Friday, May 10th. Climb Global Solutions’s dividend payout ratio is 26.36%.

Institutional Investors Weigh In On Climb Global Solutions

Several hedge funds have recently modified their holdings of the business. Wasatch Advisors LP lifted its position in Climb Global Solutions by 1,836.3% in the fourth 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 during the period. Tieton Capital Management LLC boosted its position in shares of Climb Global Solutions by 32.5% during the 4th quarter. Tieton Capital Management LLC now owns 123,404 shares of the company’s stock valued at $6,766,000 after acquiring an additional 30,248 shares in the last quarter. Significant Wealth Partners LLC bought a new stake in Climb Global Solutions in the fourth quarter valued at about $1,148,000. Vanguard Group Inc. raised its position in Climb Global Solutions by 3.4% in the first quarter. Vanguard Group Inc. now owns 223,907 shares of the company’s stock worth $15,871,000 after purchasing an additional 7,447 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC bought a new position in Climb Global Solutions during the fourth quarter worth about $226,000. 49.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.