Insider Selling: Climb Global Solutions, Inc. (NASDAQ:CLMB) Director Sells 2,604 Shares of Stock

Climb Global Solutions, Inc. (NASDAQ:CLMB) Director Andrew S. Bryant sold 2,604 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $122.00, for a total transaction of $317,688.00. Following the completion of the sale, the director now directly owns 6,274 shares of the company’s stock, valued at approximately $765,428. This trade represents a 29.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Climb Global Solutions Price Performance

Shares of CLMB stock traded down $2.35 during mid-day trading on Wednesday, hitting $118.65. The stock had a trading volume of 27,287 shares, compared to its average volume of 25,006. Climb Global Solutions, Inc. has a 12-month low of $49.70 and a 12-month high of $145.00. The firm’s 50-day moving average is $126.56 and its two-hundred day moving average is $117.10. The firm has a market capitalization of $546.62 million, a P/E ratio of 32.15, a price-to-earnings-growth ratio of 1.74 and a beta of 1.18.

Climb Global Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 17th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.68 annualized dividend and a dividend yield of 0.57%. Climb Global Solutions’s payout ratio is currently 16.75%.

Wall Street Analyst Weigh In

Separately, Barrington Research reaffirmed an “outperform” rating and set a $136.00 price target on shares of Climb Global Solutions in a research note on Thursday, March 6th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Climb Global Solutions in the 4th quarter valued at about $722,000. Tidal Investments LLC purchased a new position in Climb Global Solutions during the fourth quarter valued at approximately $289,000. State of Wyoming bought a new position in Climb Global Solutions in the fourth quarter worth approximately $64,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Climb Global Solutions by 4.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,391 shares of the company’s stock worth $303,000 after buying an additional 96 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in Climb Global Solutions by 195.2% during the fourth quarter. Lazard Asset Management LLC now owns 10,780 shares of the company’s stock worth $1,366,000 after buying an additional 7,128 shares during the period. 49.72% of the stock is currently owned by institutional investors.

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.