Ballast Asset Management LP Decreases Holdings in Climb Global Solutions, Inc. (NASDAQ:CLMB)

Ballast Asset Management LP cut its holdings in shares of Climb Global Solutions, Inc. (NASDAQ:CLMB) by 17.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,358 shares of the company’s stock after selling 16,601 shares during the period. Climb Global Solutions comprises approximately 5.1% of Ballast Asset Management LP’s investment portfolio, making the stock its biggest position. Ballast Asset Management LP owned 1.72% of Climb Global Solutions worth $10,059,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CLMB. Arrowstreet Capital Limited Partnership bought a new stake in shares of Climb Global Solutions during the 4th quarter worth $476,000. JPMorgan Chase & Co. lifted its holdings in shares of Climb Global Solutions by 112.9% in the fourth quarter. JPMorgan Chase & Co. now owns 16,088 shares of the company’s stock worth $2,039,000 after acquiring an additional 8,530 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Climb Global Solutions by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 232,712 shares of the company’s stock worth $29,496,000 after acquiring an additional 5,195 shares during the last quarter. LPL Financial LLC acquired a new stake in shares of Climb Global Solutions in the 4th quarter valued at approximately $1,093,000. Finally, Summit Global Investments bought a new stake in shares of Climb Global Solutions during the 4th quarter valued at approximately $350,000. Institutional investors and hedge funds own 49.72% of the company’s stock.

Climb Global Solutions Stock Up 1.6 %

NASDAQ CLMB opened at $110.76 on Tuesday. The company has a market cap of $510.27 million, a price-to-earnings ratio of 30.02, a price-to-earnings-growth ratio of 1.74 and a beta of 1.18. Climb Global Solutions, Inc. has a twelve month low of $49.70 and a twelve month high of $145.00. The business’s fifty day moving average is $122.98 and its 200 day moving average is $119.34.

Climb Global Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 17th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Monday, March 17th. Climb Global Solutions’s dividend payout ratio (DPR) is currently 16.75%.

Insider Activity

In other Climb Global Solutions news, insider Charles Edward Bass sold 8,117 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $124.71, for a total value of $1,012,271.07. Following the sale, the insider now owns 25,792 shares in the company, valued at approximately $3,216,520.32. The trade was a 23.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Andrew S. Bryant sold 2,604 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $122.00, for a total value 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. The trade was a 29.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,764 shares of company stock valued at $2,799,426 over the last quarter. 9.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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.