Climb Global Solutions Stock Scheduled to Split on Monday, March 23rd (NASDAQ:CLMB)

Shares of Climb Global Solutions, Inc. (NASDAQ:CLMB) are going to split before the market opens on Monday, March 23rd. The 4-1 split was announced on Monday, March 2nd. The newly issued shares will be payable to shareholders after the closing bell on Friday, March 20th.

Climb Global Solutions Stock Performance

Shares of Climb Global Solutions stock opened at $80.54 on Friday. The stock has a market cap of $371.29 million, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 1.27 and a beta of 1.18. The stock has a 50 day moving average price of $110.39 and a 200-day moving average price of $116.26. Climb Global Solutions has a one year low of $79.26 and a one year high of $145.02.

Climb Global Solutions (NASDAQ:CLMB) last released its earnings results on Wednesday, February 25th. The company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.27. The firm had revenue of $193.85 million for the quarter, compared to the consensus estimate of $167.75 million. Climb Global Solutions had a return on equity of 21.86% and a net margin of 3.27%. Sell-side analysts predict that Climb Global Solutions will post 4.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CLMB shares. Zacks Research raised shares of Climb Global Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Barrington Research cut their price target on shares of Climb Global Solutions from $136.00 to $120.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. Weiss Ratings lowered shares of Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Finally, Wall Street Zen downgraded shares of Climb Global Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $120.00.

Institutional Investors Weigh In On Climb Global Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors LP raised its stake in shares of Climb Global Solutions by 7.7% during the third quarter. Wasatch Advisors LP now owns 302,880 shares of the company’s stock valued at $40,840,000 after acquiring an additional 21,749 shares in the last quarter. De Lisle Partners LLP grew its position in shares of Climb Global Solutions by 2.7% during the 4th quarter. De Lisle Partners LLP now owns 246,988 shares of the company’s stock worth $25,430,000 after buying an additional 6,400 shares in the last quarter. AltraVue Capital LLC increased its position in Climb Global Solutions by 85.3% during the 4th quarter. AltraVue Capital LLC now owns 189,851 shares of the company’s stock valued at $19,515,000 after purchasing an additional 87,380 shares during the period. Thrivent Financial for Lutherans increased its holdings in Climb Global Solutions by 41.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 145,416 shares of the company’s stock valued at $14,947,000 after buying an additional 42,938 shares during the period. Finally, Punch & Associates Investment Management Inc. increased its holdings in shares of Climb Global Solutions by 5.0% in the 4th quarter. Punch & Associates Investment Management Inc. now owns 134,717 shares of the company’s stock valued at $13,848,000 after acquiring an additional 6,377 shares during the period. Institutional investors own 49.72% of the company’s stock.

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.