Northland Securities Initiates Coverage on Climb Global Solutions (NASDAQ:CLMB)

Northland Securities started coverage on shares of Climb Global Solutions (NASDAQ:CLMB) in a research note issued on Monday. The brokerage set an “outperform” rating and a $32.00 price target on the stock. Northland Securities’ price target would suggest a potential downside of 59.26% from the company’s current price.

Several other equities research analysts also recently commented on CLMB. Zacks Research raised shares of Climb Global Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Wall Street Zen downgraded Climb Global Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Barrington Research cut their target price on Climb Global Solutions from $34.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Finally, Weiss Ratings lowered Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.00.

Climb Global Solutions Trading Up 0.9%

NASDAQ CLMB opened at $78.55 on Monday. The company has a fifty day simple moving average of $26.74 and a 200 day simple moving average of $28.65. Climb Global Solutions has a 12-month low of $75.62 and a 12-month high of $145.02. The company has a market cap of $362.12 million, a P/E ratio of 16.89, a PEG ratio of 1.24 and a beta of 1.18.

Climb Global Solutions (NASDAQ:CLMB) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.06. Climb Global Solutions had a net margin of 3.27% and a return on equity of 21.86%. The firm had revenue of $193.85 million for the quarter, compared to the consensus estimate of $167.75 million. Sell-side analysts predict that Climb Global Solutions will post 4.14 EPS for the current year.

Insider Activity

In related news, CEO Dale Richard Foster sold 34,000 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $20.13, for a total transaction of $684,250.00. Following the completion of the sale, the chief executive officer directly owned 294,760 shares of the company’s stock, valued at approximately $5,932,045. This trade represents a 10.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Climb Global Solutions

A number of hedge funds have recently made changes to their positions in the business. Conestoga Capital Advisors LLC purchased a new stake in Climb Global Solutions during the third quarter worth about $1,210,000. New York State Common Retirement Fund boosted its stake in Climb Global Solutions by 1,069.8% in the third quarter. New York State Common Retirement Fund now owns 21,465 shares of the company’s stock valued at $2,894,000 after acquiring an additional 19,630 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Climb Global Solutions by 37.8% in the third quarter. Thrivent Financial for Lutherans now owns 102,478 shares of the company’s stock valued at $13,818,000 after acquiring an additional 28,089 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Climb Global Solutions during the 2nd quarter valued at approximately $999,000. Finally, Rhumbline Advisers grew its position in shares of Climb Global Solutions by 454.5% during the 3rd quarter. Rhumbline Advisers now owns 33,311 shares of the company’s stock valued at $4,492,000 after acquiring an additional 27,304 shares during the period. 49.72% of the stock is currently owned by institutional investors.

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.