Wasatch Advisors LP Acquires 326,520 Shares of Climb Global Solutions, Inc. $CLMB

Wasatch Advisors LP boosted its holdings in Climb Global Solutions, Inc. (NASDAQ:CLMB) by 116.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 607,680 shares of the company’s stock after purchasing an additional 326,520 shares during the quarter. Wasatch Advisors LP’s holdings in Climb Global Solutions were worth $12,044,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CLMB. De Lisle Partners LLP raised its position in shares of Climb Global Solutions by 2.7% during the fourth quarter. De Lisle Partners LLP now owns 246,988 shares of the company’s stock valued at $25,430,000 after buying an additional 6,400 shares during the last quarter. AltraVue Capital LLC grew its stake in Climb Global Solutions by 85.3% during the fourth quarter. AltraVue Capital LLC now owns 189,851 shares of the company’s stock valued at $19,515,000 after acquiring an additional 87,380 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Climb Global Solutions by 41.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 145,416 shares of the company’s stock valued at $14,947,000 after acquiring an additional 42,938 shares during the last quarter. Punch & Associates Investment Management Inc. lifted its stake in 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 worth $13,848,000 after purchasing an additional 6,377 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Climb Global Solutions by 20.3% during the 4th quarter. Geode Capital Management LLC now owns 129,194 shares of the company’s stock valued at $13,283,000 after purchasing an additional 21,781 shares during the last quarter. 49.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director John R. Mccarthy bought 4,000 shares of the stock in a transaction dated Monday, May 4th. The stock was purchased at an average cost of $18.83 per share, with a total value of $75,320.00. Following the completion of the purchase, the director owned 85,876 shares of the company’s stock, valued at $1,617,045.08. This trade represents a 4.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

CLMB has been the topic of several research reports. Barrington Research reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Climb Global Solutions in a report on Tuesday, May 5th. Wall Street Zen cut Climb Global Solutions from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Northcoast Research raised Climb Global Solutions to a “strong-buy” rating in a research note on Monday, March 23rd. Northland Securities assumed coverage on Climb Global Solutions in a report on Monday, March 23rd. They set an “outperform” rating and a $32.00 price objective on the stock. Finally, Weiss Ratings downgraded Climb Global Solutions from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $31.00.

Climb Global Solutions Stock Performance

Shares of Climb Global Solutions stock opened at $22.34 on Friday. The stock has a market cap of $415.52 million, a price-to-earnings ratio of 19.60, a price-to-earnings-growth ratio of 1.41 and a beta of 1.09. The stock has a 50 day moving average price of $21.49 and a 200-day moving average price of $24.21. Climb Global Solutions, Inc. has a one year low of $15.24 and a one year high of $36.26.

Climb Global Solutions (NASDAQ:CLMB) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). Climb Global Solutions had a return on equity of 20.43% and a net margin of 3.01%.The firm had revenue of $182.38 million during the quarter, compared to analysts’ expectations of $151.33 million. Sell-side analysts predict that Climb Global Solutions, Inc. will post 1.32 earnings per share for the current fiscal year.

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.