Climb Global Solutions (NASDAQ:CLMB) Director Acquires $75,320.00 in Stock

Key Points

• Director John McCarthy bought 4,000 shares on May 4 at $18.83 each for a total of $75,320, increasing his direct ownership to 85,876 shares (a 4.89% rise).
• Climb's quarter showed revenue of $182.38M beat estimates while EPS of $0.19 missed by $0.04, and the stock traded up about 4.9% to $19.67 on the news.
• Analyst coverage is mixed, with MarketBeat reporting an average rating of "Moderate Buy" and an average price target of $31.00.

Climb Global Solutions, Inc. (NASDAQ:CLMB - Get Free Report) Director John Mccarthy bought 4,000 shares of the company's stock in a transaction that occurred on Monday, May 4th. The stock was purchased at an average price of $18.83 per share, for a total transaction of $75,320.00. Following the acquisition, the director directly owned 85,876 shares in the company, valued at approximately $1,617,045.08. This trade represents a 4.89% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Climb Global Solutions Trading Up 4.9%

CLMB traded up $0.92 during trading on Tuesday, hitting $19.67. The stock had a trading volume of 157,980 shares, compared to its average volume of 269,092. The firm has a market cap of $363.30 million, a PE ratio of 17.29, a P/E/G ratio of 1.19 and a beta of 1.00. Climb Global Solutions, Inc. has a 12 month low of $15.24 and a 12 month high of $36.26. The company has a 50 day simple moving average of $21.49 and a 200-day simple moving average of $26.11.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.04). The firm had revenue of $182.38 million during the quarter, compared to the consensus estimate of $151.33 million. Climb Global Solutions had a return on equity of 20.43% and a net margin of 3.01%. As a group, sell-side analysts anticipate that Climb Global Solutions, Inc. will post 1.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CLMB shares. Weiss Ratings upgraded shares of Climb Global Solutions from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, April 22nd. Northcoast Research upgraded shares of Climb Global Solutions to a "strong-buy" rating in a research note on Monday, March 23rd. Zacks Research upgraded shares of Climb Global Solutions from a "strong sell" rating to a "hold" rating in a research note on Tuesday, January 6th. Northland Securities assumed coverage on shares of Climb Global Solutions in a report on Monday, March 23rd. They set an "outperform" rating and a $32.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Climb Global Solutions from a "hold" rating to a "sell" rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $31.00.

Institutional Investors Weigh In On Climb Global Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLMB. State of Alaska Department of Revenue acquired a new stake in Climb Global Solutions in the 3rd quarter valued at about $27,000. Global Retirement Partners LLC acquired a new stake in Climb Global Solutions in the 4th quarter valued at about $36,000. Bard Associates Inc. acquired a new stake in Climb Global Solutions in the 4th quarter valued at about $55,000. Tower Research Capital LLC TRC increased its position in Climb Global Solutions by 317.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 555 shares of the company's stock valued at $59,000 after acquiring an additional 422 shares in the last quarter. Finally, Peterson Wealth Services increased its position in Climb Global Solutions by 3,267.0% in the 1st quarter. Peterson Wealth Services now owns 3,569 shares of the company's stock valued at $71,000 after acquiring an additional 3,463 shares in the last quarter. Institutional investors and hedge funds 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.

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