Climb Global Solutions (NASDAQ:CLMB) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Climb Global Solutions (NASDAQ:CLMB) from a "hold" to a "sell", even though MarketBeat's consensus across analysts remains a Moderate Buy with a $31.00 price target.
• Shares jumped about 13.2% to open at $18.89 after the quarter in which EPS of $0.19 missed estimates by $0.04 while revenue of $182.38 million beat consensus expectations.
• CEO Dale Richard Foster sold 34,000 shares at roughly $20.13 (reducing his ownership by ~10.34%); corporate insiders own 6.10% of the stock and institutional investors hold about 49.7%.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

CLMB has been the subject of a number of other research reports. Northcoast Research raised Climb Global Solutions to a "strong-buy" rating in a research report on Monday, March 23rd. Barrington Research reissued an "outperform" rating and issued a $30.00 price objective on shares of Climb Global Solutions in a research report on Tuesday, April 21st. Zacks Research raised Climb Global Solutions from a "strong sell" rating to a "hold" rating in a research report on Tuesday, January 6th. Northland Securities started coverage on Climb Global Solutions in a research report on Monday, March 23rd. They issued an "outperform" rating and a $32.00 price objective for the company. Finally, Weiss Ratings raised Climb Global Solutions from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.

Climb Global Solutions Stock Up 13.2%

Shares of Climb Global Solutions stock opened at $18.89 on Friday. The stock has a market capitalization of $348.90 million, a P/E ratio of 16.57, a PEG ratio of 1.05 and a beta of 1.01. The stock has a 50 day moving average price of $21.49 and a two-hundred day moving average price of $26.22. Climb Global Solutions has a 12-month low of $15.24 and a 12-month high of $36.26.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.04). The company had revenue of $182.38 million for the quarter, compared to the consensus estimate of $151.33 million. Climb Global Solutions had a return on equity of 20.81% and a net margin of 3.01%. Sell-side analysts anticipate that Climb Global Solutions will post 1.33 earnings per share for the current year.

Insider Buying and Selling at Climb Global Solutions

In other 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 value 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 represents a 10.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.10% of the company's stock.

Institutional Investors Weigh In On Climb Global Solutions

Several hedge funds have recently modified their holdings of CLMB. State of Alaska Department of Revenue bought a new stake in shares of Climb Global Solutions in the third quarter valued at approximately $27,000. Global Retirement Partners LLC bought a new position in Climb Global Solutions in the fourth quarter worth $36,000. Bard Associates Inc. bought a new position in Climb Global Solutions in the fourth quarter worth $55,000. Tower Research Capital LLC TRC lifted its position in Climb Global Solutions by 317.3% in the second quarter. Tower Research Capital LLC TRC now owns 555 shares of the company's stock worth $59,000 after purchasing an additional 422 shares during the period. Finally, Peterson Wealth Services lifted its position in Climb Global Solutions by 3,267.0% in the first quarter. Peterson Wealth Services now owns 3,569 shares of the company's stock worth $71,000 after purchasing an additional 3,463 shares during the period. 49.72% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.