Ameriprise Financial Inc. Raises Stake in Climb Global Solutions, Inc. (NASDAQ:CLMB)

Ameriprise Financial Inc. raised its holdings in Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) by 81.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,965 shares of the company's stock after acquiring an additional 7,616 shares during the period. Ameriprise Financial Inc. owned about 0.37% of Climb Global Solutions worth $2,150,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Summit Investment Advisors Inc. grew its holdings in shares of Climb Global Solutions by 28.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 440 shares of the company's stock worth $56,000 after purchasing an additional 97 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Climb Global Solutions by 200.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 477 shares of the company's stock valued at $60,000 after acquiring an additional 318 shares during the last quarter. MeadowBrook Investment Advisors LLC bought a new stake in Climb Global Solutions in the fourth quarter valued at approximately $120,000. Price T Rowe Associates Inc. MD bought a new stake in Climb Global Solutions in the fourth quarter valued at approximately $209,000. Finally, Cornerstone Investment Partners LLC acquired a new position in Climb Global Solutions in the fourth quarter valued at approximately $236,000. Institutional investors own 49.72% of the company's stock.

Wall Street Analyst Weigh In

Separately, Barrington Research reissued an "outperform" rating and issued a $136.00 price target on shares of Climb Global Solutions in a research note on Tuesday, May 13th.

Climb Global Solutions Stock Down 0.9%

CLMB traded down $1.04 during trading on Friday, hitting $109.60. The company's stock had a trading volume of 317,857 shares, compared to its average volume of 32,578. Climb Global Solutions, Inc. has a twelve month low of $54.79 and a twelve month high of $145.00. The stock's fifty day moving average price is $106.25 and its 200-day moving average price is $119.73. The firm has a market capitalization of $504.38 million, a P/E ratio of 29.70, a PEG ratio of 1.74 and a beta of 1.12.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, missing analysts' consensus estimates of $0.89 by ($0.03). Climb Global Solutions had a return on equity of 23.63% and a net margin of 4.11%. The firm had revenue of $138.04 million for the quarter, compared to analyst estimates of $96.86 million. Equities research analysts expect that Climb Global Solutions, Inc. will post 4.14 EPS for the current fiscal year.

Climb Global Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Monday, May 12th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Monday, May 12th. Climb Global Solutions's payout ratio is currently 15.93%.

Insider Activity at Climb Global Solutions

In other news, Director Andrew S. Bryant sold 2,543 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $125.50, for a total transaction of $319,146.50. Following the completion of the transaction, the director now owns 11,261 shares in the company, valued at approximately $1,413,255.50. This represents a 18.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Greg Scorziello sold 5,767 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $100.63, for a total value of $580,333.21. Following the transaction, the director now owns 1,774 shares of the company's stock, valued at $178,517.62. The trade was a 76.48% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 28,531 shares of company stock valued at $3,379,759. 6.10% of the stock is owned by insiders.

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.