Ancora Advisors LLC Sells 6,225 Shares of Climb Global Solutions, Inc. $CLMB

Key Points

• Ancora Advisors LLC has reduced its stake in Climb Global Solutions by 38.9%, resulting in ownership of 9,798 shares valued at approximately $1.08 million as of the latest SEC filing.
• Multiple institutional investors are active in Climb Global Solutions, with Aptus Capital Advisors LLC purchasing a new stake valued at about $2.5 million and De Lisle Partners LLP increasing its holdings by 8.4% during the first quarter.
• Climb Global Solutions recently posted quarterly earnings that exceeded estimates, reporting an EPS of $1.39 compared to the consensus estimate of $0.90, with revenues reaching $159.28 million.

Ancora Advisors LLC decreased its holdings in Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) by 38.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,798 shares of the company's stock after selling 6,225 shares during the quarter. Ancora Advisors LLC owned 0.21% of Climb Global Solutions worth $1,085,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CLMB. Tower Research Capital LLC TRC lifted 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 period. State of Wyoming bought a new stake in shares of Climb Global Solutions during the 4th quarter valued at about $64,000. AlphaQuest LLC purchased a new stake in shares of Climb Global Solutions during the 1st quarter valued at about $78,000. MeadowBrook Investment Advisors LLC increased its position in shares of Climb Global Solutions by 61.1% during the 1st quarter. MeadowBrook Investment Advisors LLC now owns 1,530 shares of the company's stock valued at $169,000 after purchasing an additional 580 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC bought a new position in shares of Climb Global Solutions in the 1st quarter worth approximately $202,000. Hedge funds and other institutional investors own 49.72% of the company's stock.

Analysts Set New Price Targets

Separately, Barrington Research reiterated an "outperform" rating and set a $136.00 price target on shares of Climb Global Solutions in a research note on Monday, August 11th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $136.00.

Climb Global Solutions Trading Up 0.1%

Shares of CLMB traded up $0.17 during trading hours on Wednesday, reaching $125.39. 11,318 shares of the stock traded hands, compared to its average volume of 52,864. The company has a market cap of $579.28 million, a P/E ratio of 26.01, a price-to-earnings-growth ratio of 2.05 and a beta of 1.01. The company's 50-day moving average price is $114.21 and its two-hundred day moving average price is $110.73. Climb Global Solutions, Inc. has a 52-week low of $84.39 and a 52-week high of $144.99.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $0.90 by $0.49. Climb Global Solutions had a return on equity of 29.16% and a net margin of 3.82%.The business had revenue of $159.28 million for the quarter, compared to the consensus estimate of $113.25 million. On average, research analysts forecast that Climb Global Solutions, Inc. will post 4.14 EPS for the current year.

Climb Global Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Monday, August 11th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. Climb Global Solutions's payout ratio is 14.11%.

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.