Bard Associates Inc. Invests $4.19 Million in Climb Global Solutions, Inc. $CLMB

Key Points

• Bard Associates acquired 180,561 shares of Climb Global Solutions worth approximately $4.19 million, representing about 0.97% of the company. Several other institutions also initiated positions, bringing institutional ownership to 49.72%.
• Climb Global Solutions met quarterly expectations with EPS of $0.30 and revenue of $174.21 million, slightly exceeding analyst revenue estimates. The company reported a 2.88% net margin and 18.87% return on equity.
• Analyst sentiment is broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $31.00, versus a recent share price of $28.28.

Bard Associates Inc. acquired a new stake in Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 180,561 shares of the company's stock, valued at approximately $4,191,000. Bard Associates Inc. owned about 0.97% of Climb Global Solutions as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Tieton Capital Management LLC acquired a new position in Climb Global Solutions during the second quarter valued at approximately $15,948,000. BlackRock Inc. bought a new stake in shares of Climb Global Solutions during the 2nd quarter worth approximately $30,777,000. Deutsche Bank AG bought a new stake in shares of Climb Global Solutions during the 2nd quarter worth approximately $386,000. Flputnam Investment Management Co. acquired a new stake in shares of Climb Global Solutions in the 2nd quarter valued at approximately $481,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of Climb Global Solutions in the 2nd quarter valued at approximately $32,000. Institutional investors own 49.72% of the company's stock.

Climb Global Solutions Stock Performance

Shares of NASDAQ:CLMB opened at $28.28 on Friday. The firm has a 50 day moving average of $25.55 and a 200-day moving average of $23.67. The stock has a market capitalization of $527.73 million, a PE ratio of 25.36, a PEG ratio of 1.79 and a beta of 1.07. Climb Global Solutions, Inc. 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 posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $174.21 million for the quarter, compared to analyst estimates of $174.07 million. Climb Global Solutions had a net margin of 2.88% and a return on equity of 18.87%. On average, research analysts predict that Climb Global Solutions, Inc. will post 1.32 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. 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, May 5th. Wall Street Zen raised shares of Climb Global Solutions from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Finally, Weiss Ratings upgraded shares of Climb Global Solutions from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Climb Global Solutions has an average rating of "Moderate Buy" and an average price target of $31.00.

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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