BlackRock Inc. Buys Shares of 1,326,018 Climb Global Solutions, Inc. $CLMB

Key Points

• BlackRock acquired 1,326,018 shares of Climb Global Solutions in the second quarter, investing approximately $30.8 million and gaining a 7.11% stake. Institutional investors collectively own 49.72% of the company.
• Climb Global Solutions reported quarterly EPS of $0.30, in line with estimates, and revenue of $174.21 million, slightly above expectations. The stock opened at $27.99, with a one-year range of $15.24 to $36.26.
• Analyst sentiment is generally favorable: the stock has a “Moderate Buy” consensus rating and a $31.00 average price target, compared with its reported share price of $27.99.

BlackRock Inc. purchased a new stake in shares of Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 1,326,018 shares of the company's stock, valued at approximately $30,777,000. BlackRock Inc. owned 7.11% of Climb Global Solutions at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Tidal Investments LLC grew its holdings in shares of Climb Global Solutions by 4.7% in the 2nd quarter. Tidal Investments LLC now owns 2,415 shares of the company's stock worth $258,000 after acquiring an additional 108 shares during the period. Ameriprise Financial Inc. raised its holdings in Climb Global Solutions by 0.9% during the second quarter. Ameriprise Financial Inc. now owns 12,683 shares of the company's stock worth $1,356,000 after purchasing an additional 114 shares during the last quarter. Franklin Resources Inc. raised its holdings in Climb Global Solutions by 4.3% during the third quarter. Franklin Resources Inc. now owns 2,989 shares of the company's stock worth $403,000 after purchasing an additional 122 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Climb Global Solutions by 5.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,522 shares of the company's stock worth $279,000 after purchasing an additional 131 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in Climb Global Solutions by 5.5% during the fourth quarter. Deutsche Bank AG now owns 2,975 shares of the company's stock worth $306,000 after purchasing an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 49.72% of the company's stock.

Climb Global Solutions Price Performance

Shares of Climb Global Solutions stock opened at $27.99 on Wednesday. Climb Global Solutions, Inc. has a 1 year low of $15.24 and a 1 year high of $36.26. The company has a market capitalization of $522.29 million, a P/E ratio of 25.10, a P/E/G ratio of 1.80 and a beta of 1.09. The business has a 50 day moving average price of $26.33 and a 200 day moving average price of $23.53.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.30 EPS for the quarter, meeting analysts' consensus estimates of $0.30. The firm had revenue of $174.21 million for the quarter, compared to analysts' expectations of $174.07 million. Climb Global Solutions had a return on equity of 18.87% and a net margin of 2.88%. As a group, research analysts expect that Climb Global Solutions, Inc. will post 1.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CLMB. Wall Street Zen upgraded Climb Global Solutions from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Weiss Ratings upgraded shares of Climb Global Solutions from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, August 17th. Finally, Barrington Research reissued an "outperform" rating and issued a $30.00 price objective on shares of Climb Global Solutions in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Climb Global Solutions has an average rating of "Moderate Buy" and a consensus 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.

Want to see what other hedge funds are holding CLMB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report).

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.