Vanguard Group Inc. Acquires 7,737 Shares of Climb Global Solutions, Inc. $CLMB

Key Points

• Vanguard Group Inc. increased its holdings in Climb Global Solutions by 3.3%, owning approximately 5.25% of the company, valued at $26.6 million following an acquisition of additional shares.
• Climb Global Solutions reported a strong quarterly performance, with earnings per share of $1.39, significantly exceeding estimates, and revenues reaching $159.28 million, also surpassing consensus expectations.
• The company announced a quarterly dividend of $0.17 per share, representing a 0.5% yield and suggesting a sustainable payout ratio of 14.11%.

Vanguard Group Inc. boosted its holdings in Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 240,449 shares of the company's stock after purchasing an additional 7,737 shares during the quarter. Vanguard Group Inc. owned about 5.25% of Climb Global Solutions worth $26,632,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CLMB. Tower Research Capital LLC TRC increased 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 worth $60,000 after purchasing an additional 318 shares in the last quarter. State of Wyoming bought a new stake in Climb Global Solutions in the fourth quarter worth approximately $64,000. MeadowBrook Investment Advisors LLC increased its holdings in shares of Climb Global Solutions by 61.1% during the first quarter. MeadowBrook Investment Advisors LLC now owns 1,530 shares of the company's stock valued at $169,000 after acquiring an additional 580 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of Climb Global Solutions during the fourth quarter valued at approximately $209,000. Finally, Flagship Harbor Advisors LLC increased its holdings in shares of Climb Global Solutions by 18.0% during the first quarter. Flagship Harbor Advisors LLC now owns 2,324 shares of the company's stock valued at $257,000 after acquiring an additional 354 shares in the last quarter. 49.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Barrington Research restated an "outperform" rating and set a $136.00 price objective on shares of Climb Global Solutions in a report on Monday, August 11th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $136.00.

Climb Global Solutions Trading Up 0.7%

Climb Global Solutions stock traded up $0.82 during trading on Wednesday, hitting $125.43. 25,287 shares of the company were exchanged, compared to its average volume of 50,413. The business's 50 day moving average is $112.37 and its 200 day moving average is $110.78. Climb Global Solutions, Inc. has a 52 week low of $84.39 and a 52 week high of $144.99. The company has a market capitalization of $579.49 million, a P/E ratio of 26.02, a PEG ratio of 2.00 and a beta of 1.01.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $113.25 million. Equities analysts expect that Climb Global Solutions, Inc. will post 4.14 EPS for the current year.

Climb Global Solutions Dividend Announcement

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

Climb Global Solutions 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.