Climb Global Solutions, Inc. $CLMB Shares Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon increased its Climb Global Solutions stake by 303.3% in the first quarter, reaching 120,965 shares valued at approximately $2.4 million. Institutional investors and hedge funds collectively own 49.72% of the company.
• Analysts maintain a generally positive outlook, with Climb Global Solutions holding a consensus “Moderate Buy” rating and an average price target of $31.00; Barrington Research set a $30.00 target.
• The company’s latest quarter met expectations, reporting adjusted earnings of $0.30 per share and revenue of $174.21 million. Shares opened at $27.81, compared with a 52-week range of $15.24 to $36.26.

Bank of New York Mellon Corp lifted its holdings in Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) by 303.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 120,965 shares of the company's stock after purchasing an additional 90,970 shares during the quarter. Bank of New York Mellon Corp owned 0.65% of Climb Global Solutions worth $2,398,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Climb Global Solutions by 5.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,522 shares of the company's stock worth $279,000 after buying an additional 131 shares in the last quarter. Jane Street Group LLC bought a new stake in Climb Global Solutions during the first quarter worth approximately $426,000. JPMorgan Chase & Co. boosted its stake in Climb Global Solutions by 221.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 32,914 shares of the company's stock valued at $3,519,000 after purchasing an additional 22,676 shares in the last quarter. Rhumbline Advisers boosted its stake in Climb Global Solutions by 21.1% during the 2nd quarter. Rhumbline Advisers now owns 6,007 shares of the company's stock valued at $642,000 after purchasing an additional 1,047 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Climb Global Solutions by 31.4% during the 2nd quarter. American Century Companies Inc. now owns 9,028 shares of the company's stock valued at $965,000 after purchasing an additional 2,159 shares during the period. 49.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CLMB has been the subject of several research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Climb Global Solutions in a research note on Monday, August 3rd. Barrington Research reaffirmed an "outperform" rating and set a $30.00 target price on shares of Climb Global Solutions in a report on Tuesday, May 5th. Finally, Wall Street Zen upgraded Climb Global Solutions from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. One 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 company. Based on data from MarketBeat, Climb Global Solutions currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.

Climb Global Solutions Price Performance

Climb Global Solutions stock opened at $27.81 on Monday. Climb Global Solutions, Inc. has a fifty-two week low of $15.24 and a fifty-two week high of $36.26. The firm has a fifty day moving average price of $24.53 and a two-hundred day moving average price of $23.75. The firm has a market cap of $518.96 million, a price-to-earnings ratio of 24.94, a P/E/G ratio of 1.76 and a beta of 1.07.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.30 EPS for the quarter, hitting analysts' consensus estimates of $0.30. Climb Global Solutions had a net margin of 2.88% and a return on equity of 18.87%. The company had revenue of $174.21 million during the quarter, compared to the consensus estimate of $174.07 million. As a group, sell-side analysts expect that Climb Global Solutions, Inc. will post 1.32 earnings per share for the current year.

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.

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