Jacobs Levy Equity Management Inc. Decreases Position in Climb Global Solutions, Inc. $CLMB

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in Climb Global Solutions by 33.4%, bringing its holdings to 4,447 shares valued at approximately $493,000.
• Climb Global Solutions reported an EPS of $1.39 for the quarter, exceeding estimates, with a revenue of $159.28 million, surpassing the consensus estimate of $113.25 million.
• The company announced a quarterly dividend of $0.17 per share, resulting in an annualized yield of 0.5% and a payout ratio of 14.11%.

Jacobs Levy Equity Management Inc. trimmed its stake in shares of Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) by 33.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,447 shares of the company's stock after selling 2,228 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.10% of Climb Global Solutions worth $493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Banque Transatlantique SA bought a new position in Climb Global Solutions during the 1st quarter worth approximately $60,000. Magnetar Financial LLC bought a new stake in shares of Climb Global Solutions in the 1st quarter worth approximately $399,000. State of Wyoming grew its position in shares of Climb Global Solutions by 76.8% in the 1st quarter. State of Wyoming now owns 893 shares of the company's stock worth $99,000 after buying an additional 388 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Climb Global Solutions in the 1st quarter worth approximately $320,000. Finally, AlphaQuest LLC bought a new stake in shares of Climb Global Solutions in the 1st quarter worth approximately $78,000. 49.72% of the stock is currently owned by institutional investors.

Climb Global Solutions Trading Up 2.9%

Shares of NASDAQ:CLMB traded up $3.73 during mid-day trading on Thursday, reaching $134.31. The stock had a trading volume of 34,875 shares, compared to its average volume of 34,519. The company has a market cap of $620.51 million, a P/E ratio of 27.87, a price-to-earnings-growth ratio of 2.12 and a beta of 1.01. Climb Global Solutions, Inc. has a 1 year low of $88.90 and a 1 year high of $144.99. The business's 50 day moving average price is $116.94 and its 200 day moving average price is $111.30.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.49. The company had revenue of $159.28 million for the quarter, compared to the consensus estimate of $113.25 million. Climb Global Solutions had a return on equity of 29.16% and a net margin of 3.82%. Analysts predict that Climb Global Solutions, Inc. will post 4.14 earnings per share for the current fiscal year.

Climb Global Solutions Announces Dividend

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

Analyst Ratings Changes

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

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.