Climb Global Solutions, Inc. $CLMB Stake Reduced by Jacobs Levy Equity Management Inc.

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

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

Climb Global Solutions Trading Up 0.9%

NASDAQ CLMB opened at $131.76 on Friday. The stock's 50-day moving average price is $115.39 and its two-hundred day moving average price is $110.99. The company has a market cap of $608.73 million, a PE ratio of 27.34, a PEG ratio of 2.12 and a beta of 1.01. Climb Global Solutions, Inc. has a 1 year low of $88.11 and a 1 year high of $144.99.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last posted its quarterly earnings data 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. The firm 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%. Research analysts forecast that Climb Global Solutions, Inc. will post 4.14 EPS for the current fiscal year.

Climb Global Solutions Announces Dividend

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

Analyst Ratings Changes

Separately, Barrington Research restated an "outperform" rating and set a $136.00 price objective on shares of Climb Global Solutions in a report on Thursday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $136.00.

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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