Cynosure Group LLC Makes New $321,000 Investment in Climb Global Solutions, Inc. (NASDAQ:CLMB)

Key Points

• Cynosure Group LLC has made a new investment of $321,000 in Climb Global Solutions, acquiring 2,894 shares, representing about 0.06% of the company.
• Climb Global Solutions recently reported a net income of $1.39 EPS for the quarter, exceeding the consensus estimate by $0.49, and had revenue of $159.28 million.
• The company is set to pay a quarterly dividend of $0.17 per share on August 15, with a current yield of 0.6% and a payout ratio of 14.11%.

Cynosure Group LLC bought a new position in Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,894 shares of the company's stock, valued at approximately $321,000. Cynosure Group LLC owned approximately 0.06% of Climb Global Solutions as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CLMB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Climb Global Solutions by 4.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,391 shares of the company's stock worth $303,000 after buying an additional 96 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of Climb Global Solutions by 28.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 440 shares of the company's stock worth $56,000 after buying an additional 97 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Climb Global Solutions by 0.3% in the fourth quarter. Northern Trust Corp now owns 48,768 shares of the company's stock worth $6,181,000 after buying an additional 137 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Climb Global Solutions by 6.0% in the first quarter. Rhumbline Advisers now owns 4,960 shares of the company's stock worth $549,000 after buying an additional 282 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Climb Global Solutions by 3.5% in the fourth quarter. Barclays PLC now owns 8,897 shares of the company's stock worth $1,128,000 after buying an additional 300 shares during the last quarter. 49.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Barrington Research restated an "outperform" rating and issued a $136.00 price objective on shares of Climb Global Solutions in a research note on Friday, July 25th.

Climb Global Solutions Price Performance

NASDAQ:CLMB opened at $114.97 on Monday. The stock has a market cap of $531.16 million, a P/E ratio of 23.85, a PEG ratio of 1.86 and a beta of 1.01. Climb Global Solutions, Inc. has a one year low of $78.20 and a one year high of $144.99. The company has a fifty day moving average price of $105.95 and a 200 day moving average price of $111.26.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $0.90 by $0.49. The firm had revenue of $159.28 million during the quarter, compared to analysts' expectations of $113.25 million. Climb Global Solutions had a net margin of 3.82% and a return on equity of 29.16%. As a group, equities research analysts anticipate that Climb Global Solutions, Inc. will post 4.14 EPS for the current year.

Climb Global Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Monday, August 11th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, August 11th. Climb Global Solutions's dividend payout ratio is presently 14.11%.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.