First Trust Advisors LP Raises Holdings in Climb Global Solutions, Inc. $CLMB

Key Points

• First Trust Advisors LP increased its Climb Global Solutions stake by 302.2% in the first quarter, holding 58,726 shares worth approximately $1.16 million. Institutional investors collectively own 49.72% of CLMB.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $31.00, above its recent $27.81 opening price.
• Climb Global Solutions met quarterly expectations with $0.30 in EPS and $174.21 million in revenue, while analysts forecast full-year EPS of $1.32.

First Trust Advisors LP raised its holdings in shares of Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) by 302.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,726 shares of the company's stock after purchasing an additional 44,124 shares during the quarter. First Trust Advisors LP owned approximately 0.32% of Climb Global Solutions worth $1,164,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CLMB. Global Retirement Partners LLC purchased a new stake in Climb Global Solutions during the 4th quarter worth about $36,000. Bard Associates Inc. purchased a new stake in Climb Global Solutions in the 4th quarter worth approximately $55,000. Tower Research Capital LLC TRC boosted its stake in Climb Global Solutions by 317.3% during the second quarter. Tower Research Capital LLC TRC now owns 555 shares of the company's stock valued at $59,000 after buying an additional 422 shares during the period. Peterson Wealth Services boosted its position in shares of Climb Global Solutions by 3,267.0% during the 1st quarter. Peterson Wealth Services now owns 3,569 shares of the company's stock valued at $71,000 after acquiring an additional 3,463 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in Climb Global Solutions by 31,866.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 959 shares of the company's stock valued at $99,000 after purchasing an additional 956 shares during the last quarter. 49.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CLMB shares. Wall Street Zen raised Climb Global Solutions from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Weiss Ratings restated a "hold (c)" rating on shares of Climb Global Solutions in a report on Monday, August 3rd. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $30.00 target price on shares of Climb Global Solutions in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $31.00.

Climb Global Solutions Stock Performance

Shares of NASDAQ:CLMB opened at $27.81 on Monday. The firm has a market capitalization of $518.96 million, a P/E ratio of 24.94, a P/E/G ratio of 1.76 and a beta of 1.07. The stock has a 50 day moving average price of $24.53 and a 200-day moving average price of $23.75. Climb Global Solutions, Inc. has a 52-week low of $15.24 and a 52-week high of $36.26.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.30 EPS for the quarter, meeting 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 firm had revenue of $174.21 million for the quarter, compared to analysts' expectations of $174.07 million. On average, equities analysts forecast that Climb Global Solutions, Inc. will post 1.32 EPS for the current fiscal year.

Climb Global Solutions Company 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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