Goldman Sachs Group Inc. Has $879,000 Stock Position in Climb Global Solutions, Inc. $CLMB

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Climb Global Solutions by 57.1%, bringing its holdings to 7,933 shares worth $879,000.
• Climb Global Solutions reported $1.39 earnings per share for the last quarter, exceeding analysts' expectations of $0.90 by $0.49, and had a revenue of $159.28 million.
• The company announced a $0.17 quarterly dividend, translating to an annualized yield of 0.5% and a payout ratio of 14.11%.

Goldman Sachs Group Inc. cut its position in shares of Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) by 57.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,933 shares of the company's stock after selling 10,580 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.17% of Climb Global Solutions worth $879,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CLMB. State of Wyoming bought a new stake in shares of Climb Global Solutions in the fourth quarter valued at approximately $64,000. Banque Transatlantique SA purchased a new stake in shares of Climb Global Solutions in the 1st quarter valued at $60,000. AlphaQuest LLC purchased a new stake in Climb Global Solutions during the 1st quarter valued at $78,000. MeadowBrook Investment Advisors LLC boosted its position in Climb Global Solutions by 61.1% during the 1st quarter. MeadowBrook Investment Advisors LLC now owns 1,530 shares of the company's stock valued at $169,000 after buying an additional 580 shares during the period. Finally, Kovitz Investment Group Partners LLC purchased a new stake in Climb Global Solutions during the 1st quarter valued at $202,000. 49.72% of the stock is currently owned by hedge funds and other institutional investors.

Climb Global Solutions Trading Up 3.0%

Shares of NASDAQ:CLMB opened at $136.07 on Tuesday. The company has a market cap of $628.64 million, a PE ratio of 28.23, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. Climb Global Solutions, Inc. has a twelve month low of $88.90 and a twelve month high of $144.99. The company's 50 day moving average is $117.95 and its 200 day moving average is $111.21.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.49. The company had revenue of $159.28 million for the quarter, compared to analyst estimates of $113.25 million. Climb Global Solutions had a return on equity of 29.16% and a net margin of 3.82%. Equities research 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 business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Monday, August 11th were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.5%. Climb Global Solutions's payout ratio is presently 14.11%.

Analysts Set New Price Targets

Separately, Barrington Research reiterated an "outperform" rating and issued a $136.00 price target on shares of Climb Global Solutions in a research note on Thursday, September 11th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target 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.

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