Independent Advisor Alliance Buys Shares of 11,597 Climb Global Solutions, Inc. (NASDAQ:CLMB)

Key Points

• Independent Advisor Alliance invested approximately $1.28 million in Climb Global Solutions, acquiring 11,597 shares during the 1st quarter.
• Climb Global Solutions reported earnings per share of $1.39 for the last quarter, significantly exceeding expectations of $0.90, with a revenue of $159.28 million.
• The company announced a quarterly dividend of $0.17 per share, with a payout ratio of 14.11%, and is expected to have an annual yield of 0.5% for investors.

Independent Advisor Alliance bought a new stake in Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,597 shares of the company's stock, valued at approximately $1,284,000. Independent Advisor Alliance owned approximately 0.25% of Climb Global Solutions as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Climb Global Solutions by 4.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,391 shares of the company's stock worth $303,000 after acquiring an additional 96 shares during the period. Summit Investment Advisors Inc. lifted its holdings in Climb Global Solutions by 28.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 440 shares of the company's stock worth $56,000 after acquiring an additional 97 shares during the period. Northern Trust Corp lifted its holdings in Climb Global Solutions by 0.3% during the fourth quarter. Northern Trust Corp now owns 48,768 shares of the company's stock worth $6,181,000 after acquiring an additional 137 shares during the period. Rhumbline Advisers lifted its holdings in Climb Global Solutions by 6.0% during the first quarter. Rhumbline Advisers now owns 4,960 shares of the company's stock worth $549,000 after acquiring an additional 282 shares during the period. Finally, Barclays PLC raised 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 valued at $1,128,000 after buying an additional 300 shares during the period. Institutional investors own 49.72% of the company's stock.

Climb Global Solutions Stock Performance

Climb Global Solutions stock traded down $4.86 during midday trading on Friday, hitting $118.75. 77,090 shares of the company's stock were exchanged, compared to its average volume of 54,398. Climb Global Solutions, Inc. has a 52-week low of $83.86 and a 52-week high of $144.99. The stock has a 50-day moving average price of $107.44 and a two-hundred day moving average price of $111.35. The company has a market cap of $548.63 million, a P/E ratio of 24.64, a PEG ratio of 2.08 and a beta of 1.01.

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 the consensus estimate of $0.90 by $0.49. Climb Global Solutions had a return on equity of 29.16% and a net margin of 3.82%. The business had revenue of $159.28 million during the quarter, compared to analysts' expectations of $113.25 million. As a group, sell-side analysts expect that Climb Global Solutions, Inc. will post 4.14 earnings per share for the current year.

Climb Global Solutions Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, Barrington Research restated an "outperform" rating and issued a $136.00 target price on shares of Climb Global Solutions in a research note on Monday.

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.