Independent Advisor Alliance Invests $1.28 Million in 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 acquired a new position in shares of Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 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 filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC raised its position in Climb Global Solutions by 18.0% in the first quarter. Flagship Harbor Advisors LLC now owns 2,324 shares of the company's stock valued at $257,000 after purchasing an additional 354 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in Climb Global Solutions in the first quarter valued at $349,000. GAMMA Investing LLC raised its position in Climb Global Solutions by 20,471.4% in the first quarter. GAMMA Investing LLC now owns 2,880 shares of the company's stock valued at $319,000 after purchasing an additional 2,866 shares during the period. Vanguard Group Inc. grew its stake in shares of Climb Global Solutions by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 232,712 shares of the company's stock valued at $29,496,000 after buying an additional 5,195 shares in the last quarter. Finally, LPL Financial LLC purchased a new stake in shares of Climb Global Solutions in the 4th quarter valued at $1,093,000. Hedge funds and other institutional investors own 49.72% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Barrington Research reiterated an "outperform" rating and issued a $136.00 price objective on shares of Climb Global Solutions in a report on Monday, August 11th.

Climb Global Solutions Stock Down 3.9%

NASDAQ CLMB traded down $4.86 during trading hours on Friday, hitting $118.75. 77,090 shares of the company were exchanged, compared to its average volume of 65,347. The company has a 50 day moving average of $107.70 and a two-hundred day moving average of $111.13. Climb Global Solutions, Inc. has a 52-week low of $83.86 and a 52-week high of $144.99. The firm has a market cap of $548.63 million, a price-to-earnings ratio of 24.64, a PEG ratio of 1.93 and a beta of 1.01.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last released 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 business had revenue of $159.28 million during the quarter, compared to analysts' expectations of $113.25 million. Climb Global Solutions had a return on equity of 29.16% and a net margin of 3.82%. On average, equities research analysts predict that Climb Global Solutions, Inc. will post 4.14 EPS for the current year.

Climb Global Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Monday, August 11th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, August 11th. Climb Global Solutions's dividend payout ratio is currently 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.