Climb Global Solutions, Inc. $CLMB Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its holdings in Climb Global Solutions by 21.7%, selling 20,632 shares and now owning 74,567 shares, valued at approximately $8.26 million.
• Climb Global Solutions reported earnings of $1.39 per share for the recent quarter, significantly exceeding expectations of $0.90.
• The company recently announced a quarterly dividend of $0.17 per share, reflecting an annualized dividend yield of 0.6%.

Invesco Ltd. trimmed its position in Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) by 21.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,567 shares of the company's stock after selling 20,632 shares during the quarter. Invesco Ltd. owned 1.62% of Climb Global Solutions worth $8,259,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CLMB. De Lisle Partners LLP lifted its stake in shares of Climb Global Solutions by 8.4% during the 1st quarter. De Lisle Partners LLP now owns 224,588 shares of the company's stock worth $24,822,000 after purchasing an additional 17,308 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Climb Global Solutions during the 4th quarter worth $1,449,000. Vanguard Group Inc. lifted its stake in shares of Climb Global Solutions by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 240,449 shares of the company's stock worth $26,632,000 after purchasing an additional 7,737 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Climb Global Solutions by 81.5% during the 4th quarter. Ameriprise Financial Inc. now owns 16,965 shares of the company's stock worth $2,150,000 after purchasing an additional 7,616 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in shares of Climb Global Solutions by 195.2% during the 4th quarter. Lazard Asset Management LLC now owns 10,780 shares of the company's stock worth $1,366,000 after purchasing an additional 7,128 shares during the last quarter. 49.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Barrington Research reaffirmed an "outperform" rating and set a $136.00 target price on shares of Climb Global Solutions in a research report on Monday, August 11th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $136.00.

Climb Global Solutions Stock Performance

Climb Global Solutions stock traded down $0.48 during midday trading on Thursday, hitting $124.27. 37,337 shares of the company were exchanged, compared to its average volume of 69,035. The firm has a market capitalization of $574.13 million, a PE ratio of 25.78, a price-to-earnings-growth ratio of 2.02 and a beta of 1.01. Climb Global Solutions, Inc. has a fifty-two week low of $84.39 and a fifty-two week high of $144.99. The business has a fifty day simple moving average of $110.44 and a two-hundred day simple moving average of $110.88.

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. The firm 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%. As a group, equities analysts expect that Climb Global Solutions, Inc. will post 4.14 earnings per share for the current year.

Climb Global Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Monday, August 11th were given a dividend of $0.17 per share. The ex-dividend date was Monday, August 11th. This represents a $0.68 dividend on an annualized basis and a yield of 0.5%. 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.