Janney Montgomery Scott LLC Acquires 59,758 Shares of Climb Global Solutions, Inc. $CLMB

Key Points

• Janney Montgomery Scott LLC increased its stake in Climb Global Solutions by 307.6% in the first quarter, buying 59,758 additional shares and bringing its total holding to 79,185 shares worth about $1.57 million.
• Climb Global Solutions reported Q1 earnings of $0.19 per share, missing estimates, but revenue came in above expectations at $182.38 million. Analysts currently have a consensus Moderate Buy rating with an average price target of $31.00.
• Director John R. McCarthy bought 4,000 shares in early May, lifting insider ownership, while institutional investors and hedge funds collectively own about 49.72% of the company.

Janney Montgomery Scott LLC raised its holdings in shares of Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) by 307.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,185 shares of the company's stock after purchasing an additional 59,758 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.43% of Climb Global Solutions worth $1,569,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Global Retirement Partners LLC acquired a new stake in Climb Global Solutions in the 4th quarter worth about $36,000. Bard Associates Inc. bought a new position in shares of Climb Global Solutions during the fourth quarter worth about $55,000. Tower Research Capital LLC TRC raised 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 worth $59,000 after buying an additional 422 shares during the last quarter. IFP Advisors Inc boosted its position in Climb Global Solutions by 18.2% during the third quarter. IFP Advisors Inc now owns 643 shares of the company's stock valued at $90,000 after acquiring an additional 99 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Climb Global Solutions by 31,866.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 959 shares of the company's stock worth $99,000 after acquiring an additional 956 shares during the period. 49.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CLMB has been the subject of several research reports. Weiss Ratings downgraded Climb Global Solutions from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 6th. Barrington Research reissued an "outperform" rating and issued a $30.00 price target on shares of Climb Global Solutions in a research report on Tuesday, May 5th. Northland Securities initiated coverage on shares of Climb Global Solutions in a report on Monday, March 23rd. They set an "outperform" rating and a $32.00 price objective for the company. Northcoast Research upgraded Climb Global Solutions to a "strong-buy" rating in a research note on Monday, March 23rd. Finally, Wall Street Zen downgraded Climb Global Solutions from a "hold" rating to a "sell" rating in a research note on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Climb Global Solutions presently has a consensus rating of "Moderate Buy" and an average price target of $31.00.

Climb Global Solutions Price Performance

Climb Global Solutions stock opened at $25.73 on Friday. The firm has a market capitalization of $478.58 million, a P/E ratio of 22.57, a PEG ratio of 1.63 and a beta of 1.09. Climb Global Solutions, Inc. has a one year low of $15.24 and a one year high of $36.26. The business has a fifty day moving average price of $22.00 and a 200-day moving average price of $24.01.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.04). Climb Global Solutions had a return on equity of 20.43% and a net margin of 3.01%.The business had revenue of $182.38 million during the quarter, compared to analysts' expectations of $151.33 million. Sell-side analysts expect that Climb Global Solutions, Inc. will post 1.32 earnings per share for the current fiscal year.

Insider Transactions at Climb Global Solutions

In other news, Director John R. Mccarthy purchased 4,000 shares of Climb Global Solutions stock in a transaction that occurred on Monday, May 4th. The shares were bought at an average cost of $18.83 per share, with a total value of $75,320.00. Following the completion of the purchase, the director directly owned 85,876 shares in the company, valued at approximately $1,617,045.08. This trade represents a 4.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.80% of the stock is currently owned by insiders.

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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