Jupiter Topco LLC Takes $1.95 Million Position in Climb Global Solutions, Inc. $CLMB

Key Points

• Jupiter Topco LLC acquired 83,838 shares of Climb Global Solutions worth approximately $1.95 million, representing about 0.45% of the company. Institutional investors collectively own 49.72% of CLMB.
• Analyst sentiment is generally positive: Climb Global Solutions has a consensus rating of “Moderate Buy” and an average price target of $31.00.
• Climb Global Solutions met quarterly earnings expectations with $0.30 in EPS and reported $174.21 million in revenue, slightly above estimates. Shares recently opened at $28.18, with a 52-week range of $15.24 to $36.26.

Jupiter Topco LLC bought a new position in shares of Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 83,838 shares of the company's stock, valued at approximately $1,946,000. Jupiter Topco LLC owned about 0.45% of Climb Global Solutions at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CLMB. Tieton Capital Management LLC increased its stake in shares of Climb Global Solutions by 83.9% during the 4th quarter. Tieton Capital Management LLC now owns 111,984 shares of the company's stock worth $11,511,000 after purchasing an additional 51,088 shares during the last quarter. AltraVue Capital LLC raised its holdings in shares of Climb Global Solutions by 85.3% in the 4th quarter. AltraVue Capital LLC now owns 189,851 shares of the company's stock valued at $19,515,000 after purchasing an additional 87,380 shares during the period. Punch & Associates Investment Management Inc. lifted its stake in Climb Global Solutions by 309.5% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 551,665 shares of the company's stock valued at $10,934,000 after purchasing an additional 416,948 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Climb Global Solutions by 307.6% during the first quarter. Janney Montgomery Scott LLC now owns 79,185 shares of the company's stock worth $1,569,000 after buying an additional 59,758 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Climb Global Solutions by 311.9% during the first quarter. Renaissance Technologies LLC now owns 536,213 shares of the company's stock worth $10,628,000 after buying an additional 406,017 shares during the last quarter. 49.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CLMB shares. Wall Street Zen raised Climb Global Solutions from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Weiss Ratings upgraded Climb Global Solutions from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, August 17th. 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 company. According to MarketBeat.com, Climb Global Solutions has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.

Climb Global Solutions Stock Performance

Shares of CLMB stock opened at $28.18 on Friday. The company has a market capitalization of $525.84 million, a price-to-earnings ratio of 25.27, a PEG ratio of 1.73 and a beta of 1.09. The company has a 50-day simple moving average of $26.56 and a 200 day simple moving average of $23.51. Climb Global Solutions, Inc. has a 52 week low of $15.24 and a 52 week high of $36.26.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $174.21 million for the quarter, compared to analysts' expectations of $174.07 million. Climb Global Solutions had a net margin of 2.88% and a return on equity of 18.87%. Sell-side analysts forecast that Climb Global Solutions, Inc. will post 1.32 EPS for the current year.

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.

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