Lazard Asset Management LLC grew its stake in Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) by 195.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,780 shares of the company's stock after buying an additional 7,128 shares during the period. Lazard Asset Management LLC owned approximately 0.23% of Climb Global Solutions worth $1,366,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position in shares of Climb Global Solutions by 138,542.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 9,705 shares of the company's stock worth $1,230,000 after buying an additional 9,698 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Climb Global Solutions in the fourth quarter worth about $476,000. Raymond James Financial Inc. acquired a new stake in shares of Climb Global Solutions in the fourth quarter worth about $1,449,000. Proficio Capital Partners LLC acquired a new stake in shares of Climb Global Solutions in the fourth quarter worth about $1,382,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Climb Global Solutions in the fourth quarter worth about $250,000. Institutional investors and hedge funds own 49.72% of the company's stock.
Insider Transactions at Climb Global Solutions
In related news, insider Charles Edward Bass sold 8,117 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $124.71, for a total transaction of $1,012,271.07. Following the transaction, the insider now directly owns 25,792 shares in the company, valued at $3,216,520.32. The trade was a 23.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Greg Scorziello sold 5,767 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $100.63, for a total value of $580,333.21. Following the transaction, the director now owns 1,774 shares in the company, valued at $178,517.62. This represents a 76.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,531 shares of company stock worth $3,379,759. Company insiders own 6.10% of the company's stock.
Climb Global Solutions Stock Performance
Shares of Climb Global Solutions stock traded up $0.36 during trading on Friday, reaching $104.97. The company's stock had a trading volume of 99,283 shares, compared to its average volume of 29,985. The business's fifty day moving average price is $107.10 and its 200-day moving average price is $120.14. The firm has a market cap of $483.07 million, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 1.74 and a beta of 1.12. Climb Global Solutions, Inc. has a one year low of $54.00 and a one year high of $145.00.
Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, missing analysts' consensus estimates of $0.89 by ($0.03). The business had revenue of $138.04 million during the quarter, compared to the consensus estimate of $96.86 million. Climb Global Solutions had a return on equity of 23.63% and a net margin of 4.11%. Sell-side analysts anticipate 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, May 16th. Stockholders of record on Monday, May 12th were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.65%. Climb Global Solutions's payout ratio is presently 15.93%.
Analyst Upgrades and Downgrades
Separately, Barrington Research reaffirmed an "outperform" rating and issued a $136.00 price target on shares of Climb Global Solutions in a research report on Tuesday, May 13th.
Check Out Our Latest Stock Report on CLMB
Climb Global Solutions Company Profile
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Free Report)
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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