Lazard Asset Management LLC Acquires 7,128 Shares of Climb Global Solutions, Inc. (NASDAQ:CLMB)

Lazard Asset Management LLC raised its holdings in shares of Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) by 195.2% during 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 acquiring an additional 7,128 shares during the period. Lazard Asset Management LLC owned about 0.23% of Climb Global Solutions worth $1,366,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CLMB. Summit Investment Advisors Inc. grew its position in Climb Global Solutions by 28.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 440 shares of the company's stock valued at $56,000 after acquiring an additional 97 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Climb Global Solutions by 200.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 477 shares of the company's stock worth $60,000 after purchasing an additional 318 shares during the last quarter. MeadowBrook Investment Advisors LLC bought a new position in shares of Climb Global Solutions in the fourth quarter worth approximately $120,000. Price T Rowe Associates Inc. MD bought a new position in shares of Climb Global Solutions in the fourth quarter worth approximately $209,000. Finally, Cornerstone Investment Partners LLC bought a new position in shares of Climb Global Solutions in the fourth quarter worth approximately $236,000. 49.72% of the stock is currently owned by institutional investors.

Climb Global Solutions Stock Performance

Shares of Climb Global Solutions stock opened at $108.55 on Monday. Climb Global Solutions, Inc. has a 52-week low of $49.70 and a 52-week high of $145.00. The stock has a market capitalization of $499.55 million, a price-to-earnings ratio of 29.42, a P/E/G ratio of 1.74 and a beta of 1.12. The company's 50 day moving average price is $107.76 and its 200-day moving average price is $120.32.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, missing analysts' consensus estimates of $0.89 by ($0.03). Climb Global Solutions had a return on equity of 23.63% and a net margin of 4.11%. The business had revenue of $138.04 million during the quarter, compared to analysts' expectations of $96.86 million. As a group, equities research analysts forecast that Climb Global Solutions, Inc. will post 4.14 earnings per share for the current fiscal year.

Climb Global Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Monday, May 12th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Monday, May 12th. Climb Global Solutions's payout ratio is 15.93%.

Analyst Upgrades and Downgrades

Separately, Barrington Research restated an "outperform" rating and issued a $136.00 target price on shares of Climb Global Solutions in a report on Tuesday, May 13th.

Insider Buying and Selling

In other Climb Global Solutions news, insider Charles Edward Bass sold 8,117 shares of the firm's stock in a transaction on 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 completion of the transaction, the insider now owns 25,792 shares of the company's stock, valued at approximately $3,216,520.32. This trade represents a 23.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Andrew S. Bryant sold 2,543 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $125.50, for a total value of $319,146.50. Following the transaction, the director now directly owns 11,261 shares of the company's stock, valued at $1,413,255.50. This represents a 18.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,531 shares of company stock valued at $3,379,759 over the last quarter. 6.10% of the stock is owned by company 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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