Magnetar Financial LLC Takes $399,000 Position in Climb Global Solutions, Inc. $CLMB

Key Points

• Magnetar Financial LLC acquired 3,602 shares of Climb Global Solutions, Inc. valued at approximately $399,000, representing around 0.08% of the company's stock.
• Climb Global Solutions reported better-than-expected earnings, with an EPS of $1.39 compared to the consensus estimate of $0.90.
• The company declared a quarterly dividend of $0.17, reflecting an annualized dividend yield of 0.6%.

Magnetar Financial LLC acquired a new position in shares of Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,602 shares of the company's stock, valued at approximately $399,000. Magnetar Financial LLC owned approximately 0.08% of Climb Global Solutions as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. State of Wyoming lifted its position in shares of Climb Global Solutions by 76.8% in the 1st quarter. State of Wyoming now owns 893 shares of the company's stock worth $99,000 after purchasing an additional 388 shares during the period. Jump Financial LLC acquired a new position in Climb Global Solutions during the first quarter worth $320,000. AlphaQuest LLC acquired a new position in Climb Global Solutions during the first quarter worth $78,000. Quantbot Technologies LP raised its holdings in Climb Global Solutions by 132.8% during the first quarter. Quantbot Technologies LP now owns 3,196 shares of the company's stock worth $354,000 after buying an additional 1,823 shares during the last quarter. Finally, Aptus Capital Advisors LLC acquired a new position in Climb Global Solutions during the first quarter worth $2,457,000. 49.72% of the stock is currently owned by institutional investors and hedge funds.

Climb Global Solutions Trading Down 2.1%

Shares of Climb Global Solutions stock traded down $2.80 on Friday, hitting $128.61. 43,416 shares of the company traded hands, compared to its average volume of 50,739. The company has a market cap of $594.18 million, a P/E ratio of 26.68, a P/E/G ratio of 2.09 and a beta of 1.01. Climb Global Solutions, Inc. has a 12-month low of $84.39 and a 12-month high of $144.99. The firm's 50-day simple moving average is $113.45 and its 200 day simple moving average is $110.72.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $0.90 by $0.49. Climb Global Solutions had a net margin of 3.82% and a return on equity of 29.16%. The business had revenue of $159.28 million during the quarter, compared to analyst estimates of $113.25 million. Analysts predict that Climb Global Solutions, Inc. will post 4.14 earnings per share for the current year.

Climb Global Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Monday, August 11th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. Climb Global Solutions's dividend payout ratio is 14.11%.

Wall Street Analyst Weigh In

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

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.