Polar Asset Management Partners Inc. Invests $775,000 in Climb Global Solutions, Inc. $CLMB

Key Points

• Polar Asset Management Partners Inc. acquired 7,000 shares of Climb Global Solutions, valued at approximately $775,000, increasing its stake to about 0.15% of the company.
• Climb Global Solutions reported an EPS of $1.39 for the last quarter, significantly exceeding the consensus estimate of $0.90, with revenues reaching $159.28 million.
• The company announced a quarterly dividend of $0.17 per share, with a current payout ratio of 14.11% and a dividend yield of 0.5%.

Polar Asset Management Partners Inc. bought a new position in shares of Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,000 shares of the company's stock, valued at approximately $775,000. Polar Asset Management Partners Inc. owned 0.15% of Climb Global Solutions as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Climb Global Solutions by 5.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,522 shares of the company's stock worth $279,000 after purchasing an additional 131 shares in the last quarter. Banque Transatlantique SA acquired a new position in shares of Climb Global Solutions during the first quarter worth $60,000. Magnetar Financial LLC acquired a new position in shares of Climb Global Solutions during the first quarter worth $399,000. State of Wyoming increased its position in shares of Climb Global Solutions by 76.8% during the first quarter. State of Wyoming now owns 893 shares of the company's stock worth $99,000 after purchasing an additional 388 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Climb Global Solutions during the first quarter worth $320,000. Hedge funds and other institutional investors own 49.72% of the company's stock.

Analyst Ratings Changes

Separately, Barrington Research reissued an "outperform" rating and issued a $136.00 target price on shares of Climb Global Solutions in a research report on Thursday. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $136.00.

Climb Global Solutions Trading Down 0.2%

CLMB traded down $0.30 during midday trading on Friday, hitting $130.30. 22,246 shares of the company were exchanged, compared to its average volume of 52,706. The company's 50 day simple moving average is $114.97 and its 200 day simple moving average is $110.91. The firm has a market capitalization of $601.96 million, a price-to-earnings ratio of 27.06, a price-to-earnings-growth ratio of 2.06 and a beta of 1.01. Climb Global Solutions, Inc. has a 1-year low of $88.11 and a 1-year high of $144.99.

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

Climb Global Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders 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 (DPR) is currently 14.11%.

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.