Punch & Associates Investment Management Inc. Has $14.43 Million Stock Position in Climb Global Solutions, Inc. $CLMB

Key Points

• Punch & Associates Investment Management Inc. reduced its stake in Climb Global Solutions, Inc. (NASDAQ:CLMB) by 30.9%, selling 58,209 shares and now holding 130,250 shares valued at approximately $14.4 million.
• Analysts have set a price target of $136.00 for Climb Global Solutions, with the stock currently rated as a Buy by one equities research analyst.
• The company recently declared a quarterly dividend of $0.17 per share, resulting in an annualized dividend yield of 0.5%.

Punch & Associates Investment Management Inc. lessened its holdings in shares of Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) by 30.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 130,250 shares of the company's stock after selling 58,209 shares during the period. Punch & Associates Investment Management Inc. owned 2.83% of Climb Global Solutions worth $14,426,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Flagship Harbor Advisors LLC boosted its stake in Climb Global Solutions by 18.0% in the first quarter. Flagship Harbor Advisors LLC now owns 2,324 shares of the company's stock valued at $257,000 after acquiring an additional 354 shares during the period. Catalyst Capital Advisors LLC acquired a new position in Climb Global Solutions in the first quarter valued at approximately $349,000. Jump Financial LLC acquired a new position in Climb Global Solutions in the first quarter valued at approximately $320,000. GAMMA Investing LLC boosted its stake in Climb Global Solutions by 20,471.4% in the first quarter. GAMMA Investing LLC now owns 2,880 shares of the company's stock valued at $319,000 after acquiring an additional 2,866 shares during the period. Finally, Virtu Financial LLC acquired a new position in Climb Global Solutions in the first quarter valued at approximately $377,000. 49.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reiterated an "outperform" rating and issued a $136.00 price objective on shares of Climb Global Solutions in a research report on Thursday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $136.00.

Climb Global Solutions Trading Up 2.8%

NASDAQ:CLMB traded up $3.59 during midday trading on Thursday, hitting $130.59. 34,261 shares of the stock were exchanged, compared to its average volume of 52,889. Climb Global Solutions, Inc. has a one year low of $86.59 and a one year high of $144.99. The company has a market capitalization of $603.33 million, a price-to-earnings ratio of 27.09, a P/E/G ratio of 2.03 and a beta of 1.01. The business has a 50-day moving average price of $114.57 and a two-hundred day moving average price of $110.84.

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

Climb Global Solutions Announces Dividend

The firm also recently declared 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 payout ratio is presently 14.11%.

Climb Global Solutions 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.